TD Cowen Reaffirms “Buy” Rating for U.S. Bancorp (NYSE:USB)

U.S. Bancorp (NYSE:USB)‘s stock had its “buy” rating reissued by research analysts at TD Cowen in a research report issued on Thursday, Benzinga reports. They currently have a $70.00 price target on the financial services provider’s stock. TD Cowen’s price target would indicate a potential upside of 24.88% from the company’s previous close.

USB has been the topic of several other research reports. Citigroup reiterated a “buy” rating on shares of U.S. Bancorp in a research note on Tuesday, September 22nd. Keefe, Bruyette & Woods increased their price target on U.S. Bancorp from $63.00 to $66.00 and gave the company a “market perform” rating in a research note on Friday, July 17th. Raymond James Financial cut their price target on U.S. Bancorp from $74.00 to $72.00 and set a “strong-buy” rating for the company in a report on Tuesday. Truist Financial reduced their price objective on U.S. Bancorp from $69.00 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, October 1st. Finally, Wells Fargo & Company lifted their price objective on shares of U.S. Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a research note 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.48.

U.S. Bancorp Trading Down 0.2%

U.S. Bancorp stock opened at $56.05 on Thursday. U.S. Bancorp has a 52-week low of $45.02 and a 52-week high of $66.07. The company has a market cap of $87.34 billion, a P/E ratio of 11.18, a P/E/G ratio of 1.05 and a beta of 1.00. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96. The business has a 50-day simple moving average of $61.72 and a two-hundred day simple moving average of $58.78.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.07. The company had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.58 billion. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. During the same quarter last year, the firm posted $1.11 earnings per share. Analysts predict that U.S. Bancorp will post 5.25 EPS for the current year.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, CEO Gunjan Kedia sold 27,267 shares of the business’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the transaction, the chief executive officer owned 426,262 shares in the company, valued at $26,585,960.94. The trade was a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Stephen L. Philipson sold 36,906 shares of the stock in a transaction on Monday, July 20th. The shares were sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the completion of the sale, 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 position. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in USB. Archer Investment Corp purchased a new stake in U.S. Bancorp in the 2nd quarter valued at about $29,000. Parvin Asset Management LLC bought a new stake in shares of U.S. Bancorp during the second quarter valued at approximately $30,000. Financial Life Planners purchased a new stake in shares of U.S. Bancorp in the first quarter valued at approximately $27,000. Main Street Group LTD purchased a new stake in shares of U.S. Bancorp in the first quarter valued at approximately $28,000. Finally, NFSG Corp bought a new position in U.S. Bancorp in the first quarter worth approximately $31,000. 77.60% of the stock is currently owned by institutional investors.

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.