US Bancorp (USB) Receives a Rating Update from a Top Analyst

RBC Capital analyst Gerard Cassidy maintained a Buy rating on US Bancorp (USBResearch Report) on December 22 and set a price target of $55.00. The company’s shares closed yesterday at $43.20.

Cassidy covers the Financial sector, focusing on stocks such as Fifth Third Bancorp, KeyCorp, and Bank of America. According to TipRanks, Cassidy has an average return of 17.8% and a 59.36% success rate on recommended stocks.

In addition to RBC Capital, US Bancorp also received a Buy from KBW’s David Konrad in a report issued on December 12. However, on December 20, D.A. Davidson initiated coverage with a Hold rating on US Bancorp (NYSE: USB).

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Based on US Bancorp’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $6.3 billion and a net profit of $1.81 billion. In comparison, last year the company earned a revenue of $5.86 billion and had a net profit of $2.03 billion

Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of USB in relation to earlier this year. Earlier this month, Andrew Cecere, the COB, Pres & CEO of USB sold 84,948.00 shares for a total of $3,695,238.00.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Minnesota-based U.S. Bancorp is a financial services holding company and offers services including lending and depository services, cash management, foreign exchange and trust and investment management. It also offers mortgage, refinance, auto, boat & RV loans, credit lines, credit card services, merchant, bank, checking & savings accounts, debit cards, online & mobile banking, ATM processing, mortgage banking, insurance, brokerage and leasing services.

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