Evercore ISI Increases U.S. Bancorp (NYSE:USB) Price Target to $48.00

U.S. Bancorp (NYSE:USB) had its price objective boosted by equities researchers at Evercore ISI from $45.00 to $48.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “in-line” rating on the financial services provider’s stock. Evercore ISI’s price objective would suggest a potential upside of 20.94% from the stock’s previous close.

Several other equities analysts also recently commented on the company. Oppenheimer cut their target price on U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating for the company in a research report on Thursday, April 18th. Barclays cut their target price on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. DA Davidson dropped their price target on U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday, April 18th. Wells Fargo & Company dropped their price target on U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, April 18th. Finally, Jefferies Financial Group raised their price target on U.S. Bancorp from $44.00 to $46.00 and gave the company a “hold” rating in a report on Monday, April 8th. Fifteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, U.S. Bancorp currently has an average rating of “Hold” and an average target price of $46.02.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $39.69 on Tuesday. The business has a 50 day moving average price of $40.36 and a 200 day moving average price of $41.73. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $45.85. The company has a market cap of $61.93 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 3.85 and a beta of 1.04. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The company had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter last year, the company earned $1.16 EPS. The company’s quarterly revenue was down 6.4% on a year-over-year basis. Research analysts predict that U.S. Bancorp will post 3.84 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in USB. Scotia Capital Inc. lifted its holdings in shares of U.S. Bancorp by 2.9% in the third quarter. Scotia Capital Inc. now owns 35,012 shares of the financial services provider’s stock valued at $1,158,000 after purchasing an additional 990 shares in the last quarter. Focus Financial Network Inc. ADV bought a new stake in shares of U.S. Bancorp in the fourth quarter valued at about $5,440,000. Spinnaker Trust acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at about $220,000. Morningstar Investment Management LLC increased its position in shares of U.S. Bancorp by 760.8% in the fourth quarter. Morningstar Investment Management LLC now owns 83,833 shares of the financial services provider’s stock valued at $3,628,000 after acquiring an additional 74,094 shares during the last quarter. Finally, Tealwood Asset Management Inc. increased its position in shares of U.S. Bancorp by 33.4% in the fourth quarter. Tealwood Asset Management Inc. now owns 62,539 shares of the financial services provider’s stock valued at $2,707,000 after acquiring an additional 15,665 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.