Barclays Cuts U.S. Bancorp (NYSE:USB) Price Target to $56.00

U.S. Bancorp (NYSE:USB - Get Free Report) had its price objective cut by Barclays from $61.00 to $56.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the financial services provider's stock. Barclays's price target points to a potential upside of 43.55% from the company's previous close.

Other equities research analysts also recently issued research reports about the company. Truist Financial cut their price target on U.S. Bancorp from $51.00 to $48.00 and set a "hold" rating for the company in a report on Thursday, April 17th. 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 report on Thursday, December 19th. Piper Sandler raised U.S. Bancorp from a "neutral" rating to an "overweight" rating and set a $58.00 price target for the company in a report on Monday, January 13th. DA Davidson raised U.S. Bancorp from a "neutral" rating to a "buy" rating and upped their price objective for the company from $58.00 to $60.00 in a report on Thursday, January 2nd. Finally, Keefe, Bruyette & Woods dropped their target price on U.S. Bancorp from $54.00 to $49.00 and set a "market perform" rating for the company in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $50.66.

U.S. Bancorp Stock Up 3.2 %

NYSE USB traded up $1.20 during trading hours on Thursday, hitting $39.01. 8,295,614 shares of the company traded hands, compared to its average volume of 9,026,840. The stock has a market capitalization of $60.78 billion, a price-to-earnings ratio of 10.29, a P/E/G ratio of 1.73 and a beta of 0.91. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The business's 50-day moving average is $42.35 and its 200-day moving average is $46.76. 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 - Get Free Report) last issued its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.06. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.92 billion. During the same period in the previous year, the company earned $0.78 earnings per share. Sell-side analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani acquired 5,000 shares of U.S. Bancorp stock in a transaction dated Monday, April 21st. The stock was purchased at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the completion of the acquisition, the director now directly owns 15,000 shares of the company's stock, valued at $559,800. This represents a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Terrance R. Dolan sold 66,317 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were 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 directly owns 209,482 shares in the company, valued at approximately $9,837,274.72. The trade was a 24.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 219,812 shares of company stock worth $10,385,665 over the last ninety days. Insiders own 0.23% of the company's stock.

Institutional Trading of U.S. Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. grew its holdings in U.S. Bancorp by 8.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 217,657 shares of the financial services provider's stock worth $9,189,000 after buying an additional 17,630 shares in the last quarter. Center for Financial Planning Inc. raised its holdings in shares of U.S. Bancorp by 5.1% in the first quarter. Center for Financial Planning Inc. now owns 9,493 shares of the financial services provider's stock valued at $401,000 after purchasing an additional 464 shares during the last quarter. Synergy Asset Management LLC lifted its position in shares of U.S. Bancorp by 33,683.8% during the first quarter. Synergy Asset Management LLC now owns 104,392 shares of the financial services provider's stock valued at $4,407,000 after purchasing an additional 104,083 shares in the last quarter. Buck Wealth Strategies LLC boosted its holdings in U.S. Bancorp by 63.2% during the first quarter. Buck Wealth Strategies LLC now owns 22,417 shares of the financial services provider's stock worth $946,000 after purchasing an additional 8,680 shares during the last quarter. Finally, Midwest Financial Group LLC grew its position in U.S. Bancorp by 2.8% in the 1st quarter. Midwest Financial Group LLC now owns 32,751 shares of the financial services provider's stock worth $1,383,000 after purchasing an additional 897 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

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.