TD Cowen Increases U.S. Bancorp (NYSE:USB) Price Target to $65.00

U.S. Bancorp (NYSE:USB) had its target price lifted by equities research analysts at TD Cowen from $60.00 to $65.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. TD Cowen’s price objective points to a potential upside of 17.06% from the company’s previous close.

A number of other research analysts also recently commented on the stock. Barclays increased their price target on shares of U.S. Bancorp from $56.00 to $65.00 and gave the company an “overweight” rating in a report on Monday. Morgan Stanley restated a “positive” rating on shares of U.S. Bancorp in a research report on Friday, October 17th. Keefe, Bruyette & Woods lifted their target price on U.S. Bancorp from $53.00 to $58.00 and gave the stock a “market perform” rating in a report on Wednesday, December 17th. Truist Financial boosted their target price on U.S. Bancorp from $52.00 to $58.00 and gave the company a “hold” rating in a research report on Thursday, December 18th. Finally, The Goldman Sachs Group set a $52.00 price target on U.S. Bancorp and gave the stock a “neutral” rating in a research report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $56.30.

U.S. Bancorp Stock Up 1.2%

Shares of USB opened at $55.53 on Wednesday. The stock has a market capitalization of $86.31 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 0.96 and a beta of 1.07. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $56.19. The business’s 50 day simple moving average is $50.90 and its 200-day simple moving average is $48.43. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.82.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. The firm had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.17 billion. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. U.S. Bancorp’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the firm posted $1.03 earnings per share. As a group, equities analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

Insider Activity

In other U.S. Bancorp news, Chairman Andrew Cecere sold 140,445 shares of the business’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $46.34, for a total value of $6,508,221.30. Following the completion of the sale, the chairman directly owned 1,360,414 shares of the company’s stock, valued at $63,041,584.76. The trade was a 9.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James L. Chosy sold 26,909 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the transaction, the executive vice president directly owned 226,375 shares in the company, valued at approximately $10,607,932.50. This trade represents a 10.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. IMG Wealth Management Inc. bought a new position in shares of U.S. Bancorp during the second quarter valued at approximately $25,000. Guerra Advisors Inc purchased a new position in shares of U.S. Bancorp in the 3rd quarter valued at $25,000. Financial Life Planners bought a new position in shares of U.S. Bancorp in the 3rd quarter worth $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of U.S. Bancorp during the 3rd quarter worth $26,000. Finally, Hillsdale Investment Management Inc. purchased a new stake in shares of U.S. Bancorp during the 2nd quarter worth $27,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Company Profile

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.