U.S. Bancorp (NYSE:USB) Upgraded at Piper Sandler

U.S. Bancorp (NYSE:USB) was upgraded by Piper Sandler from a “neutral” rating to an “overweight” rating in a note issued to investors on Monday. The firm presently has a $58.00 price objective on the financial services provider’s stock. Piper Sandler’s price target would suggest a potential upside of 22.23% from the stock’s previous close.

USB has been the topic of several other research reports. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Raymond James upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a research note on Thursday, December 19th. Deutsche Bank Aktiengesellschaft downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a research note on Thursday, October 24th. Wells Fargo & Company raised their price target on U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Oppenheimer dropped their price target on U.S. Bancorp from $66.00 to $62.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.07.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $47.45 on Monday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The firm has a market capitalization of $74.02 billion, a PE ratio of 14.51, a price-to-earnings-growth ratio of 3.01 and a beta of 1.05. The stock’s 50-day simple moving average is $50.20 and its 200-day simple moving average is $46.55.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The business had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same quarter last year, the company earned $1.05 EPS. The business’s quarterly revenue was down 2.4% on a year-over-year basis. As a group, equities research analysts forecast that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

Insider Activity at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction on Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the completion of the transaction, the insider now directly owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On U.S. Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Natixis Advisors LLC raised its holdings in U.S. Bancorp by 16.6% during the third quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock worth $18,348,000 after purchasing an additional 56,990 shares during the last quarter. International Assets Investment Management LLC acquired a new position in U.S. Bancorp during the fourth quarter worth $1,018,000. M&T Bank Corp raised its holdings in U.S. Bancorp by 2.8% during the third quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock worth $38,704,000 after purchasing an additional 22,803 shares during the last quarter. Hilltop Holdings Inc. raised its holdings in U.S. Bancorp by 184.3% during the third quarter. Hilltop Holdings Inc. now owns 70,283 shares of the financial services provider’s stock worth $3,214,000 after purchasing an additional 45,560 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. raised its holdings in U.S. Bancorp by 544.1% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 13,894 shares of the financial services provider’s stock worth $635,000 after purchasing an additional 11,737 shares during 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.