U.S. Bancorp (NYSE:USB) Price Target Raised to $61.00

U.S. Bancorp (NYSE:USB) had its price target upped by Barclays from $57.00 to $61.00 in a research note published on Monday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other equities analysts have also recently weighed in on USB. Piper Sandler upped their price target on U.S. Bancorp from $52.00 to $58.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Royal Bank of Canada set a $53.00 price objective on U.S. Bancorp in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lowered U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a research report on Thursday, October 24th. Compass Point raised their price target on shares of U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Stephens lifted their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.08.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $48.70 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The company has a market cap of $75.97 billion, a PE ratio of 14.89, a P/E/G ratio of 3.01 and a beta of 1.05. The company’s fifty day simple moving average is $50.20 and its 200-day simple moving average is $46.32. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The company had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same period last year, the company posted $1.05 earnings per share. The firm’s revenue was down 2.4% compared to the same quarter last year. As a group, equities research analysts anticipate that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp declared that its board has initiated a share buyback plan on Thursday, September 12th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date is Tuesday, December 31st. U.S. Bancorp’s payout ratio is 61.16%.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $49.03, for a total value of $1,225,750.00. Following the sale, the insider now directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.23% of the company’s stock.

Institutional Trading of U.S. Bancorp

A number of large investors have recently modified their holdings of USB. Lantz Financial LLC increased its stake in shares of U.S. Bancorp by 4.7% in the second quarter. Lantz Financial LLC now owns 48,116 shares of the financial services provider’s stock valued at $1,910,000 after purchasing an additional 2,179 shares during the period. Private Advisor Group LLC increased its position in U.S. Bancorp by 17.8% in the 2nd quarter. Private Advisor Group LLC now owns 110,806 shares of the financial services provider’s stock valued at $4,399,000 after acquiring an additional 16,745 shares during the period. Candriam S.C.A. raised its stake in U.S. Bancorp by 9.4% during the 2nd quarter. Candriam S.C.A. now owns 142,151 shares of the financial services provider’s stock valued at $5,643,000 after acquiring an additional 12,257 shares in the last quarter. Lake Street Advisors Group LLC boosted its position in U.S. Bancorp by 6.5% during the 2nd quarter. Lake Street Advisors Group LLC now owns 11,676 shares of the financial services provider’s stock worth $469,000 after acquiring an additional 714 shares during the period. Finally, Chris Bulman Inc bought a new position in shares of U.S. Bancorp in the second quarter worth $73,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

About U.S. Bancorp

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.