U.S. Bancorp (NYSE:USB) Stock Rating Upgraded by Piper Sandler

Piper Sandler upgraded shares of U.S. Bancorp (NYSE:USB) from a neutral rating to an overweight rating in a report issued on Monday morning, Marketbeat Ratings reports. The brokerage currently has $58.00 price target on the financial services provider’s stock.

USB has been the topic of a number of other reports. Raymond James upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a report on Thursday, December 19th. Compass Point upped their price objective on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Wells Fargo & Company lifted their target price on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $54.00 to $57.00 in a research note on Monday, September 30th. Finally, Citigroup raised U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $49.00 to $65.00 in a research report on Monday, November 25th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $54.07.

U.S. Bancorp Trading Up 2.1 %

Shares of USB opened at $48.38 on Monday. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a 50 day simple moving average of $50.22 and a 200-day simple moving average of $46.61. The stock has a market cap of $75.47 billion, a price-to-earnings ratio of 14.80, a price-to-earnings-growth ratio of 3.01 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter last year, the business posted $1.05 earnings per share. U.S. Bancorp’s revenue was down 2.4% compared to the same quarter last year. Equities analysts forecast that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.13%. U.S. Bancorp’s dividend payout ratio (DPR) is 61.16%.

Insider Transactions at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On U.S. Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Global Wealth Strategies & Associates increased its position in shares of U.S. Bancorp by 70.8% during the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 250 shares during the last quarter. Redwood Wealth Management Group LLC purchased a new stake in U.S. Bancorp during the 2nd quarter worth approximately $25,000. Frazier Financial Advisors LLC increased its holdings in U.S. Bancorp by 222.7% during the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 441 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of U.S. Bancorp during the 4th quarter valued at approximately $38,000. Finally, First Financial Corp IN acquired a new stake in shares of U.S. Bancorp during the fourth quarter worth approximately $41,000. 77.60% of the stock is owned by institutional investors and hedge funds.

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.