U.S. Bancorp (NYSE:USB) Price Target Raised to $59.00

U.S. Bancorp (NYSE:USB) had its target price increased by Citigroup from $55.00 to $59.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

A number of other brokerages also recently weighed in on USB. Barclays decreased their target price on shares of U.S. Bancorp from $61.00 to $56.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Raymond James Financial reaffirmed an “outperform” rating and set a $51.00 target price (down previously from $57.00) on shares of U.S. Bancorp in a research note on Thursday, April 17th. Wolfe Research raised shares of U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 target price for the company in a research note on Thursday, April 3rd. Cowen began coverage on shares of U.S. Bancorp in a research note on Wednesday, May 14th. They set a “buy” rating for the company. Finally, Bank of America cut their price target on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Monday, March 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $51.34.

U.S. Bancorp Stock Up 0.5%

USB stock opened at $47.73 on Wednesday. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The business’s 50 day moving average price is $43.70 and its two-hundred day moving average price is $44.41. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $74.36 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 1.80 and a beta of 0.99.

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

U.S. Bancorp Announces Dividend

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

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani purchased 5,000 shares of the firm’s stock in a transaction on Monday, April 21st. The shares were acquired at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the completion of 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. FIL Ltd raised its position in U.S. Bancorp by 42.0% in the fourth quarter. FIL Ltd now owns 28,872 shares of the financial services provider’s stock worth $1,381,000 after acquiring an additional 8,542 shares during the period. Wesbanco Bank Inc. raised its position in U.S. Bancorp by 31.6% in the first quarter. Wesbanco Bank Inc. now owns 325,056 shares of the financial services provider’s stock worth $13,724,000 after acquiring an additional 78,146 shares during the period. Vanguard Group Inc. raised its position in U.S. Bancorp by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider’s stock worth $6,640,569,000 after acquiring an additional 1,079,056 shares during the period. M&T Bank Corp raised its position in shares of U.S. Bancorp by 36.9% during the 4th quarter. M&T Bank Corp now owns 1,158,848 shares of the financial services provider’s stock valued at $55,427,000 after purchasing an additional 312,504 shares during the period. Finally, Becker Capital Management Inc. raised its position in shares of U.S. Bancorp by 1.5% during the 4th quarter. Becker Capital Management Inc. now owns 560,095 shares of the financial services provider’s stock valued at $27,069,000 after purchasing an additional 8,204 shares during the period. 77.60% of the stock is currently owned by institutional investors.

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.