U.S. Bancorp (NYSE:USB) Rating Increased to Buy at Citigroup

U.S. Bancorp (NYSE:USB) was upgraded by equities researchers at Citigroup from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday, MarketBeat reports. The firm currently has a $65.00 price target on the financial services provider’s stock, up from their prior price target of $49.00. Citigroup’s price objective would suggest a potential upside of 21.13% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective for the company. in a research report on Thursday, October 24th. Evercore ISI boosted their price objective on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Wells Fargo & Company boosted their price objective on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Morgan Stanley upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Finally, Oppenheimer boosted their price objective on shares of U.S. Bancorp from $59.00 to $64.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Twelve equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $52.02.

U.S. Bancorp Stock Performance

NYSE USB opened at $53.66 on Monday. The firm has a market cap of $83.71 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 3.10 and a beta of 1.02. The company has a 50 day moving average of $47.99 and a 200-day moving average of $44.23. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. U.S. Bancorp has a 1-year low of $36.49 and a 1-year high of $53.93.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data 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. The company had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The company’s revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the business posted $1.05 earnings per share. On average, equities analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp declared that its Board of Directors has initiated a stock repurchase plan on Thursday, September 12th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is owned by company insiders.

Institutional Investors Weigh In On U.S. Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. Natixis Advisors LLC lifted its position in U.S. Bancorp by 16.6% in the 3rd quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock valued at $18,348,000 after acquiring an additional 56,990 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in U.S. Bancorp during the 2nd quarter worth about $20,188,000. Janus Henderson Group PLC lifted its position in U.S. Bancorp by 6.4% during the 1st quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock worth $12,363,000 after buying an additional 16,686 shares in the last quarter. Comerica Bank lifted its position in U.S. Bancorp by 11.2% during the 1st quarter. Comerica Bank now owns 564,443 shares of the financial services provider’s stock worth $25,231,000 after buying an additional 56,738 shares in the last quarter. Finally, M&G Plc lifted its position in U.S. Bancorp by 73.9% during the 2nd quarter. M&G Plc now owns 314,241 shares of the financial services provider’s stock worth $12,570,000 after buying an additional 133,498 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

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.