RBC Capital Cuts U.S. Bancorp (USB) Price Target to $65

RBC Capital has reiterated its Outperform rating on U.S. Bancorp (NYSE: USB) on October 16, 2026, with a new price target of $65.00, down from a prior target of $68.00. This target reflects the firm’s continued confidence in the bank's performance despite the adjustment.

U.S. Bancorp recently traded around $58.59, which is about 9.9% below RBC's new price target. This suggests that analysts see potential for the stock to rise, even though it is currently under the target price.

Other Institutional Activity in U.S. Bancorp

Several other institutional investors have also adjusted their positions in U.S. Bancorp. Blackrock Inc. reduced its stake by 1,232,348 shares, ending with 127,137,222 shares valued at about $7.47 billion. Vanguard Capital Management LLC added 413,644 shares, bringing its total to 101,302,511 shares worth approximately $5.95 billion. State Street Corporation increased its holdings by 3,727,317 shares, resulting in a total of 73,137,322 shares valued at around $4.30 billion. Conversely, JPMorgan Chase & Co. decreased its position by 1,998,581 shares, holding 59,686,029 shares worth about $3.51 billion, while FMR, LLC cut its stake by 5,888,874 shares, totaling 51,284,661 shares valued at approximately $3.01 billion.

U.S. Bancorp Stock Up 2.1%

U.S. Bancorp has seen its shares hover near recent levels, trading at $58.59 as of October 16, 2026. This price is below the 52-week high, indicating potential upward movement if the company continues to perform well. The stock's recent performance is noticeable as it trades below RBC's price target.

Recent Earnings

In its most recent earnings report, U.S. Bancorp posted trailing twelve-month revenue of approximately $27.32 billion, with a net margin of 29.9% and a return on equity of 12.6%. The next earnings report is anticipated on October 20, 2026, which could provide further insights into the company's performance.

Dividend

U.S. Bancorp pays an annual dividend of $2.16 per share, with a payout ratio of 41.5%.

Insider Buying and Selling at U.S. Bancorp

Insider trading activity at U.S. Bancorp includes several notable sales. On May 5, 2026, Chief Technology Officer Venkatachari Dilip sold 34,522 shares at an average price of $55.52, totaling about $1.92 million. Officer Stephen L. Philipson sold 36,906 shares on July 20, 2026, for approximately $2.33 million at an average price of $63.08. General Counsel James L. Chosy sold 22,968 shares on July 23, 2026, at an average price of $63.28, totaling around $1.45 million. CEO Gunjan Kedia sold 27,267 shares on August 28, 2026, for about $1.70 million at an average price of $62.37.

Analysts Set New Price Targets

On the same day, several firms maintained their ratings on U.S. Bancorp. Citigroup maintained a Buy rating with a price target of $70.00, down from $72.00. DA Davidson kept its Buy rating with a target of $73.00. Oppenheimer also maintained its Outperform rating with a target of $73.00. Evercore ISI Group raised its rating to Outperform with a new target of $67.00, up from $65.00.

About U.S. Bancorp

U.S. Bancorp is a financial services holding company based in Minneapolis, MN. It offers a range of financial services, including consumer and business banking, wealth management, and payment services. The company has around 70,000 employees and serves a diverse client base, including individuals, businesses, and government entities.

Bottom Line

Investors will want to keep an eye on U.S. Bancorp as it approaches its next earnings date on October 20, 2026. The recent analyst ratings and targets suggest a cautious optimism about the company’s future performance.