U.S. Bancorp (NYSE:USB) Raised to Buy at Truist Financial

U.S. Bancorp (NYSE:USB) was upgraded by research analysts at Truist Financial from a “hold” rating to a “buy” rating in a research note issued on Thursday, Marketbeat Ratings reports. The brokerage presently has a $66.00 price target on the financial services provider’s stock, up from their previous price target of $61.00. Truist Financial’s target price would suggest a potential upside of 20.96% from the stock’s current price.

A number of other research firms also recently commented on USB. Keefe, Bruyette & Woods boosted their target price on U.S. Bancorp from $58.00 to $59.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 21st. Argus raised their target price on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. JPMorgan Chase & Co. upped their price target on shares of U.S. Bancorp from $55.50 to $62.00 and gave the company an “underweight” rating in a research note on Monday, February 9th. Barclays increased their price objective on shares of U.S. Bancorp from $56.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Finally, Evercore increased their price target on shares of U.S. Bancorp from $60.00 to $65.00 and gave the company an “in-line” rating in a report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.02.

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $54.57 on Thursday. The stock has a market cap of $84.78 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 1.02 and a beta of 1.06. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a fifty day moving average price of $56.17 and a 200-day moving average price of $51.16. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $61.19.

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

Insider Activity

In other news, insider Mark G. Runkel sold 32,195 shares of the business’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $60.65, for a total value of $1,952,626.75. Following the completion of the transaction, the insider directly owned 97,728 shares of the company’s stock, valued at approximately $5,927,203.20. The trade was a 24.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.23% of the company’s stock.

Institutional Trading of U.S. Bancorp

Institutional investors have recently modified their holdings of the company. Paulson Wealth Management Inc. grew its position in shares of U.S. Bancorp by 2.0% during the 4th quarter. Paulson Wealth Management Inc. now owns 8,780 shares of the financial services provider’s stock valued at $469,000 after acquiring an additional 173 shares during the period. Gilbert & Cook Inc. increased its holdings in U.S. Bancorp by 1.2% in the 4th quarter. Gilbert & Cook Inc. now owns 15,590 shares of the financial services provider’s stock worth $832,000 after acquiring an additional 184 shares in the last quarter. Flputnam Investment Management Co. raised its holdings in shares of U.S. Bancorp by 1.4% during the fourth quarter. Flputnam Investment Management Co. now owns 13,721 shares of the financial services provider’s stock valued at $732,000 after acquiring an additional 186 shares during the last quarter. Genesis Private Wealth LLC increased its position in shares of U.S. Bancorp by 2.3% during the fourth quarter. Genesis Private Wealth LLC now owns 8,348 shares of the financial services provider’s stock worth $445,000 after purchasing an additional 187 shares in the last quarter. Finally, Richmond Investment Services LLC raised its stake in U.S. Bancorp by 1.9% in the 4th quarter. Richmond Investment Services LLC now owns 10,107 shares of the financial services provider’s stock valued at $539,000 after purchasing an additional 192 shares during the last quarter. 77.60% of the stock is currently owned by 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.