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

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

A number of other analysts have also recently weighed in on USB. Oppenheimer lowered their price target on U.S. Bancorp from $66.00 to $62.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $54.00 to $57.00 in a report on Monday, September 30th. Stephens lifted their price target on U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. The Goldman Sachs Group reduced their price target on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Finally, Evercore ISI boosted 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 note on Wednesday, October 30th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Hold” and an average price target of $54.07.

U.S. Bancorp Price Performance

NYSE:USB opened at $48.50 on Monday. The company has a market capitalization of $75.66 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 3.01 and a beta of 1.05. The company has a 50-day moving average of $50.20 and a 200-day moving average of $46.40. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81.

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, topping analysts’ consensus estimates of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The firm had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter last year, the company earned $1.05 earnings per share. The company’s revenue for the quarter 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 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.12%. U.S. Bancorp’s dividend payout ratio is 61.16%.

U.S. Bancorp announced that its Board of Directors has approved a stock buyback program on Thursday, September 12th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to buy up to 7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On U.S. Bancorp

Several large investors have recently made changes to their positions in USB. Redwood Wealth Management Group LLC acquired a new position in U.S. Bancorp in the 2nd quarter worth $25,000. Frazier Financial Advisors LLC boosted its position in shares of U.S. Bancorp by 222.7% during the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after buying an additional 441 shares during the period. Global Wealth Strategies & Associates grew its holdings 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 buying an additional 250 shares in the last quarter. Y.D. More Investments Ltd acquired a new stake in U.S. Bancorp in the 2nd quarter valued at approximately $33,000. Finally, Kimelman & Baird LLC bought a new stake in U.S. Bancorp in the 2nd quarter valued at approximately $40,000. Institutional investors 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.