Wells Fargo & Company Has Lowered Expectations for U.S. Bancorp (NYSE:USB) Stock Price

U.S. Bancorp (NYSE:USB) had its target price dropped by equities researchers at Wells Fargo & Company from $62.00 to $56.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 32.66% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Bank of America dropped their target price on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Monday, March 17th. Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price on the stock in a report on Monday, January 13th. The Goldman Sachs Group lowered their target price on U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Truist Financial began coverage on U.S. Bancorp in a report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price target on the stock. Finally, Raymond James upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a research note on Thursday, December 19th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $53.21.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $42.21 on Friday. The stock has a market capitalization of $65.77 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 1.73 and a beta of 1.02. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98. The company’s 50-day simple moving average is $45.74 and its 200-day simple moving average is $47.57. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The company had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. During the same quarter last year, the business posted $0.99 EPS. U.S. Bancorp’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

Insider Buying and Selling at U.S. Bancorp

In related news, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the completion of the transaction, the insider now owns 209,482 shares of the company’s stock, valued at $9,837,274.72. This trade represents a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jodi L. Richard sold 30,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the completion of the sale, the insider now owns 99,790 shares in the company, valued at approximately $4,749,006.10. This trade represents a 23.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 219,812 shares of company stock valued at $10,385,665. 0.23% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP grew its position in shares of U.S. Bancorp by 2.6% during the 4th quarter. Capital Performance Advisors LLP now owns 8,188 shares of the financial services provider’s stock worth $392,000 after buying an additional 210 shares during the period. HCR Wealth Advisors boosted its stake in U.S. Bancorp by 1.1% in the fourth quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider’s stock valued at $962,000 after acquiring an additional 211 shares during the last quarter. Covestor Ltd grew its holdings in U.S. Bancorp by 12.3% during the 4th quarter. Covestor Ltd now owns 1,955 shares of the financial services provider’s stock worth $94,000 after acquiring an additional 214 shares during the period. Priebe Wealth Holdings LLC raised its position in shares of U.S. Bancorp by 4.4% during the 4th quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider’s stock valued at $243,000 after acquiring an additional 215 shares during the last quarter. Finally, Essex Savings Bank lifted its stake in shares of U.S. Bancorp by 1.8% in the 4th quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider’s stock valued at $591,000 after purchasing an additional 216 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Company Profile

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.