Truist Financial Issues Positive Forecast for U.S. Bancorp (NYSE:USB) Stock Price

U.S. Bancorp (NYSE:USB) had its target price lifted by Truist Financial from $51.00 to $52.00 in a report released on Friday morning, MarketBeat Ratings reports. They currently have a hold rating on the financial services provider’s stock.

Other equities research analysts also recently issued research reports about the company. The Goldman Sachs Group set a $52.00 price target on U.S. Bancorp and gave the stock a “neutral” rating in a research report on Friday. Morgan Stanley set a $56.00 price target on U.S. Bancorp and gave the company an “equal weight” rating in a research note on Monday, September 29th. Bank of America raised their target price on U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday. DA Davidson raised their target price on U.S. Bancorp from $49.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Finally, Citigroup raised their target price on U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.48.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $45.66 on Friday. The firm has a market cap of $71.06 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 1.33 and a beta of 1.06. The stock’s 50-day moving average is $47.93 and its 200-day moving average is $44.81. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.11. The business had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.U.S. Bancorp’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.03 earnings per share. Equities analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a dividend of $0.52 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.08 dividend on an annualized basis and a yield of 4.6%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 47.60%.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $46.34, for a total value of $1,099,509.18. Following the transaction, the executive vice president owned 70,346 shares in the company, valued at approximately $3,259,833.64. This represents a 25.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Crestwood Advisors Group LLC boosted its stake in U.S. Bancorp by 10.6% during the 1st quarter. Crestwood Advisors Group LLC now owns 6,784 shares of the financial services provider’s stock valued at $286,000 after purchasing an additional 649 shares during the last quarter. Ally Financial Inc. boosted its stake in U.S. Bancorp by 12.3% during the 1st quarter. Ally Financial Inc. now owns 91,000 shares of the financial services provider’s stock valued at $3,842,000 after purchasing an additional 10,000 shares during the last quarter. United Community Bank boosted its stake in U.S. Bancorp by 21.8% during the 1st quarter. United Community Bank now owns 49,066 shares of the financial services provider’s stock valued at $2,072,000 after purchasing an additional 8,796 shares during the last quarter. Jump Financial LLC boosted its stake in U.S. Bancorp by 1,952.5% during the 1st quarter. Jump Financial LLC now owns 840,308 shares of the financial services provider’s stock valued at $35,478,000 after purchasing an additional 799,368 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in U.S. Bancorp by 9.2% during the 1st quarter. Asset Management One Co. Ltd. now owns 653,367 shares of the financial services provider’s stock valued at $27,585,000 after purchasing an additional 55,054 shares during the last quarter. 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.