U.S. Bancorp (NYSE:USB – Free Report) had its price target upped by Royal Bank Of Canada from $61.00 to $68.00 in a research report report published on Friday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the financial services provider’s stock.
Other analysts have also recently issued research reports about the stock. UBS Group lifted their price target on shares of U.S. Bancorp from $58.00 to $66.00 and gave the company a “neutral” rating in a report on Tuesday, July 7th. Oppenheimer decreased their price objective on shares of U.S. Bancorp from $74.00 to $73.00 and set an “outperform” rating for the company in a report on Tuesday, June 30th. Robert W. Baird raised their target price on shares of U.S. Bancorp from $64.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday. Morgan Stanley lifted their target price on shares of U.S. Bancorp from $64.00 to $67.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Finally, JPMorgan Chase & Co. boosted their price target on shares of U.S. Bancorp from $57.50 to $65.00 and gave the company an “underweight” rating in a research report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $66.52.
U.S. Bancorp Trading Down 0.0%
U.S. Bancorp (NYSE:USB – Get Free Report) last released its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.07. The business had revenue of $7.71 billion during the quarter, compared to analysts’ expectations of $7.58 billion. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.During the same quarter last year, the business posted $1.11 EPS. Analysts predict that U.S. Bancorp will post 5.18 EPS for the current year.
U.S. Bancorp Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.52 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.08 annualized dividend and a dividend yield of 3.3%. U.S. Bancorp’s payout ratio is currently 41.52%.
Insider Buying and Selling at U.S. Bancorp
In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the transaction, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jodi L. Richard sold 40,000 shares of the firm’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the transaction, the insider directly owned 207,251 shares of the company’s stock, valued at $11,813,307. This represents a 16.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of USB. Vanguard Group Inc. increased its stake in shares of U.S. Bancorp by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider’s stock valued at $7,810,665,000 after purchasing an additional 1,828,404 shares in the last quarter. State Street Corp boosted its position in shares of U.S. Bancorp by 0.8% in the 4th quarter. State Street Corp now owns 69,701,898 shares of the financial services provider’s stock worth $3,755,083,000 after purchasing an additional 522,368 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of U.S. Bancorp by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 37,679,617 shares of the financial services provider’s stock worth $2,002,518,000 after purchasing an additional 443,646 shares in the last quarter. Norges Bank purchased a new stake in shares of U.S. Bancorp in the 4th quarter worth approximately $1,887,497,000. Finally, Auto Owners Insurance Co increased its position in U.S. Bancorp by 5,236.0% during the 4th quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock valued at $1,779,556,000 after buying an additional 32,725,000 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.
U.S. Bancorp News Summary
Here are the key news stories impacting U.S. Bancorp this week:
- Positive Sentiment: U.S. Bancorp posted Q2 earnings of $1.35 per share on revenue of $7.71 billion, both above estimates, with record quarterly revenue driven by loan growth, fee income, and a boost from its BTIG acquisition. U.S. Bancorp Q2 Earnings Beat Estimates on NII & Fee Revenue Growth
- Positive Sentiment: Management raised full-year revenue guidance to a 7% to 9% growth range, signaling confidence that momentum from higher net interest income and fee revenue will continue. Is USB’s Stronger Outlook And BTIG Fee Push Altering The Investment Case For U.S. Bancorp (USB)?
- Positive Sentiment: Several firms lifted price targets after the earnings release, including Oppenheimer, Wells Fargo, Truist, RBC, and Baird, reflecting improved sentiment around USB’s outlook. US Bancorp analysts boost their forecasts after upbeat Q2 results
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.
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