U.S. Bancorp (NYSE:USB) Price Target Raised to $51.00

U.S. Bancorp (NYSE:USB) had its price objective increased by Morgan Stanley from $50.00 to $51.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

USB has been the topic of several other research reports. Keefe, Bruyette & Woods decreased their price objective on U.S. Bancorp from $54.00 to $49.00 and set a “market perform” rating on the stock in a report on Thursday, April 17th. Bank of America decreased their price target on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Monday, March 17th. Evercore ISI increased their price objective on U.S. Bancorp from $44.00 to $49.00 and gave the company an “in-line” rating in a research note on Wednesday, June 4th. Raymond James Financial reissued an “outperform” rating and set a $51.00 price objective (down previously from $57.00) on shares of U.S. Bancorp in a research note on Thursday, April 17th. Finally, TD Cowen began coverage on shares of U.S. Bancorp in a research note on Thursday, May 15th. They issued a “buy” rating and a $60.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $51.34.

U.S. Bancorp Trading Up 0.5%

USB stock opened at $47.73 on Thursday. The company has a market capitalization of $74.36 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 1.79 and a beta of 0.99. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.80. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The company’s 50 day moving average price is $43.54 and its two-hundred day moving average price is $44.42.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.06. The company had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.92 billion. U.S. Bancorp had a net margin of 15.70% and a return on equity of 13.02%. During the same quarter last year, the company earned $0.78 EPS. As a group, analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.00 annualized dividend and a yield of 4.19%. U.S. Bancorp’s payout ratio is 49.50%.

Insider Buying and Selling at U.S. Bancorp

In other news, Director Aleem Gillani bought 5,000 shares of the firm’s stock in a transaction dated Monday, April 21st. The stock was purchased at an average price of $37.32 per share, with a total value of $186,600.00. Following the transaction, the director owned 15,000 shares of the company’s stock, valued at approximately $559,800. The trade was a 50.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On U.S. Bancorp

Several hedge funds have recently made changes to their positions in USB. J.Safra Asset Management Corp purchased a new position in U.S. Bancorp during the fourth quarter valued at $26,000. Saudi Central Bank purchased a new stake in shares of U.S. Bancorp in the 1st quarter worth about $26,000. Westend Capital Management LLC bought a new position in shares of U.S. Bancorp in the 1st quarter worth about $27,000. YANKCOM Partnership lifted its position in U.S. Bancorp by 59.4% during the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 260 shares during the period. Finally, Picton Mahoney Asset Management bought a new stake in U.S. Bancorp during the fourth quarter worth about $30,000. 77.60% of the stock is currently owned by institutional investors.

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.