U.S. Bancorp (NYSE:USB) Stock Rating Upgraded by Evercore

U.S. Bancorp (NYSE:USB) was upgraded by equities researchers at Evercore from an “in-line” rating to an “outperform” rating in a report issued on Monday, Marketbeat Ratings reports. The firm presently has a $72.00 price target on the financial services provider’s stock. Evercore’s target price indicates a potential upside of 13.06% from the stock’s previous close.

Several other analysts have also recently commented on the company. Keefe, Bruyette & Woods raised their target price on U.S. Bancorp from $63.00 to $66.00 and gave the stock a “market perform” rating in a research report on Friday, July 17th. Wells Fargo & Company upped their price target on U.S. Bancorp from $66.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Truist Financial increased their price objective on U.S. Bancorp from $66.00 to $69.00 and gave the stock a “buy” rating in a research note on Friday, July 17th. Morgan Stanley raised their price objective on U.S. Bancorp from $64.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Finally, Raymond James Financial started coverage on U.S. Bancorp in a research note on Wednesday, July 8th. They set a “strong-buy” rating and a $72.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

U.S. Bancorp Stock Up 0.9%

USB stock opened at $63.69 on Monday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a market capitalization of $98.78 billion, a P/E ratio of 12.71, a P/E/G ratio of 1.04 and a beta of 0.96. U.S. Bancorp has a 52-week low of $43.46 and a 52-week high of $64.84. The company’s 50 day simple moving average is $58.24 and its 200-day simple moving average is $56.22.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The firm had revenue of $7.71 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same quarter last year, the business posted $1.11 EPS. As a group, equities research analysts anticipate that U.S. Bancorp will post 5.2 EPS for the current year.

Insider Activity

In related news, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction on 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 sale, the executive vice president directly owned 51,292 shares in the company, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in U.S. Bancorp by 323.0% in the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock worth $2,309,000 after buying an additional 36,863 shares during the last quarter. Empowered Funds LLC lifted its stake in U.S. Bancorp by 2.1% in the first quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock valued at $1,453,000 after acquiring an additional 714 shares during the last quarter. Intech Investment Management LLC lifted its stake in U.S. Bancorp by 18.9% in the first quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider’s stock valued at $1,658,000 after acquiring an additional 6,252 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in U.S. Bancorp in the second quarter worth approximately $425,000. Finally, Nebula Research & Development LLC bought a new stake in U.S. Bancorp in the second quarter worth approximately $701,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Key U.S. Bancorp News

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

• Positive Sentiment: Evercore ISI upgraded U.S. Bancorp (USB) from in-line to outperform and set a $72 price target, pointing to meaningful upside from current levels. The Fly article
• Positive Sentiment: JPMorgan raised U.S. Bancorp (USB) from underweight to neutral and increased its price target to $67.50, citing growth in fee revenue. Benzinga article
• Positive Sentiment: Recent commentary highlighted U.S. Bancorp as a strong dividend stock, which may be supporting investor interest in the name. Zacks article
• Neutral Sentiment: Several recent articles compared USB’s year-to-date performance with other financial stocks, suggesting the stock has been performing solidly relative to peers, but these pieces were mostly informational rather than clearly market-moving. MSN article

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.