Research Analysts’ Weekly Ratings Changes for U.S. Bancorp (USB)

Several brokerages have updated their recommendations and price targets on shares of U.S. Bancorp (NYSE: USB) in the last few weeks:

• 10/2/2024 – U.S. Bancorp had its price target raised by analysts at Oppenheimer Holdings Inc. from $54.00 to $57.00. They now have an “outperform” rating on the stock.
• 10/2/2024 – U.S. Bancorp had its price target raised by analysts at Evercore ISI from $49.00 to $51.00. They now have an “in-line” rating on the stock.
• 9/30/2024 – U.S. Bancorp was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating. They now have a $57.00 price target on the stock, up previously from $54.00.
• 9/13/2024 – U.S. Bancorp had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $48.00 price target on the stock.
• 9/11/2024 – U.S. Bancorp had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $48.00 to $46.00. They now have a “neutral” rating on the stock.

U.S. Bancorp Stock Performance

Shares of NYSE USB traded down $0.22 during mid-day trading on Thursday, hitting $44.03. The company had a trading volume of 1,877,324 shares, compared to its average volume of 8,297,444. U.S. Bancorp has a 12 month low of $30.47 and a 12 month high of $47.31. The stock has a market cap of $68.71 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 3.06 and a beta of 1.04. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. The firm’s 50 day simple moving average is $44.51 and its two-hundred day simple moving average is $42.43.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.04. The company had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 earnings per share. As a group, equities research analysts forecast that U.S. Bancorp will post 3.86 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date of this dividend is Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s payout ratio is 66.23%.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was bought at an average price of $44.99 per share, with a total value of $449,900.00. Following the completion of the purchase, the director now owns 10,000 shares in the company, valued at approximately $449,900. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in U.S. Bancorp by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 135,371,282 shares of the financial services provider’s stock valued at $6,051,096,000 after purchasing an additional 502,776 shares in the last quarter. Davis Selected Advisers boosted its stake in U.S. Bancorp by 0.3% during the second quarter. Davis Selected Advisers now owns 14,228,444 shares of the financial services provider’s stock valued at $564,869,000 after buying an additional 43,437 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in U.S. Bancorp by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 13,312,930 shares of the financial services provider’s stock worth $528,523,000 after acquiring an additional 94,841 shares during the period. Legal & General Group Plc raised its position in U.S. Bancorp by 2.7% in the second quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider’s stock worth $491,364,000 after acquiring an additional 325,374 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in U.S. Bancorp by 2.9% in the 2nd quarter. Van ECK Associates Corp now owns 9,478,454 shares of the financial services provider’s stock valued at $376,295,000 after acquiring an additional 271,078 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

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.