Morgan Stanley Cuts U.S. Bancorp (NYSE:USB) Price Target to $59.00

U.S. Bancorp (NYSE:USB) had its price objective decreased by stock analysts at Morgan Stanley from $60.00 to $59.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 22.87% from the stock’s previous close.

USB has been the subject of several other reports. Truist Financial began coverage on U.S. Bancorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $54.00 price target for the company. Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft cut U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a research note on Thursday, October 24th. Evercore ISI raised their price objective on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Finally, Compass Point upped their price target on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, U.S. Bancorp has an average rating of “Moderate Buy” and an average target price of $54.21.

U.S. Bancorp Trading Down 0.0 %

U.S. Bancorp stock traded down $0.01 during midday trading on Friday, hitting $48.02. 8,475,619 shares of the stock were exchanged, compared to its average volume of 9,056,285. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The stock’s 50-day simple moving average is $50.25 and its 200 day simple moving average is $46.71. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The stock has a market capitalization of $74.91 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 2.47 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. The firm had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.99 EPS. On average, equities analysts anticipate that U.S. Bancorp will post 3.91 EPS for the current year.

Institutional Investors Weigh In On U.S. Bancorp

A number of large investors have recently bought and sold shares of USB. FMR LLC boosted its stake in shares of U.S. Bancorp by 32.7% during the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after acquiring an additional 15,746,852 shares during the last quarter. Franklin Resources Inc. lifted its holdings in U.S. Bancorp by 153.0% in the 3rd quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock valued at $374,573,000 after purchasing an additional 4,807,662 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of U.S. Bancorp by 723.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider’s stock worth $146,864,000 after purchasing an additional 2,821,642 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of U.S. Bancorp by 1,438.4% during the second quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider’s stock worth $89,853,000 after buying an additional 2,116,175 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of U.S. Bancorp by 109.7% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,531,400 shares of the financial services provider’s stock valued at $161,491,000 after buying an additional 1,847,000 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.