Citigroup Has Lowered Expectations for U.S. Bancorp (NYSE:USB) Stock Price

U.S. Bancorp (NYSE:USB) had its price target reduced by analysts at Citigroup from $65.00 to $55.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Citigroup’s target price would indicate a potential upside of 25.86% from the company’s previous close.

USB has been the topic of several other reports. The Goldman Sachs Group cut their price target on U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Truist Financial began coverage on U.S. Bancorp in a report on Tuesday, January 7th. They set a “hold” rating and a $54.00 target price on the stock. Barclays boosted their price target on U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, January 6th. DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $58.00 to $60.00 in a research report on Thursday, January 2nd. Finally, Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price for the company in a report on Thursday, December 19th. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, U.S. Bancorp has an average rating of “Moderate Buy” and a consensus target price of $53.48.

U.S. Bancorp Trading Down 0.1 %

Shares of NYSE:USB opened at $43.70 on Monday. The business has a 50-day moving average price of $46.11 and a 200-day moving average price of $47.63. The stock has a market cap of $68.09 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 1.73 and a beta of 1.02. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The company had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. U.S. Bancorp’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the firm posted $0.99 EPS. Equities analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Terrance R. Dolan sold 66,317 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total value of $3,114,246.32. Following the completion of the sale, the insider now directly owns 209,482 shares in the company, valued at $9,837,274.72. This represents a 24.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jodi L. Richard sold 30,000 shares of U.S. Bancorp stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $47.59, for a total value of $1,427,700.00. Following the transaction, the insider now owns 99,790 shares in the company, valued at approximately $4,749,006.10. This represents a 23.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock valued at $10,385,665 over the last 90 days. 0.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On U.S. Bancorp

Hedge funds have recently modified their holdings of the company. Winch Advisory Services LLC grew its stake in shares of U.S. Bancorp by 1,088.9% in the 4th quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after buying an additional 490 shares during the period. J.Safra Asset Management Corp purchased a new position in U.S. Bancorp in the fourth quarter worth approximately $26,000. FPC Investment Advisory Inc. acquired a new stake in U.S. Bancorp during the fourth quarter worth $28,000. Global Wealth Strategies & Associates increased its stake in U.S. Bancorp by 70.8% during the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 250 shares during the last quarter. Finally, Stonebridge Financial Group LLC purchased a new stake in U.S. Bancorp in the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.