Truist Financial Has Lowered Expectations for U.S. Bancorp (NYSE:USB) Stock Price

U.S. Bancorp (NYSE:USB - Get Free Report) had its price target decreased by investment analysts at Truist Financial from $51.00 to $48.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a "hold" rating on the financial services provider's stock. Truist Financial's price objective would indicate a potential upside of 23.05% from the stock's previous close.

Several other equities research analysts have also recently issued reports on the stock. Oppenheimer raised their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an "outperform" rating in a research note on Friday, January 17th. Wolfe Research raised shares of U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 target price for the company in a research note on Thursday, April 3rd. DA Davidson upgraded U.S. Bancorp from a "neutral" rating to a "buy" rating and boosted their price target for the company from $58.00 to $60.00 in a report on Thursday, January 2nd. Barclays raised their price objective on U.S. Bancorp from $57.00 to $61.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Finally, Piper Sandler upgraded U.S. Bancorp from a "neutral" rating to an "overweight" rating and set a $58.00 target price for the company in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $50.66.

U.S. Bancorp Price Performance

NYSE:USB traded up $1.20 during mid-day trading on Thursday, hitting $39.01. 8,295,604 shares of the company's stock traded hands, compared to its average volume of 9,026,825. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The company has a market cap of $60.78 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 1.73 and a beta of 0.91. The firm's 50 day simple moving average is $42.35 and its 200 day simple moving average is $46.76. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.06. The firm had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.92 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. During the same period in the previous year, the firm posted $0.78 EPS. Sell-side analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

Insider Buying and Selling

In other news, insider Terrance R. Dolan sold 66,317 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value of $3,114,246.32. Following the completion of the sale, the insider now owns 209,482 shares of the company's stock, valued at approximately $9,837,274.72. The trade was a 24.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Aleem Gillani purchased 5,000 shares of U.S. Bancorp stock in a transaction dated Monday, April 21st. The shares were bought at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the transaction, the director now directly owns 15,000 shares of the company's stock, valued at approximately $559,800. The trade was a 50.00 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of U.S. Bancorp during the 4th quarter valued at approximately $777,524,000. Invesco Ltd. raised its holdings in shares of U.S. Bancorp by 48.1% during the fourth quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider's stock worth $802,947,000 after purchasing an additional 5,449,949 shares during the period. Franklin Resources Inc. lifted its position in shares of U.S. Bancorp by 153.0% in the 3rd quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider's stock worth $374,573,000 after buying an additional 4,807,662 shares during the last quarter. Marshall Wace LLP grew its position in shares of U.S. Bancorp by 414.1% during the 4th quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider's stock valued at $276,915,000 after buying an additional 4,663,518 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in U.S. Bancorp during the fourth quarter worth about $184,733,000. Institutional investors 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.