U.S. Bancorp (NYSE:USB) Given New $50.00 Price Target at Wells Fargo & Company

U.S. Bancorp (NYSE:USB) had its price target cut by stock analysts at Wells Fargo & Company from $56.00 to $50.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 31.01% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Citigroup reduced their price objective on U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Oppenheimer boosted their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Truist Financial lowered their price objective on U.S. Bancorp from $51.00 to $48.00 and set a “hold” rating on the stock in a report on Thursday. JPMorgan Chase & Co. reissued an “underweight” rating and set a $43.50 price objective (down previously from $51.00) on shares of U.S. Bancorp in a report on Thursday, April 3rd. Finally, Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.07.

U.S. Bancorp Stock Up 0.9 %

Shares of NYSE USB traded up $0.35 during midday trading on Thursday, hitting $38.17. The company’s stock had a trading volume of 5,035,582 shares, compared to its average volume of 9,028,656. The business’s fifty day simple moving average is $42.91 and its two-hundred day simple moving average is $46.86. The firm has a market capitalization of $59.46 billion, a price-to-earnings ratio of 10.07, 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 has a 1 year low of $35.18 and a 1 year high of $53.98.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.92 billion. During the same quarter in the previous year, the firm posted $0.78 earnings per share. On average, equities analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

Insider Transactions at U.S. Bancorp

In related news, CEO Andrew Cecere sold 102,044 shares of the firm’s 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 transaction, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at $58,132,431. This trade represents a 7.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP James L. Chosy sold 21,451 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the transaction, the executive vice president now owns 198,127 shares of the company’s stock, valued at approximately $9,440,751.55. This trade represents a 9.77 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 219,812 shares of company stock valued at $10,385,665. Company insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On U.S. Bancorp

A number of hedge funds have recently bought and sold shares of the stock. Hengehold Capital Management LLC increased its stake in U.S. Bancorp by 4.1% in the 1st quarter. Hengehold Capital Management LLC now owns 81,586 shares of the financial services provider’s stock valued at $3,445,000 after buying an additional 3,249 shares during the period. Exchange Traded Concepts LLC boosted its position in shares of U.S. Bancorp by 61.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 302,435 shares of the financial services provider’s stock worth $12,769,000 after buying an additional 115,372 shares in the last quarter. Ritholtz Wealth Management grew its holdings in U.S. Bancorp by 6.0% during the 1st quarter. Ritholtz Wealth Management now owns 57,462 shares of the financial services provider’s stock valued at $2,426,000 after buying an additional 3,247 shares during the last quarter. Dynamic Advisor Solutions LLC purchased a new position in shares of U.S. Bancorp during the first quarter valued at approximately $327,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of U.S. Bancorp during the first quarter worth $44,000. Institutional investors and hedge funds 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.