U.S. Bancorp (NYSE:USB) Price Target Cut to $45.00 by Analysts at The Goldman Sachs Group

U.S. Bancorp (NYSE:USB - Get Free Report) had its price target reduced by equities researchers at The Goldman Sachs Group from $51.00 to $45.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the financial services provider's stock. The Goldman Sachs Group's price target indicates a potential upside of 5.23% from the company's current price.

USB has been the subject of a number of other research reports. DA Davidson upgraded U.S. Bancorp from a "neutral" rating to a "buy" rating and raised their target price for the company from $58.00 to $60.00 in a research note on Thursday, January 2nd. 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. Barclays raised their target price on U.S. Bancorp from $57.00 to $61.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. Raymond James upgraded U.S. Bancorp from a "market perform" rating to an "outperform" rating and set a $57.00 target price for the company in a research note on Thursday, December 19th. Finally, Oppenheimer raised their target price on U.S. Bancorp from $62.00 to $63.00 and gave the company an "outperform" rating in a research note on Friday, January 17th. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $53.93.

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U.S. Bancorp Trading Up 0.4 %

NYSE USB traded up $0.16 on Wednesday, hitting $42.77. The company's stock had a trading volume of 68,997,842 shares, compared to its average volume of 8,059,585. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The company's 50-day simple moving average is $46.31 and its 200 day simple moving average is $47.65. The firm has a market cap of $66.63 billion, a P/E ratio of 11.28, a PEG ratio of 1.73 and a beta of 1.02.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $7.01 billion during the quarter, compared to analysts' expectations of $7 billion. During the same quarter last year, the business posted $0.99 EPS. The business's revenue was up 3.7% on a year-over-year basis. Research analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

Insider Transactions at U.S. Bancorp

In related news, EVP James L. Chosy sold 21,451 shares of U.S. Bancorp stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total value of $1,022,140.15. Following the completion of the sale, the executive vice president now owns 198,127 shares of the company's stock, valued at $9,440,751.55. The trade was a 9.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jodi L. Richard sold 30,000 shares of U.S. Bancorp stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $47.59, for a total value of $1,427,700.00. Following the completion of the sale, the insider now directly owns 99,790 shares of the company's stock, valued at $4,749,006.10. The trade was a 23.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock worth $10,385,665 over the last quarter. 0.23% of the stock is currently owned by insiders.

Institutional Trading of U.S. Bancorp

Several large investors have recently modified their holdings of USB. Vanguard Group Inc. grew its holdings in U.S. Bancorp by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider's stock valued at $6,640,569,000 after purchasing an additional 1,079,056 shares during the period. State Street Corp grew its holdings in U.S. Bancorp by 1.2% during the third quarter. State Street Corp now owns 67,282,970 shares of the financial services provider's stock valued at $3,110,115,000 after purchasing an additional 819,805 shares during the period. FMR LLC grew its holdings in U.S. Bancorp by 5.0% during the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock valued at $3,210,624,000 after purchasing an additional 3,211,815 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of U.S. Bancorp by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider's stock valued at $2,381,443,000 after acquiring an additional 2,460,845 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of U.S. Bancorp by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 33,937,360 shares of the financial services provider's stock valued at $1,618,948,000 after acquiring an additional 850,763 shares in the last quarter. Institutional investors own 77.60% of the company's stock.

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.