Raymond James Financial Issues Pessimistic Forecast for U.S. Bancorp (NYSE:USB) Stock Price

U.S. Bancorp (NYSE:USB) had its price objective dropped by equities researchers at Raymond James Financial from $74.00 to $72.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “strong-buy” rating on the financial services provider’s stock. Raymond James Financial’s price objective would indicate a potential upside of 28.35% from the stock’s current price.

Several other research firms have also issued reports on USB. UBS Group dropped their price objective on U.S. Bancorp from $66.00 to $64.00 and set a “neutral” rating on the stock in a research note on Monday. Keefe, Bruyette & Woods boosted their target price on U.S. Bancorp from $63.00 to $66.00 and gave the stock a “market perform” rating in a report on Friday, July 17th. Citigroup restated a “buy” rating on shares of U.S. Bancorp in a research note on Tuesday, September 22nd. Weiss Ratings restated a “buy (b)” rating on shares of U.S. Bancorp in a research note on Friday, July 31st. Finally, Barclays raised their price target on U.S. Bancorp from $67.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.31.

U.S. Bancorp Stock Down 2.1%

U.S. Bancorp stock opened at $56.09 on Tuesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.82. The company’s 50-day moving average is $61.72 and its 200-day moving average is $58.78. The firm has a market capitalization of $87.40 billion, a PE ratio of 11.20, a P/E/G ratio of 1.05 and a beta of 1.00. U.S. Bancorp has a fifty-two week low of $45.02 and a fifty-two week high of $66.07.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The business had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.58 billion. During the same period last year, the business posted $1.11 EPS. Sell-side analysts anticipate that U.S. Bancorp will post 5.25 earnings per share for the current year.

Insider Activity at U.S. Bancorp

In related news, CEO Gunjan Kedia sold 27,267 shares of the business’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $62.37, for a total value of $1,700,642.79. Following the completion of the sale, the chief executive officer directly owned 426,262 shares in the company, valued at $26,585,960.94. The trade was a 6.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen L. Philipson sold 36,906 shares of the company’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of $63.08, for a total value of $2,328,030.48. Following the completion of the transaction, the insider directly owned 74,969 shares in the company, valued at approximately $4,729,044.52. This represents a 32.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Rockland Trust Co. lifted its holdings in shares of U.S. Bancorp by 3.1% during the third quarter. Rockland Trust Co. now owns 17,817 shares of the financial services provider’s stock worth $1,029,000 after buying an additional 538 shares in the last quarter. QRG Capital Management Inc. grew its stake in shares of U.S. Bancorp by 15.2% in the second quarter. QRG Capital Management Inc. now owns 300,453 shares of the financial services provider’s stock valued at $18,147,000 after acquiring an additional 39,591 shares in the last quarter. Security National Bank of Sioux City Iowa IA bought a new position in U.S. Bancorp during the second quarter worth about $105,000. Keystone Financial Planning Inc. increased its position in U.S. Bancorp by 0.9% during the second quarter. Keystone Financial Planning Inc. now owns 226,360 shares of the financial services provider’s stock worth $13,672,000 after acquiring an additional 2,012 shares during the period. Finally, Tidal Investments LLC raised its stake in U.S. Bancorp by 14.4% in the 2nd quarter. Tidal Investments LLC now owns 111,909 shares of the financial services provider’s stock worth $6,759,000 after purchasing an additional 14,065 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Company Profile

U.S. Bancorp is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. The company provides banking, lending, payment, investment, and wealth management services to individuals, businesses, government entities, and institutional clients.

Through U.S. Bank, its principal subsidiary, U.S. Bancorp offers checking and savings accounts, credit cards, mortgages, consumer and business loans, commercial banking, treasury management, investment services, and financial planning.