On September 17, 2023, U.S. Bancorp (NYSE: USB) experienced a decrease in its target price as reported by equities research analysts at Piper Sandler. The target price was revised from $41.00 to $40.00, indicating a potential upside of 11.98% from the company’s previous closing price.
USB opened at $35.72 on Friday and has seen a range of performance over the past twelve months, with a low of $27.27 and a high of $49.95. As a financial services provider, the company maintains ratios such as the quick ratio and current ratio, which stand at 0.80 for both. Additionally, it has a debt-to-equity ratio of 0.97.
Analyzing the company’s market trends, the 50-day moving average price is recorded at $37.18, while the 200-day moving average price stands at $35.34. With a market capitalization of $54.76 billion, U.S Bancorp operates with a PE ratio of 9.89 and demonstrates a price-to-earnings-growth ratio of 1.58. The company also exhibits a beta value of 0.98.
Notably, several hedge funds and institutional investors have made recent adjustments to their holdings in USB. SRS Capital Advisors Inc., for instance, increased its stake in the financial services provider by 46.9% during the fourth quarter, owning approximately 673 shares valued at $29,000 after an additional purchase of 215 shares.
Similarly,Vestcor Inc augmented its position by acquiring an extra 230 shares during the fourth quarter resulting in ownership of about33,480 shares worth roughly$1,460 million.Aside from these,the stake held by Sandy Spring Bank increased by their acquisition of additional254 shares totaling5,329shares amountingto$232000during that same quarter.
Another firm, Acadian Asset Management LLC, reported an increase of 276 shares during the first quarter, bringing their total ownership to 9,397 shares representing $499,000. Lastly, Gamco Investors INC. ET AL realized a 3.4% increase in their position during the first quarter through the acquisition of an additional 280 shares,resulting in their current possession of8,520 shares worth $453,000.
Hedge funds and institutional investors collectively own75.40% of U.S Bancorp’s stock presenting a notable interest in the company’s performance.
Turning to U.S. Bancorp’s quarterly earnings data released on July 19th, 2023,the financial services provider reported earnings per share (EPS) of $1.12 for the period.Q2 EPS felljust below the consensus estimate of $1.13 by ($0.01). The company displayed a return on equity (ROE)of16.53%, while exhibitinga netmargin of 16.59%. The reported revenue for the quarter stood at$7.17 billion compared toanalyst estimates also amounting to$7.17 billion.Last year during this samequarteruration,U.S.Bancorpcodes deliveredan EPS of $1.09.The firm’s revenue for this Q2 showed growth at approximately19.7% year-over-year.
Moving forward,sell-side analysts anticipate thatU.S Bancorp will achieve anearnings per share (EPS)of4.44for its present fiscal year.
In conclusion,U.S Bancorp has experienced a decrease in its target price.Although some hedge funds and institutional investors have increased or reduced their stakes in the company,it remains a significant player within the financial services sector.Moving forward,informed market participants will continue to monitor changes regarding U.S.Bancorp as it strives towards achieving shareholder value and delivering consistent financial results..
U.S. Bancorp
USB
Strong Buy
Updated on: 18/09/2023
One significant research report came from Oppenheimer, a prominent investment bank and financial services firm. In their report, Oppenheimer reduced their price target on shares of U.S. Bancorp from $70.00 to $67.00 while maintaining an “outperform” rating for the company. The revision in price target indicates a more conservative stance on the stock’s potential value.
Another research report came from Odeon Capital Group, which downgraded U.S. Bancorp from a “buy” rating to a “hold” rating. This decision reflects a shift in their assessment of the stock’s attractiveness as an investment option.
Morgan Stanley, a global financial services firm, reiterated their “equal weight” rating on shares of U.S. Bancorp and issued a price objective of $45.00. This rating signifies that the stock is expected to perform in line with its industry peers.
Citigroup, one of the world’s largest investment banks, also published a report on U.S. Bancorp, lowering their price objective from $39.00 to $33.00. The downward revision suggests that Citigroup believes the stock may experience challenges or face headwinds in achieving its previously estimated value.
In contrast to these revisions, The Goldman Sachs Group increased their price objective on shares of U.S. Bancorp from $34.00 to $39.00 while assigning it a “neutral” rating – indicating that they expect the stock to perform relatively in line with other similar stocks in the market.
Overall, these research reports showcase varying opinions and assessments of U.S. Bancorp’s prospects within the financial industry as analyzed by respective institutions.
In other news related to U.S. Bancorp, some insider trading activities have been reported. Timothy A. Welsh, an insider of the company, sold 13,816 shares of U.S. Bancorp’s stock on Thursday, August 10th. The average price of these shares was $39.79, resulting in a total transaction value of $549,738.64. Following this sale, Welsh now holds 119,058 shares which are valued at approximately $4,737,317.82.
Similarly, the firm’s CFO, Terrance R. Dolan, also engaged in insider selling by offloading 26,000 shares on Tuesday, August 8th at an average price of $39.75 per share. This brought the total transaction value to $1,033,500 as reported.
These transactions were disclosed through filings with the Securities & Exchange Commission (SEC). Such disclosures provide transparency and regulatory compliance for investors and other stakeholders.
It is important to note that these insider transactions can often provide valuable insights into a company’s financial health and management sentiment regarding its stock performance.
In summary, U.S. Bancorp has attracted significant attention from research reports and analysts within the financial industry regarding its performance and outlook for various investors and stakeholders to consider moving forward. Additionally, recent insider transactions by key figures within the company highlight management sentiment towards its own stock.
