U.S. Bancorp (NYSE:USB) Rating Increased to Buy at HSBC

U.S. Bancorp (NYSE:USB) was upgraded by investment analysts at HSBC from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, MarketBeat Ratings reports. The firm currently has a $53.00 price target on the financial services provider’s stock, up from their previous price target of $47.00. HSBC’s price objective suggests a potential upside of 20.45% from the company’s current price.

USB has been the subject of a number of other research reports. Piper Sandler restated a “neutral” rating on shares of U.S. Bancorp in a research report on Friday, January 26th. Oppenheimer dropped their target price on shares of U.S. Bancorp from $61.00 to $55.00 and set an “outperform” rating for the company in a research report on Tuesday, March 19th. Royal Bank of Canada increased their price objective on shares of U.S. Bancorp from $43.00 to $47.00 and gave the company an “outperform” rating in a research report on Thursday, January 18th. Odeon Capital Group upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $48.93 price objective for the company in a research report on Thursday, December 14th. Finally, Stephens lowered shares of U.S. Bancorp from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $46.33.

U.S. Bancorp Stock Performance

USB opened at $44.00 on Thursday. The firm has a market cap of $68.56 billion, a P/E ratio of 13.41, a PEG ratio of 2.24 and a beta of 1.04. U.S. Bancorp has a 1-year low of $27.27 and a 1-year high of $45.85. The company has a 50 day simple moving average of $41.92 and a two-hundred day simple moving average of $38.80. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, January 17th. The financial services provider reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.28. U.S. Bancorp had a net margin of 13.36% and a return on equity of 14.89%. The firm had revenue of $6.76 billion during the quarter, compared to analyst estimates of $6.85 billion. During the same quarter in the prior year, the business earned $1.20 earnings per share. U.S. Bancorp’s revenue for the quarter was up 6.2% on a year-over-year basis. Equities analysts forecast that U.S. Bancorp will post 3.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Timothy A. Welsh sold 12,100 shares of the firm’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $40.33, for a total value of $487,993.00. Following the sale, the insider now directly owns 106,958 shares in the company, valued at approximately $4,313,616.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Terrance R. Dolan sold 26,583 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total value of $1,152,904.71. Following the completion of the sale, the insider now directly owns 144,236 shares in the company, valued at approximately $6,255,515.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Timothy A. Welsh sold 12,100 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $40.33, for a total transaction of $487,993.00. Following the completion of the sale, the insider now owns 106,958 shares of the company’s stock, valued at $4,313,616.14. The disclosure for this sale can be found here. Insiders have sold a total of 60,265 shares of company stock worth $2,535,903 in the last three months. Corporate insiders own 0.23% of the company’s stock.

Institutional Trading of U.S. Bancorp

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in U.S. Bancorp by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider’s stock worth $4,513,127,000 after purchasing an additional 6,479,642 shares in the last quarter. Mufg Bank LTD. boosted its stake in U.S. Bancorp by 54.1% in the 3rd quarter. Mufg Bank LTD. now owns 68,374,155 shares of the financial services provider’s stock worth $2,260,450,000 after purchasing an additional 24,000,000 shares in the last quarter. State Street Corp raised its position in U.S. Bancorp by 4.0% during the 2nd quarter. State Street Corp now owns 60,462,681 shares of the financial services provider’s stock worth $2,026,405,000 after buying an additional 2,300,777 shares during the last quarter. Moneta Group Investment Advisors LLC raised its position in U.S. Bancorp by 130,768.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 60,273,882 shares of the financial services provider’s stock worth $2,628,544,000 after buying an additional 60,227,825 shares during the last quarter. Finally, FMR LLC raised its position in U.S. Bancorp by 1.8% during the 3rd quarter. FMR LLC now owns 37,470,199 shares of the financial services provider’s stock worth $1,238,765,000 after buying an additional 674,583 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

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.