U.S. Bancorp (NYSE:USB) Upgraded at DA Davidson

DA Davidson upgraded shares of U.S. Bancorp (NYSE:USB) from a neutral rating to a buy rating in a research note released on Thursday, Marketbeat.com reports. They currently have $60.00 price target on the financial services provider’s stock, up from their prior price target of $58.00.

Other analysts have also recently issued reports about the company. Piper Sandler boosted 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. Evercore ISI lifted their target price on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Compass Point upped their price target on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a report on Thursday, October 24th. Finally, Wells Fargo & Company boosted their price objective 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. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $53.88.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $48.86 on Thursday. U.S. Bancorp has a one year low of $37.81 and a one 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 company has a market cap of $76.22 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 3.03 and a beta of 1.03. The firm has a 50 day simple moving average of $50.20 and a 200 day simple moving average of $46.16.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. The company had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. U.S. Bancorp’s revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.05 EPS. Research analysts predict that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date is Tuesday, December 31st. U.S. Bancorp’s payout ratio is 61.16%.

U.S. Bancorp declared that its Board of Directors has authorized a stock repurchase plan on Thursday, September 12th that authorizes the company to buyback $5.00 billion in outstanding 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 usually a sign that the company’s management believes its shares are undervalued.

Insider Transactions at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction that occurred on 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 $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.23% of the company’s stock.

Institutional Trading of U.S. Bancorp

Several hedge funds have recently bought and sold shares of USB. FMR LLC increased its holdings in U.S. Bancorp by 32.7% during the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock worth $2,922,784,000 after purchasing an additional 15,746,852 shares in the last quarter. Franklin Resources Inc. grew its holdings in U.S. Bancorp by 153.0% during the third quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock worth $374,573,000 after buying an additional 4,807,662 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in U.S. Bancorp by 723.7% during the third quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider’s stock worth $146,864,000 after buying an additional 2,821,642 shares in the last quarter. Marshall Wace LLP raised its position in U.S. Bancorp by 1,438.4% in the 2nd quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider’s stock valued at $89,853,000 after buying an additional 2,116,175 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in U.S. Bancorp by 313.8% during the 2nd quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock valued at $105,903,000 after acquiring an additional 2,046,522 shares in the last quarter. 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.