U.S. Bancorp (NYSE:USB) Given New $58.00 Price Target at Piper Sandler

U.S. Bancorp (NYSE:USB) had its target price boosted by equities research analysts at Piper Sandler from $52.00 to $58.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price target would indicate a potential upside of 11.51% from the company’s previous close.

Several other equities analysts also recently issued reports on USB. Robert W. Baird set a $54.00 price objective on shares of U.S. Bancorp in a research note on Thursday, October 17th. Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their target price for the stock from $49.00 to $65.00 in a research note on Monday, November 25th. Wells Fargo & Company increased their target price on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. The Goldman Sachs Group decreased their target price on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Finally, Evercore ISI increased their target price on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Twelve analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp currently has a consensus rating of “Hold” and an average target price of $52.72.

U.S. Bancorp Stock Performance

NYSE USB opened at $52.02 on Tuesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. U.S. Bancorp has a 1 year low of $37.81 and a 1 year high of $53.98. The company has a market capitalization of $81.14 billion, a PE ratio of 15.91, a P/E/G ratio of 3.11 and a beta of 1.03. The company has a fifty day moving average of $48.86 and a two-hundred day moving average of $44.68.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The company had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the prior year, the firm posted $1.05 earnings per share. U.S. Bancorp’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, analysts expect that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp declared that its Board of Directors has initiated a share buyback plan on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the completion of the transaction, the insider now directly owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This trade represents a 16.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Brooklyn Investment Group increased its stake in shares of U.S. Bancorp by 4.4% during the 3rd quarter. Brooklyn Investment Group now owns 4,792 shares of the financial services provider’s stock worth $219,000 after purchasing an additional 201 shares in the last quarter. McAdam LLC increased its stake in shares of U.S. Bancorp by 2.5% during the 3rd quarter. McAdam LLC now owns 8,503 shares of the financial services provider’s stock worth $389,000 after purchasing an additional 209 shares in the last quarter. Covestor Ltd increased its stake in shares of U.S. Bancorp by 15.2% during the 3rd quarter. Covestor Ltd now owns 1,741 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 230 shares in the last quarter. Valmark Advisers Inc. increased its stake in shares of U.S. Bancorp by 2.9% during the 2nd quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock worth $346,000 after purchasing an additional 242 shares in the last quarter. Finally, Phillips Wealth Planners LLC boosted its position in U.S. Bancorp by 2.1% during the third quarter. Phillips Wealth Planners LLC now owns 12,056 shares of the financial services provider’s stock worth $593,000 after acquiring an additional 243 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other 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.