TD Cowen Forecasts Strong Price Appreciation for U.S. Bancorp (NYSE:USB) Stock

U.S. Bancorp (NYSE:USB) had its target price upped by stock analysts at TD Cowen from $60.00 to $65.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. TD Cowen’s price target indicates a potential upside of 17.65% from the stock’s previous close.

USB has been the topic of a number of other research reports. Keefe, Bruyette & Woods raised their price objective on U.S. Bancorp from $53.00 to $58.00 and gave the company a “market perform” rating in a research report on Wednesday, December 17th. Cowen restated a “buy” rating on shares of U.S. Bancorp in a report on Wednesday. Oppenheimer dropped their target price on U.S. Bancorp from $66.00 to $64.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 19th. The Goldman Sachs Group set a $52.00 price target on U.S. Bancorp and gave the company a “neutral” rating in a research note on Friday, October 17th. Finally, Wells Fargo & Company boosted their price target on U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.30.

U.S. Bancorp Stock Down 1.5%

USB stock traded down $0.83 during trading on Wednesday, hitting $55.25. 3,325,787 shares of the company’s stock traded hands, compared to its average volume of 8,912,525. The firm has a market capitalization of $85.88 billion, a P/E ratio of 12.64, a PEG ratio of 0.97 and a beta of 1.07. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $56.19. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10. The business has a fifty day simple moving average of $50.56 and a two-hundred day simple moving average of $48.34.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The business had revenue of $7.34 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter last year, the firm earned $1.03 EPS. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. Sell-side analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

Insider Activity

In other news, EVP James L. Chosy sold 26,909 shares of the stock in a transaction on Monday, October 20th. The shares were sold at an average price of $46.86, for a total value of $1,260,955.74. Following the sale, the executive vice president owned 226,375 shares in the company, valued at $10,607,932.50. This represents a 10.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Andrew Cecere sold 140,445 shares of the business’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the transaction, the chairman owned 1,360,414 shares of the company’s stock, valued at $63,041,584.76. This represents a 9.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On U.S. Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of U.S. Bancorp in the second quarter valued at approximately $971,285,000. Davis Selected Advisers increased its position in U.S. Bancorp by 29.8% during the second quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock worth $874,757,000 after purchasing an additional 4,442,623 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in U.S. Bancorp by 1,589.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,472,252 shares of the financial services provider’s stock worth $157,119,000 after purchasing an additional 3,266,724 shares during the period. AQR Capital Management LLC raised its position in shares of U.S. Bancorp by 354.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,855,350 shares of the financial services provider’s stock valued at $129,205,000 after buying an additional 2,227,103 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of U.S. Bancorp by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 143,269,275 shares of the financial services provider’s stock valued at $6,482,935,000 after purchasing an additional 2,038,996 shares during the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.