U.S. Bancorp (NYSE:USB) Price Target Raised to $66.00 at Wells Fargo & Company

U.S. Bancorp (NYSE:USB) had its price objective hoisted by stock analysts at Wells Fargo & Company from $62.00 to $66.00 in a report released on Monday, MarketBeat.com reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 7.01% from the stock’s current price.

USB has been the subject of several other reports. Weiss Ratings upgraded shares of U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Stephens initiated coverage on U.S. Bancorp in a research report on Monday, June 15th. They set an “equal weight” rating and a $63.00 price objective for the company. Oppenheimer lowered their price objective on U.S. Bancorp from $74.00 to $73.00 and set an “outperform” rating for the company in a research note on Tuesday, June 30th. JPMorgan Chase & Co. dropped their target price on U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating on the stock in a report on Thursday, April 30th. Finally, DA Davidson reissued a “buy” rating and issued a $65.00 target price on shares of U.S. Bancorp in a research note on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $62.95.

U.S. Bancorp Stock Down 0.1%

Shares of U.S. Bancorp stock opened at $61.67 on Monday. U.S. Bancorp has a 1 year low of $43.46 and a 1 year high of $62.38. The firm has a market cap of $95.67 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 1.07 and a beta of 0.96. The company has a 50-day moving average of $56.57 and a 200 day moving average of $55.51. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, topping the consensus estimate of $1.14 by $0.04. The business had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. U.S. Bancorp’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.03 earnings per share. As a group, sell-side analysts anticipate that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the transaction, the executive vice president owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the transaction, the insider directly owned 207,251 shares in the company, valued at $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On U.S. Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the business. Inceptionr LLC increased its stake in shares of U.S. Bancorp by 424.4% in the fourth quarter. Inceptionr LLC now owns 27,614 shares of the financial services provider’s stock worth $1,473,000 after purchasing an additional 22,348 shares in the last quarter. Danske Bank A S purchased a new position in shares of U.S. Bancorp during the 3rd quarter valued at $37,162,000. Nordea Investment Management AB boosted its holdings in U.S. Bancorp by 15.3% in the 4th quarter. Nordea Investment Management AB now owns 2,690,174 shares of the financial services provider’s stock worth $144,462,000 after buying an additional 357,300 shares during the period. Lighthouse Investment Partners LLC increased its stake in U.S. Bancorp by 92.9% in the 3rd quarter. Lighthouse Investment Partners LLC now owns 252,335 shares of the financial services provider’s stock worth $12,195,000 after buying an additional 121,529 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in U.S. Bancorp by 2.6% in the 3rd quarter. Legal & General Group Plc now owns 9,238,404 shares of the financial services provider’s stock worth $446,492,000 after buying an additional 238,123 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

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.