Evercore ISI Lowers USB Target; HSBC Flags Repricing Across Bank Stocks

U.S. Bancorp (NYSE:USB) is included among the 15 Best Consistent Dividend Stocks to Buy Right Now.

Evercore ISI Lowers USB Target; HSBC Flags Repricing Across Bank Stocks

On April 6, Evercore ISI lowered its price recommendation on U.S. Bancorp (NYSE:USB) to $58 from $65. It reiterated an In Line rating on the shares. The change came as part of the firm’s Q1 preview for banks and specialty finance.

On April 1, HSBC analyst Saul Martinez lowered the firm’s price objective on USB to $63 from $70 and kept a Buy rating on the shares. The firm said markets have “quickly repriced” higher downside macro risk along with renewed credit concerns across U.S. bank stocks. It also noted that the multi-year return on equity expansion is now “less clearly priced in” for universal banks, which is creating opportunities, the analyst said in a research note. As a result, HSBC upgraded both Bank of America and Wells Fargo to Buy.

U.S. Bancorp (NYSE:USB) is a financial services holding company. Its segments include Wealth, Corporate, Commercial and Institutional Banking, Consumer and Business Banking, Payment Services, and Treasury and Corporate Support.

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