Morgan Stanley Has Lowered Expectations for U.S. Bancorp (NYSE:USB) Stock Price

U.S. Bancorp (NYSE:USB - Get Free Report) had its target price cut by equities research analysts at Morgan Stanley from $60.00 to $59.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the financial services provider's stock. Morgan Stanley's target price would suggest a potential upside of 21.91% from the stock's previous close.

A number of other equities analysts have also recently weighed in on the company. Deutsche Bank Aktiengesellschaft cut U.S. Bancorp from a "buy" rating to a "hold" rating and set a $51.00 price target for the company. in a report on Thursday, October 24th. Piper Sandler upgraded U.S. Bancorp from a "neutral" rating to an "overweight" rating and set a $58.00 target price on the stock in a research report on Monday, January 13th. DA Davidson raised shares of U.S. Bancorp from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Evercore ISI upped their price objective on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an "in-line" rating in a research report on Wednesday, October 30th. Finally, Robert W. Baird set a $54.00 target price on shares of U.S. Bancorp in a research report on Thursday, October 17th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $54.21.

U.S. Bancorp Stock Performance

U.S. Bancorp stock traded up $0.37 during midday trading on Friday, hitting $48.40. 14,819,489 shares of the company were exchanged, compared to its average volume of 5,864,763. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The firm has a market capitalization of $75.50 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05. The business has a fifty day simple moving average of $50.18 and a two-hundred day simple moving average of $46.78. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $7.01 billion for the quarter, compared to analysts' expectations of $7 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The business's revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the company earned $0.99 EPS. On average, sell-side analysts forecast that U.S. Bancorp will post 3.91 earnings per share for the current year.

Hedge Funds Weigh In On U.S. Bancorp

Large investors have recently made changes to their positions in the stock. Natixis Advisors LLC lifted its stake in U.S. Bancorp by 16.6% during the 3rd quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider's stock worth $18,348,000 after acquiring an additional 56,990 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of U.S. Bancorp during the fourth quarter worth about $1,018,000. M&T Bank Corp boosted its stake in shares of U.S. Bancorp by 2.8% in the third quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider's stock valued at $38,704,000 after purchasing an additional 22,803 shares during the period. Hilltop Holdings Inc. grew its holdings in shares of U.S. Bancorp by 184.3% in the third quarter. Hilltop Holdings Inc. now owns 70,283 shares of the financial services provider's stock valued at $3,214,000 after purchasing an additional 45,560 shares in the last quarter. Finally, Keystone Financial Planning Inc. increased its stake in U.S. Bancorp by 29.5% during the 4th quarter. Keystone Financial Planning Inc. now owns 72,614 shares of the financial services provider's stock worth $3,473,000 after buying an additional 16,552 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

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.