U.S. Bancorp (NYSE:USB) Price Target Raised to $54.00

U.S. Bancorp (NYSE:USB) had its target price boosted by Evercore ISI from $51.00 to $54.00 in a report released on Wednesday, Benzinga reports. Evercore ISI currently has an in-line rating on the financial services provider’s stock.

USB has been the topic of a number of other reports. Citigroup increased their target price on shares of U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Jefferies Financial Group decreased their target price on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a report on Thursday, October 17th. Barclays lifted their price objective on U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Thirteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $50.87.

U.S. Bancorp Stock Down 1.0 %

NYSE:USB opened at $47.84 on Wednesday. U.S. Bancorp has a 52 week low of $32.39 and a 52 week high of $50.47. The stock’s fifty day moving average is $46.23 and its two-hundred day moving average is $43.05. The stock has a market capitalization of $74.65 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 2.88 and a beta of 1.03. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. The company had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. U.S. Bancorp’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period last year, the business posted $1.05 EPS. Research analysts anticipate that U.S. Bancorp will post 3.92 EPS for the current year.

U.S. Bancorp declared that its Board of Directors has approved a share repurchase plan on Thursday, September 12th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.50 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s dividend payout ratio is presently 61.16%.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction on Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the transaction, the insider now directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is owned by insiders.

Institutional Investors Weigh In On U.S. Bancorp

Several large investors have recently modified their holdings of USB. McAdam LLC boosted its holdings in shares of U.S. Bancorp by 2.5% in the third quarter. McAdam LLC now owns 8,503 shares of the financial services provider’s stock valued at $389,000 after acquiring an additional 209 shares in the last quarter. Covestor Ltd increased its position in U.S. Bancorp by 15.2% during the 3rd quarter. Covestor Ltd now owns 1,741 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 230 shares during the period. Valmark Advisers Inc. raised its stake in shares of U.S. Bancorp by 2.9% during the 2nd quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock worth $346,000 after buying an additional 242 shares in the last quarter. Phillips Wealth Planners LLC lifted its holdings in shares of U.S. Bancorp by 2.1% in the 3rd quarter. Phillips Wealth Planners LLC now owns 12,056 shares of the financial services provider’s stock valued at $593,000 after buying an additional 243 shares during the period. Finally, Waldron Private Wealth LLC boosted its stake in shares of U.S. Bancorp by 1.9% in the second quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock valued at $534,000 after buying an additional 247 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

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.