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

U.S. Bancorp (NYSE:USB) had its price objective lifted by equities researchers at Robert W. Baird from $64.00 to $68.00 in a report issued on Friday, Marketbeat.com reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Robert W. Baird’s price target points to a potential upside of 7.70% from the company’s previous close.

A number of other research firms have also commented on USB. Oppenheimer lowered their price objective on U.S. Bancorp from $74.00 to $73.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 30th. Weiss Ratings upgraded U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Wall Street Zen raised U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Monday, July 6th. UBS Group raised their price target on U.S. Bancorp from $58.00 to $66.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 7th. Finally, Morgan Stanley boosted their price target on 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. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.52.

U.S. Bancorp Stock Down 1.4%

Shares of USB opened at $63.14 on Friday. U.S. Bancorp has a 12 month low of $43.46 and a 12 month high of $64.84. The firm’s 50 day moving average is $57.89 and its 200-day moving average is $56.08. The stock has a market capitalization of $97.93 billion, a PE ratio of 12.60, a P/E/G ratio of 1.08 and a beta of 0.96. The company has a current ratio of 0.83, a quick ratio of 0.81 and a debt-to-equity ratio of 0.96.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.07. The company had revenue of $7.71 billion during the quarter, compared to the consensus estimate of $7.58 billion. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. During the same period in the previous year, the business earned $1.11 earnings per share. Equities research analysts forecast that U.S. Bancorp will post 5.18 EPS for the current year.

Insider Buying and Selling at U.S. Bancorp

In other news, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the transaction, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jodi L. Richard sold 40,000 shares of the business’s stock in a transaction on Tuesday, April 21st. The stock was 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. This trade represents a 16.18% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of USB. Vanguard Group Inc. boosted its stake in shares of U.S. Bancorp by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider’s stock valued at $7,810,665,000 after purchasing an additional 1,828,404 shares in the last quarter. State Street Corp increased its position in U.S. Bancorp by 0.8% during the 4th quarter. State Street Corp now owns 69,701,898 shares of the financial services provider’s stock worth $3,755,083,000 after purchasing an additional 522,368 shares in the last quarter. Geode Capital Management LLC increased its position in U.S. Bancorp by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 37,679,617 shares of the financial services provider’s stock worth $2,002,518,000 after purchasing an additional 443,646 shares in the last quarter. Norges Bank bought a new position in U.S. Bancorp in the 4th quarter valued at approximately $1,887,497,000. Finally, Auto Owners Insurance Co lifted its stake in U.S. Bancorp by 5,236.0% in the 4th quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock valued at $1,779,556,000 after purchasing an additional 32,725,000 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Trending Headlines about U.S. Bancorp

Here are the key news stories impacting U.S. Bancorp this week:

• Positive Sentiment: U.S. Bancorp posted Q2 earnings of $1.35 per share on revenue of $7.71 billion, both above estimates, with record quarterly revenue driven by loan growth, fee income, and a boost from its BTIG acquisition. U.S. Bancorp Q2 Earnings Beat Estimates on NII & Fee Revenue Growth
• Positive Sentiment: Management raised full-year revenue guidance to a 7% to 9% growth range, signaling confidence that momentum from higher net interest income and fee revenue will continue. Is USB’s Stronger Outlook And BTIG Fee Push Altering The Investment Case For U.S. Bancorp (USB)?
• Positive Sentiment: Several firms lifted price targets after the earnings release, including Oppenheimer, Wells Fargo, Truist, RBC, and Baird, reflecting improved sentiment around USB’s outlook. US Bancorp analysts boost their forecasts after upbeat Q2 results

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.