U.S. Bancorp (NYSE:USB) Price Target Raised to $62.00

U.S. Bancorp (NYSE:USB) had its price target raised by JPMorgan Chase & Co. from $55.50 to $62.00 in a report issued on Monday,Benzinga reports. The firm currently has an underweight rating on the financial services provider’s stock.

A number of other analysts also recently issued reports on USB. Royal Bank Of Canada lifted their price target on U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. UBS Group restated a “neutral” rating and set a $60.00 target price on shares of U.S. Bancorp in a research note on Wednesday, February 4th. Keefe, Bruyette & Woods increased their price target on shares of U.S. Bancorp from $58.00 to $59.00 and gave the company a “market perform” rating in a research note on Wednesday, January 21st. Argus lifted their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Finally, Citigroup upped their price objective on shares of U.S. Bancorp from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.79.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $58.99 on Monday. The business has a 50-day simple moving average of $55.17 and a 200-day simple moving average of $50.18. The company has a market cap of $91.70 billion, a PE ratio of 12.77, a P/E/G ratio of 1.09 and a beta of 1.06. U.S. Bancorp has a one year low of $35.18 and a one year high of $61.19. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.26 EPS for the quarter, topping the consensus estimate of $1.19 by $0.07. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The company had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.31 billion. During the same quarter in the previous year, the business posted $1.07 EPS. The firm’s revenue was up 5.1% on a year-over-year basis. On average, equities research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.5%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 45.02%.

Insider Buying and Selling

In other U.S. Bancorp news, insider Mark G. Runkel sold 32,195 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the completion of the sale, the insider directly owned 97,728 shares of the company’s stock, valued at approximately $5,927,203.20. This trade represents a 24.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On U.S. Bancorp

Several hedge funds have recently modified their holdings of USB. Paulson Wealth Management Inc. raised its holdings in U.S. Bancorp by 2.0% during the fourth quarter. Paulson Wealth Management Inc. now owns 8,780 shares of the financial services provider’s stock worth $469,000 after purchasing an additional 173 shares in the last quarter. Gilbert & Cook Inc. raised its stake in shares of U.S. Bancorp by 1.2% during the 4th quarter. Gilbert & Cook Inc. now owns 15,590 shares of the financial services provider’s stock worth $832,000 after buying an additional 184 shares in the last quarter. Flputnam Investment Management Co. lifted its holdings in shares of U.S. Bancorp by 1.4% in the 4th quarter. Flputnam Investment Management Co. now owns 13,721 shares of the financial services provider’s stock valued at $732,000 after buying an additional 186 shares during the period. Genesis Private Wealth LLC boosted its stake in shares of U.S. Bancorp by 2.3% in the fourth quarter. Genesis Private Wealth LLC now owns 8,348 shares of the financial services provider’s stock valued at $445,000 after buying an additional 187 shares in the last quarter. Finally, RiverFront Investment Group LLC boosted its stake in shares of U.S. Bancorp by 3.0% in the fourth quarter. RiverFront Investment Group LLC now owns 6,623 shares of the financial services provider’s stock valued at $353,000 after buying an additional 196 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.