U.S. Bancorp (NYSE:USB) Stock Price Expected to Rise, Evercore Analyst Says

U.S. Bancorp (NYSE:USB) had its price objective boosted by Evercore from $60.00 to $65.00 in a report released on Thursday, Marketbeat Ratings reports. The brokerage currently has an “in-line” rating on the financial services provider’s stock. Evercore’s target price suggests a potential upside of 7.01% from the stock’s previous close.

USB has been the subject of a number of other research reports. 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, January 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Wednesday, January 21st. Citigroup lifted their target price on U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Oppenheimer increased their price target on U.S. Bancorp from $75.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. Finally, Truist Financial lifted their price objective on shares of U.S. Bancorp from $58.00 to $61.00 and gave the stock a “hold” rating in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.90.

U.S. Bancorp Trading Up 2.8%

USB stock opened at $60.74 on Thursday. The firm has a fifty day moving average price of $54.57 and a 200 day moving average price of $49.86. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $60.91. The firm has a market cap of $94.42 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 1.06 and a beta of 1.06. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The company had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.31 billion. During the same quarter in the prior year, the firm earned $1.07 earnings per share. U.S. Bancorp’s revenue was up 5.1% on a year-over-year basis. Sell-side analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On U.S. Bancorp

Several hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in U.S. Bancorp during the 2nd quarter valued at $971,285,000. Davis Selected Advisers raised its position in shares of U.S. Bancorp by 29.8% in the 2nd quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock worth $874,757,000 after acquiring an additional 4,442,623 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of U.S. Bancorp by 3,451.9% during the 4th quarter. SG Americas Securities LLC now owns 4,332,659 shares of the financial services provider’s stock worth $231,191,000 after purchasing an additional 4,210,676 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in U.S. Bancorp by 1,589.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,472,252 shares of the financial services provider’s stock valued at $157,119,000 after purchasing an additional 3,266,724 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in U.S. Bancorp by 354.5% in the second quarter. AQR Capital Management LLC now owns 2,855,350 shares of the financial services provider’s stock valued at $129,205,000 after purchasing an additional 2,227,103 shares during the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

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.