U.S. Bancorp (NYSE:USB) Receives $51.22 Average PT from Analysts

Shares of U.S. Bancorp (NYSE:USB) have received an average rating of “Hold” from the twenty brokerages that are covering the stock, MarketBeat.com reports. Twelve investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $51.22.

Several brokerages have recently issued reports on USB. Oppenheimer raised their price target on U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Stephens lifted their target price on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective for the company. in a research report on Thursday, October 24th. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $54.00 to $57.00 in a report on Monday, September 30th. Finally, Barclays lifted their price target on shares of U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, October 17th.

Insiders Place Their Bets

In related news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the completion of the sale, the insider now 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 document filed with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is owned by company insiders.

Hedge Funds Weigh In On U.S. Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Intech Investment Management LLC lifted its holdings in shares of U.S. Bancorp by 44.6% in the 1st quarter. Intech Investment Management LLC now owns 9,373 shares of the financial services provider’s stock valued at $419,000 after acquiring an additional 2,889 shares during the last quarter. UniSuper Management Pty Ltd boosted its stake in shares of U.S. Bancorp by 1,140.5% during the first quarter. UniSuper Management Pty Ltd now owns 20,382 shares of the financial services provider’s stock valued at $911,000 after purchasing an additional 18,739 shares in the last quarter. Bessemer Group Inc. boosted its position in U.S. Bancorp by 170.5% during the 1st quarter. Bessemer Group Inc. now owns 153,986 shares of the financial services provider’s stock valued at $6,883,000 after acquiring an additional 97,060 shares in the last quarter. Lake Street Advisors Group LLC increased its holdings in shares of U.S. Bancorp by 44.9% in the 1st quarter. Lake Street Advisors Group LLC now owns 10,962 shares of the financial services provider’s stock valued at $495,000 after acquiring an additional 3,396 shares during the period. Finally, National Bank of Canada FI raised its position in shares of U.S. Bancorp by 6.3% in the 1st quarter. National Bank of Canada FI now owns 652,120 shares of the financial services provider’s stock worth $27,280,000 after acquiring an additional 38,547 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $52.49 on Wednesday. The stock’s fifty day simple moving average is $47.63 and its 200 day simple moving average is $44.06. The stock has a market capitalization of $81.89 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 3.03 and a beta of 1.02. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. U.S. Bancorp has a 52-week low of $36.49 and a 52-week high of $52.69.

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

U.S. Bancorp announced that its Board of Directors has approved a share repurchase program on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.81%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s dividend payout ratio is 61.16%.

U.S. Bancorp Company Profile

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.