U.S. Bancorp (NYSE:USB) Price Target Cut to $50.00 by Analysts at Wells Fargo & Company

U.S. Bancorp (NYSE:USB) had its target price reduced by equities researchers at Wells Fargo & Company from $56.00 to $50.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price points to a potential upside of 30.87% from the stock’s current price.

USB has been the topic of several other reports. Barclays cut their price target on shares of U.S. Bancorp from $61.00 to $56.00 and set an “overweight” rating on the stock in a report on Thursday. Morgan Stanley dropped their target price on U.S. Bancorp from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Monday, April 7th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $43.50 price target (down from $51.00) on shares of U.S. Bancorp in a research note on Thursday, April 3rd. Bank of America dropped their price target on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Monday, March 17th. Finally, Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.66.

U.S. Bancorp Trading Up 1.0 %

Shares of NYSE USB opened at $38.21 on Thursday. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. The business has a fifty day moving average price of $42.55 and a 200 day moving average price of $46.77. The stock has a market capitalization of $59.53 billion, a P/E ratio of 10.08, 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 current ratio of 0.81 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.97 by $0.06. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.92 billion. During the same period in the prior year, the firm posted $0.78 earnings per share. Equities research analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Jodi L. Richard sold 30,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 99,790 shares in the company, valued at $4,749,006.10. This trade represents a 23.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Terrance R. Dolan sold 66,317 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 209,482 shares of the company’s stock, valued at $9,837,274.72. The trade was a 24.05 % 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 valued at $10,385,665. 0.23% of the stock is owned by company insiders.

Institutional Trading of U.S. Bancorp

Several institutional investors have recently bought and sold shares of the business. Cornerstone Wealth Management LLC raised its stake in shares of U.S. Bancorp by 7.6% during the 1st quarter. Cornerstone Wealth Management LLC now owns 44,813 shares of the financial services provider’s stock worth $1,892,000 after buying an additional 3,153 shares during the period. Shepherd Financial Partners LLC raised its position in U.S. Bancorp by 3.5% during the first quarter. Shepherd Financial Partners LLC now owns 17,257 shares of the financial services provider’s stock worth $729,000 after acquiring an additional 585 shares during the period. San Luis Wealth Advisors LLC purchased a new position in U.S. Bancorp during the first quarter valued at $577,000. Bell Bank grew its position in shares of U.S. Bancorp by 2,876.5% in the first quarter. Bell Bank now owns 172,158 shares of the financial services provider’s stock valued at $7,269,000 after purchasing an additional 166,374 shares during the period. Finally, Rakuten Securities Inc. increased its stake in shares of U.S. Bancorp by 1,212.1% during the first quarter. Rakuten Securities Inc. now owns 761 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 703 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Company Profile

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.