U.S. Bancorp (NYSE:USB) Stock Rating Upgraded by Wall Street Zen

U.S. Bancorp (NYSE:USB) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Monday.

A number of other equities analysts have also recently weighed in on USB. Stephens initiated coverage on shares of U.S. Bancorp in a research report on Monday, June 15th. They issued an “equal weight” rating and a $63.00 price objective for the company. Oppenheimer dropped their target price on U.S. Bancorp from $74.00 to $73.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 30th. Barclays increased their price target on U.S. Bancorp from $65.00 to $67.00 and gave the company an “overweight” rating in a report on Friday, April 17th. Truist Financial raised their price objective on U.S. Bancorp from $62.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, June 26th. Finally, Morgan Stanley lifted their price objective on U.S. Bancorp from $64.00 to $67.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.57.

U.S. Bancorp Price Performance

Shares of USB stock opened at $61.67 on Monday. The company has a market capitalization of $95.67 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 1.07 and a beta of 0.96. The firm has a fifty day simple moving average of $56.57 and a 200-day simple moving average of $55.51. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a twelve month low of $43.46 and a twelve month high of $62.38.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The business had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.27 billion. During the same period last year, the business earned $1.03 EPS. The business’s revenue was up 4.7% on a year-over-year basis. Equities research analysts anticipate that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the sale, the insider directly owned 207,251 shares of the company’s stock, valued at approximately $11,813,307. This represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Venkatachari Dilip sold 34,522 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the transaction, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. The trade was a 40.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by insiders.

Hedge Funds Weigh In On U.S. Bancorp

Large investors have recently bought and sold shares of the business. Versant Capital Management Inc boosted its stake in U.S. Bancorp by 6.0% in the second quarter. Versant Capital Management Inc now owns 6,560 shares of the financial services provider’s stock valued at $396,000 after acquiring an additional 371 shares during the period. WealthPoint Financial LLC raised its position in shares of U.S. Bancorp by 13.2% during the 1st quarter. WealthPoint Financial LLC now owns 4,795 shares of the financial services provider’s stock worth $249,000 after purchasing an additional 561 shares during the period. Ballast Advisors LLC acquired a new stake in shares of U.S. Bancorp during the 1st quarter worth approximately $111,000. FAS Wealth Partners Inc. lifted its holdings in shares of U.S. Bancorp by 0.9% in the 1st quarter. FAS Wealth Partners Inc. now owns 19,964 shares of the financial services provider’s stock worth $1,038,000 after purchasing an additional 186 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of U.S. Bancorp by 5.4% in the 1st quarter. Parallel Advisors LLC now owns 20,499 shares of the financial services provider’s stock worth $1,066,000 after purchasing an additional 1,046 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

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.