In a series of recent financial updates, shares of U.S. Bancorp (NYSE:USB) have been acquired in increased numbers by investment entities such as Bokf Na, Quadrature Capital Ltd, and CreativeOne Wealth LLC. Unfortunately, the bank's stock has been underperforming, trailing the S&P 500 by a significant 17% YTD. However, the company declared better-than-expected earnings for Q2 2024, which had a positive impact on the stock's market performance. It's also noted that investment giant UBS Group has increased its price target for the company to $46.
Despite mixed performance, the bank's stock has received several upgrades. Yet, Q2 earnings and revenues have been reported to exceed estimates. Unfortunately, the firm has faced a 24% loss over the last three years. Despite these headwinds, several entities including the Goldman Sachs Group have raised their price target for USB, implying a potential upside.
Regarding the bank's institutional backing, it stands robustly at 79%, suggesting a positive sentiment towards U.S. Bancorp. Lastly, Aleem Gillani, a board director, demonstrated his confidence in the bank by acquiring 10,000 additional shares.
US Bancorp USB News Analytics from Fri, 29 Dec 2023 08:00:00 GMT to Sun, 28 Jul 2024 21:48:43 GMT - Rating 2 - Innovation -1 - Information 8 - Rumor -3
