Shares of U.S. Bancorp (NYSE:USB – Get Free Report) have earned a consensus rating of “Moderate Buy” from the twenty-three analysts that are presently covering the stock, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $69.19.
Several research analysts have recently commented on the company. Robert W. Baird boosted their price objective on U.S. Bancorp from $64.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, July 17th. Royal Bank Of Canada dropped their target price on shares of U.S. Bancorp from $68.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, October 16th. CLSA set a $67.50 target price on shares of U.S. Bancorp in a research report on Monday, July 20th. Morgan Stanley set a $68.00 price target on shares of U.S. Bancorp in a research note on Friday, October 16th. Finally, BTIG Research set a $67.50 price target on shares of U.S. Bancorp in a report on Monday, July 20th.
Insider Buying and Selling
In related news, CEO Gunjan Kedia sold 27,267 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $62.37, for a total value of $1,700,642.79. Following the transaction, the chief executive officer owned 426,262 shares of the company’s stock, valued at $26,585,960.94. This represents a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is currently owned by corporate insiders.
Institutional Trading of U.S. Bancorp
A number of hedge funds have recently bought and sold shares of the company. Mufg Bank LTD. bought a new position in shares of U.S. Bancorp during the 2nd quarter valued at $2,680,199,000. Bank of America Corp DE lifted its stake in U.S. Bancorp by 6.9% in the first quarter. Bank of America Corp DE now owns 15,820,033 shares of the financial services provider’s stock worth $822,800,000 after purchasing an additional 1,022,898 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in U.S. Bancorp by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock valued at $539,232,000 after buying an additional 93,025 shares during the period. Bank of New York Mellon Corp purchased a new stake in U.S. Bancorp during the second quarter valued at about $536,457,000. Finally, First Trust Advisors LP boosted its position in U.S. Bancorp by 39.9% during the first quarter. First Trust Advisors LP now owns 8,118,845 shares of the financial services provider’s stock valued at $422,261,000 after buying an additional 2,314,081 shares during the period. Institutional investors own 77.60% of the company’s stock.
U.S. Bancorp Trading Up 0.1%
USB stock opened at $59.76 on Wednesday. The firm has a 50 day moving average of $60.08 and a 200-day moving average of $57.96. U.S. Bancorp has a 12 month low of $45.02 and a 12 month high of $66.07. The firm has a market capitalization of $93.12 billion, a P/E ratio of 11.65 and a beta of 1.00.
U.S. Bancorp (NYSE:USB – Get Free Report) last released its quarterly earnings results on Thursday, October 15th. The financial services provider reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.02. The firm had revenue of $8.04 billion during the quarter, compared to the consensus estimate of $8 billion. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.22 EPS. Sell-side analysts predict that U.S. Bancorp will post 5.29 EPS for the current year.
U.S. Bancorp Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.6%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 42.11%.
About U.S. Bancorp
U.S. Bancorp (NYSE: USB) is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. U.S. Bank provides banking, lending, payment, investment and wealth-management services to individuals, businesses, institutions and government entities.
The company’s consumer and business banking operations offer deposit accounts, mortgages, home-equity and consumer loans, credit cards, small-business banking and commercial lending.
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