Barclays Issues Positive Forecast for U.S. Bancorp (NYSE:USB) Stock Price

U.S. Bancorp (NYSE:USB) had its price target lifted by analysts at Barclays from $57.00 to $61.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s target price would indicate a potential upside of 23.58% from the company’s previous close.

Several other equities analysts also recently issued reports on the stock. Robert W. Baird set a $54.00 price objective on shares of U.S. Bancorp in a research note on Thursday, October 17th. Compass Point boosted their price objective on U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Stephens raised their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price target for the stock from $58.00 to $60.00 in a research note on Thursday. Finally, Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $54.08.

U.S. Bancorp Price Performance

U.S. Bancorp stock traded up $0.50 during midday trading on Monday, reaching $49.36. The company had a trading volume of 1,996,993 shares, compared to its average volume of 4,812,395. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The company has a market capitalization of $77.00 billion, a P/E ratio of 15.09, a P/E/G ratio of 3.03 and a beta of 1.03. The firm’s fifty day simple moving average is $50.20 and its 200-day simple moving average is $46.25.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The company had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter last year, the firm earned $1.05 earnings per share. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. As a group, equities analysts anticipate that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp announced that its Board of Directors has initiated a stock buyback plan on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction 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 transaction, the insider now owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This represents a 16.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.23% of the company’s stock.

Institutional Trading of U.S. Bancorp

A number of hedge funds have recently added to or reduced their stakes in USB. Global Wealth Strategies & Associates grew its holdings in U.S. Bancorp by 70.8% in the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 250 shares during the period. Redwood Wealth Management Group LLC purchased a new position in shares of U.S. Bancorp in the 2nd quarter worth $25,000. Frazier Financial Advisors LLC boosted its holdings in 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 acquiring an additional 441 shares during the last quarter. Y.D. More Investments Ltd purchased a new stake in U.S. Bancorp during the second quarter valued at about $33,000. Finally, Legacy Investment Solutions LLC purchased a new stake in U.S. Bancorp during the third quarter valued at about $40,000. 77.60% of the stock is owned by institutional investors and hedge funds.

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.