U.S. Bancorp (NYSE:USB) Sets New 1-Year High on Analyst Upgrade

U.S. Bancorp (NYSE:USB)’s stock price hit a new 52-week high on Thursday after JPMorgan Chase & Co. upgraded the stock from a neutral rating to an overweight rating. JPMorgan Chase & Co. now has a $60.00 price target on the stock. U.S. Bancorp traded as high as $57.63 and last traded at $56.08, with a volume of 25525 shares traded. The stock had previously closed at $56.81.

A number of other equities research analysts have also weighed in on USB. Stephens upped their target price on shares of U.S. Bancorp from $52.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, March 30th. Morgan Stanley raised their price objective on U.S. Bancorp from $57.00 to $58.00 and gave the company an “equal weight” rating in a research note on Monday, March 8th. Credit Suisse Group raised their price target on shares of U.S. Bancorp from $50.00 to $56.00 and gave the company a “neutral” rating in a research report on Wednesday, March 31st. Odeon Capital Group raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday, March 24th. Finally, Citigroup raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $53.00 to $55.00 in a research report on Friday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. U.S. Bancorp presently has a consensus rating of “Buy” and a consensus target price of $53.28.

Several hedge funds and other institutional investors have recently modified their holdings of USB. Vantage Consulting Group Inc purchased a new stake in U.S. Bancorp during the fourth quarter valued at about $27,000. Field & Main Bank bought a new stake in shares of U.S. Bancorp in the fourth quarter valued at approximately $27,000. Salem Investment Counselors Inc. lifted its stake in shares of U.S. Bancorp by 92.3% during the 4th quarter. Salem Investment Counselors Inc. now owns 600 shares of the financial services provider’s stock valued at $28,000 after buying an additional 288 shares in the last quarter. Diversified LLC bought a new position in U.S. Bancorp in the 4th quarter worth approximately $28,000. Finally, Valley Brook Capital Group purchased a new position in U.S. Bancorp in the 4th quarter valued at approximately $37,000. 71.73% of the stock is currently owned by hedge funds and other institutional investors.

The firm has a 50-day simple moving average of $53.30 and a 200-day simple moving average of $45.75. The company has a quick ratio of 0.80, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. The stock has a market cap of $84.82 billion, a PE ratio of 18.81, a P/E/G ratio of 2.26 and a beta of 1.09.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Tuesday, January 19th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.95. U.S. Bancorp had a return on equity of 10.99% and a net margin of 18.68%. The company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same period in the previous year, the company posted $0.90 EPS. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, research analysts expect that U.S. Bancorp will post 3.06 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Wednesday, March 31st will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Tuesday, March 30th. U.S. Bancorp’s payout ratio is 38.71%.

U.S. Bancorp declared that its Board of Directors has approved a stock repurchase plan on Tuesday, December 22nd that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

About U.S. Bancorp (NYSE:USB)

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments. The company offers depository services, including checking accounts, savings accounts, and time certificate contracts; lending services, such as traditional credit products; and credit card services, lease financing and import/export trade, asset-backed lending, agricultural finance, and other products.

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