U.S. Bancorp (NYSE:USB – Get Free Report) was upgraded by investment analysts at Evercore from an “in-line” rating to an “outperform” rating in a research note issued on Monday, Marketbeat.com reports. The brokerage presently has a $72.00 price target on the financial services provider’s stock. Evercore’s price target suggests a potential upside of 13.21% from the company’s current price.
Several other equities research analysts have also recently weighed in on USB. Keefe, Bruyette & Woods boosted their target price on U.S. Bancorp from $63.00 to $66.00 and gave the stock a “market perform” rating in a research note on Friday. Morgan Stanley increased their price target on shares of U.S. Bancorp from $64.00 to $67.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. BTIG Research set a $67.50 price objective on shares of U.S. Bancorp in a report on Monday. Robert W. Baird boosted their price objective on shares of U.S. Bancorp from $64.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Wall Street Zen upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $67.00.
Get Our Latest Stock Analysis on U.S. Bancorp
U.S. Bancorp Stock Up 0.7%
U.S. Bancorp (NYSE:USB – Get Free Report) last released its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.The business had revenue of $7.71 billion during the quarter, compared to analysts’ expectations of $7.58 billion. During the same period in the prior year, the firm posted $1.11 EPS. On average, research analysts expect that U.S. Bancorp will post 5.18 earnings per share for the current fiscal year.
Insider Activity at U.S. Bancorp
In other news, insider Jodi L. Richard sold 40,000 shares of U.S. Bancorp stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the transaction, the insider directly owned 207,251 shares of the company’s stock, valued at $11,813,307. The trade was a 16.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the sale, the executive vice president owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Dogwood Wealth Management LLC boosted its holdings in shares of U.S. Bancorp by 32.9% in the 2nd quarter. Dogwood Wealth Management LLC now owns 687 shares of the financial services provider’s stock valued at $41,000 after buying an additional 170 shares during the period. Paulson Wealth Management Inc. raised its stake in U.S. Bancorp by 2.0% during the fourth quarter. Paulson Wealth Management Inc. now owns 8,780 shares of the financial services provider’s stock worth $469,000 after acquiring an additional 173 shares during the period. Flputnam Investment Management Co. lifted its holdings in U.S. Bancorp by 1.4% in the fourth quarter. Flputnam Investment Management Co. now owns 13,721 shares of the financial services provider’s stock worth $732,000 after acquiring an additional 186 shares during the last quarter. Formidable Asset Management LLC lifted its holdings in U.S. Bancorp by 0.8% in the first quarter. Formidable Asset Management LLC now owns 23,373 shares of the financial services provider’s stock worth $1,247,000 after acquiring an additional 186 shares during the last quarter. Finally, FAS Wealth Partners Inc. boosted its stake in U.S. Bancorp by 0.9% in the first quarter. FAS Wealth Partners Inc. now owns 19,964 shares of the financial services provider’s stock valued at $1,038,000 after acquiring an additional 186 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.
About U.S. Bancorp
U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.
Headquartered in Minneapolis, Minnesota, U.S.
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