U.S. Bancorp (NYSE:USB) Stock Gets Price Target Bump from HSBC

U.S. Bancorp (NYSE:USB) had its price target hoisted by equities researchers at HSBC from $74.00 to $76.00 in a report issued on Monday, Marketbeat.com reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. HSBC’s price target would indicate a potential upside of 30.77% from the stock’s current price.

A number of other brokerages also recently commented on USB. Oppenheimer lifted their price objective on U.S. Bancorp from $73.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Truist Financial upped their target price on U.S. Bancorp from $66.00 to $69.00 and gave the company a “buy” rating in a report on Friday, July 17th. Wells Fargo & Company raised their target price on U.S. Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Robert W. Baird lifted their price target on U.S. Bancorp from $64.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, July 17th. Finally, Stephens boosted their price target on shares of U.S. Bancorp from $63.00 to $67.00 and gave the company an “equal weight” rating in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $67.65.

U.S. Bancorp Stock Down 1.1%

USB stock opened at $58.12 on Monday. The company has a market cap of $90.55 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 1.08 and a beta of 0.95. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96. U.S. Bancorp has a 12 month low of $45.02 and a 12 month high of $66.07. The firm has a 50-day moving average of $62.51 and a two-hundred day moving average of $58.53.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.07. The business had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.58 billion. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. During the same period last year, the company posted $1.11 EPS. As a group, analysts forecast that U.S. Bancorp will post 5.25 earnings per share for the current fiscal year.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, CEO Gunjan Kedia sold 27,267 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the sale, the chief executive officer directly owned 426,262 shares in the company, valued at $26,585,960.94. This represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen L. Philipson sold 36,906 shares of the stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the sale, the insider directly owned 74,969 shares in the company, valued at $4,729,044.52. This represents a 32.99% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On U.S. Bancorp

Hedge funds have recently added to or reduced their stakes in the business. Mufg Bank LTD. acquired a new position in U.S. Bancorp in the second quarter valued at $2,680,199,000. Auto Owners Insurance Co increased its position in shares of U.S. Bancorp by 5,236.0% during the fourth quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock worth $1,779,556,000 after purchasing an additional 32,725,000 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of U.S. Bancorp in the 2nd quarter valued at about $536,457,000. Capital Research Global Investors purchased a new stake in shares of U.S. Bancorp in the 4th quarter valued at about $296,377,000. Finally, Victory Capital Management Inc. boosted its position in shares of U.S. Bancorp by 63.2% in the 4th quarter. Victory Capital Management Inc. now owns 9,480,254 shares of the financial services provider’s stock valued at $505,866,000 after purchasing an additional 3,672,742 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

About U.S. Bancorp

U.S. Bancorp is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. The company provides banking, lending, payment, investment, and wealth management services to individuals, businesses, government entities, and institutional clients.

Through U.S. Bank, its principal subsidiary, U.S. Bancorp offers checking and savings accounts, credit cards, mortgages, consumer and business loans, commercial banking, treasury management, investment services, and financial planning.