Morgan Stanley Lowers U.S. Bancorp (NYSE:USB) Price Target to $51.00

U.S. Bancorp (NYSE:USB) had its target price cut by equities research analysts at Morgan Stanley from $55.00 to $51.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price target indicates a potential upside of 40.46% from the stock’s previous close.

Several other research analysts have also recently weighed in on USB. Compass Point upped their price target on shares of U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Citigroup decreased their target price on U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Truist Financial lowered their price target on U.S. Bancorp from $54.00 to $51.00 and set a “hold” rating on the stock in a report on Friday, April 4th. The Goldman Sachs Group cut their price objective on U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. 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 on the stock in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $52.52.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $36.31 on Monday. The stock has a fifty day moving average of $44.19 and a 200-day moving average of $47.23. The stock has a market cap of $56.57 billion, a PE ratio of 9.58, a price-to-earnings-growth ratio of 1.73 and a beta of 0.91. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98.

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

Insider Transactions at U.S. Bancorp

In other news, insider Jodi L. Richard sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the transaction, the insider now directly owns 99,790 shares of the company’s stock, valued at approximately $4,749,006.10. The trade was a 23.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew Cecere sold 102,044 shares of U.S. Bancorp stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the completion of the sale, the chief executive officer now owns 1,230,316 shares in the company, valued at approximately $58,132,431. This trade represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 219,812 shares of company stock worth $10,385,665. Company insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Winch Advisory Services LLC boosted its holdings in shares of U.S. Bancorp by 1,088.9% during 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 in the last quarter. J.Safra Asset Management Corp bought a new stake in U.S. Bancorp during the fourth quarter worth about $26,000. FPC Investment Advisory Inc. purchased a new stake in U.S. Bancorp in the fourth quarter worth about $28,000. Global Wealth Strategies & Associates increased its stake in shares of 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 valued at $29,000 after purchasing an additional 250 shares in the last quarter. Finally, Stonebridge Financial Group LLC purchased a new position in shares of U.S. Bancorp during the fourth quarter valued at approximately $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.