U.S. Bancorp (NYSE:USB) Rating Increased to Buy at HSBC

U.S. Bancorp (NYSE:USB) was upgraded by equities research analysts at HSBC from a “hold” rating to a “buy” rating in a research note issued on Thursday, Marketbeat.com reports. The brokerage currently has a $53.00 price objective on the financial services provider’s stock, up from their prior price objective of $47.00. HSBC’s price objective would indicate a potential upside of 20.45% from the company’s previous close.

A number of other equities analysts have also weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of U.S. Bancorp from $37.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, December 19th. Piper Sandler reissued a “neutral” rating on shares of U.S. Bancorp in a report on Friday, January 26th. UBS Group raised their target price on U.S. Bancorp from $35.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, January 17th. Robert W. Baird downgraded U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $52.00 target price for the company. in a report on Friday, December 15th. Finally, Stephens downgraded U.S. Bancorp from an “overweight” rating to an “equal weight” rating in a report on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp currently has an average rating of “Hold” and an average price target of $46.33.

U.S. Bancorp Stock Performance

NYSE:USB opened at $44.00 on Thursday. The firm’s fifty day moving average price is $41.92 and its 200 day moving average price is $38.80. U.S. Bancorp has a 1-year low of $27.27 and a 1-year high of $45.85. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $68.56 billion, a price-to-earnings ratio of 13.41, a price-to-earnings-growth ratio of 2.24 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.28. U.S. Bancorp had a net margin of 13.36% and a return on equity of 14.89%. The firm had revenue of $6.76 billion for the quarter, compared to analyst estimates of $6.85 billion. During the same period last year, the firm posted $1.20 EPS. U.S. Bancorp’s quarterly revenue was up 6.2% on a year-over-year basis. On average, sell-side analysts expect that U.S. Bancorp will post 3.89 EPS for the current year.

Insider Transactions at U.S. Bancorp

In other news, insider Timothy A. Welsh sold 12,100 shares of the business’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $40.33, for a total transaction of $487,993.00. Following the completion of the sale, the insider now owns 106,958 shares in the company, valued at approximately $4,313,616.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Terrance R. Dolan sold 26,583 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the completion of the sale, the insider now owns 144,236 shares in the company, valued at approximately $6,255,515.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Timothy A. Welsh sold 12,100 shares of the business’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $40.33, for a total value of $487,993.00. Following the sale, the insider now owns 106,958 shares of the company’s stock, valued at approximately $4,313,616.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,265 shares of company stock worth $2,535,903. 0.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On U.S. Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of USB. CGC Financial Services LLC acquired a new position in U.S. Bancorp during the 4th quarter worth approximately $25,000. BKM Wealth Management LLC acquired a new position in U.S. Bancorp during the 4th quarter worth approximately $26,000. Planned Solutions Inc. acquired a new position in U.S. Bancorp during the 4th quarter worth approximately $27,000. Legacy Financial Group LLC acquired a new position in U.S. Bancorp during the 3rd quarter worth approximately $30,000. Finally, Naples Money Management LLC acquired a new position in U.S. Bancorp during the 4th quarter worth approximately $30,000. 77.60% of the stock is owned by institutional investors and hedge funds.

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.