U.S. Bancorp (NYSE:USB) Coverage Initiated by Analysts at TD Cowen

Research analysts at TD Cowen started coverage on shares of U.S. Bancorp (NYSE:USB) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $70.00 price target on the financial services provider’s stock. TD Cowen’s target price indicates a potential upside of 24.55% from the stock’s current price.

A number of other equities analysts also recently commented on USB. BTIG Research set a $67.50 target price on shares of U.S. Bancorp in a research note on Monday, July 20th. Stephens raised their target price on shares of U.S. Bancorp from $63.00 to $67.00 and gave the company an “equal weight” rating in a research note on Friday, July 17th. DA Davidson lifted their price target on shares of U.S. Bancorp from $72.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, July 17th. HSBC lifted their price target on shares of U.S. Bancorp from $74.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, September 28th. Finally, Citigroup reaffirmed a “buy” rating on shares of U.S. Bancorp in a research note on Tuesday, September 22nd. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $67.48.

U.S. Bancorp Price Performance

U.S. Bancorp stock traded up $0.03 during mid-day trading on Thursday, reaching $56.20. The company had a trading volume of 323,858 shares, compared to its average volume of 9,210,881. The stock’s 50-day simple moving average is $61.72 and its 200-day simple moving average is $58.78. The company has a market capitalization of $87.56 billion, a P/E ratio of 11.22, a P/E/G ratio of 1.05 and a beta of 1.00. U.S. Bancorp has a 1 year low of $45.02 and a 1 year high of $66.07. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.82.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 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 for the quarter, compared to analyst estimates of $7.58 billion. During the same period in the prior year, the business earned $1.11 earnings per share. On average, equities 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 news, insider Stephen L. Philipson sold 36,906 shares of the firm’s stock in a transaction on Monday, July 20th. The stock was sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the sale, the insider owned 74,969 shares in the company, valued at $4,729,044.52. This trade represents a 32.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Gunjan Kedia sold 27,267 shares of the 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 transaction, the chief executive officer directly owned 426,262 shares in the company, valued at $26,585,960.94. This trade represents a 6.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in USB. Rockland Trust Co. raised its position in U.S. Bancorp by 3.1% in the third quarter. Rockland Trust Co. now owns 17,817 shares of the financial services provider’s stock valued at $1,029,000 after purchasing an additional 538 shares during the period. QRG Capital Management Inc. increased its position in shares of U.S. Bancorp by 15.2% during the second quarter. QRG Capital Management Inc. now owns 300,453 shares of the financial services provider’s stock worth $18,147,000 after acquiring an additional 39,591 shares during the last quarter. Security National Bank of Sioux City Iowa IA purchased a new stake in shares of U.S. Bancorp during the second quarter worth about $105,000. Keystone Financial Planning Inc. increased its position in shares of 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 last quarter. Finally, Tidal Investments LLC increased its position in shares of U.S. Bancorp by 14.4% during the second quarter. Tidal Investments LLC now owns 111,909 shares of the financial services provider’s stock worth $6,759,000 after acquiring an additional 14,065 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

About U.S. Bancorp

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.