Raymond James Upgrades U.S. Bancorp (NYSE:USB) to "Outperform"

U.S. Bancorp (NYSE:USB - Get Free Report) was upgraded by research analysts at Raymond James from a "market perform" rating to an "outperform" rating in a research report issued on Thursday, MarketBeat Ratings reports. The firm currently has a $57.00 price target on the financial services provider's stock. Raymond James' price objective would suggest a potential upside of 20.23% from the stock's current price.

USB has been the subject of several other research reports. Morgan Stanley upgraded shares of U.S. Bancorp from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $54.00 to $57.00 in a research note on Monday, September 30th. Piper Sandler boosted their price target on U.S. Bancorp from $52.00 to $58.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 3rd. Evercore ISI lifted their price objective on U.S. Bancorp from $51.00 to $54.00 and gave the stock an "in-line" rating in a report on Wednesday, October 30th. Compass Point lifted their price objective on shares of U.S. Bancorp from $49.00 to $60.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Finally, Citigroup raised shares of U.S. Bancorp from a "neutral" rating to a "buy" rating and boosted their target price for the company from $49.00 to $65.00 in a research note on Monday, November 25th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $53.68.

U.S. Bancorp Price Performance

Shares of NYSE:USB traded down $0.20 during trading on Thursday, reaching $47.41. The stock had a trading volume of 9,802,869 shares, compared to its average volume of 8,225,994. The stock has a market cap of $73.96 billion, a PE ratio of 14.50, a PEG ratio of 3.03 and a beta of 1.03. The business has a fifty day moving average price of $50.14 and a 200-day moving average price of $45.44. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98. 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 Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.99 by $0.04. The firm had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The business's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.05 EPS. On average, equities analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp declared that its Board of Directors has initiated a share repurchase program on Thursday, September 12th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

Insider Transactions at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the company's stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the completion of the transaction, the insider now directly owns 129,790 shares of the company's stock, valued at approximately $6,363,603.70. This represents a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.23% of the company's stock.

Institutional Trading of U.S. Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in USB. Redwood Wealth Management Group LLC acquired a new stake in U.S. Bancorp in the 2nd quarter valued at $25,000. Frazier Financial Advisors LLC lifted its holdings in shares of U.S. Bancorp by 222.7% in the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 441 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in shares of U.S. Bancorp in the second quarter worth $30,000. Y.D. More Investments Ltd purchased a new position in shares of U.S. Bancorp during the second quarter worth approximately $33,000. Finally, Kimelman & Baird LLC purchased a new position in U.S. Bancorp during the 2nd quarter valued at $40,000. 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.