U.S. Bancorp (NYSE:USB) Price Target Raised to $68.00

U.S. Bancorp (NYSE:USB) had its price objective increased by Robert W. Baird from $64.00 to $68.00 in a report issued on Friday morning, Marketbeat.com reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

Other equities research analysts have also recently issued reports about the stock. Weiss Ratings upgraded shares of U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Stephens initiated coverage on shares of U.S. Bancorp in a report on Monday, June 15th. They issued an “equal weight” rating and a $63.00 price objective on the stock. UBS Group increased their price objective on shares of U.S. Bancorp from $58.00 to $66.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. lifted their target price on shares of U.S. Bancorp from $57.50 to $65.00 and gave the company an “underweight” rating in a report on Monday, July 6th. Finally, Wells Fargo & Company boosted their target price on U.S. Bancorp from $62.00 to $66.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $66.52.

U.S. Bancorp Stock Down 0.0%

Shares of NYSE:USB opened at $63.14 on Friday. The business has a 50-day moving average price of $57.89 and a 200 day moving average price of $56.09. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $97.93 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 1.07 and a beta of 0.96. U.S. Bancorp has a 12-month low of $43.46 and a 12-month high of $64.84.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The firm had revenue of $7.71 billion for the quarter, compared to analyst estimates of $7.58 billion. During the same period in the previous year, the firm earned $1.11 EPS. Sell-side analysts expect that U.S. Bancorp will post 5.18 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.08 annualized dividend and a dividend yield of 3.3%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 41.52%.

Insider Buying and Selling

In related news, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, May 5th. The shares were 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. The trade was a 40.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jodi L. Richard sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the sale, the insider directly owned 207,251 shares in the company, valued at approximately $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.21% of the company’s stock.

Institutional Trading of U.S. Bancorp

A number of large investors have recently modified their holdings of USB. Inceptionr LLC boosted its stake in U.S. Bancorp by 424.4% during the 4th quarter. Inceptionr LLC now owns 27,614 shares of the financial services provider’s stock worth $1,473,000 after purchasing an additional 22,348 shares during the period. Nordea Investment Management AB increased its stake in U.S. Bancorp by 15.3% in the fourth quarter. Nordea Investment Management AB now owns 2,690,174 shares of the financial services provider’s stock valued at $144,462,000 after purchasing an additional 357,300 shares during the period. Savvy Advisors Inc. raised its holdings in shares of U.S. Bancorp by 244.4% in the fourth quarter. Savvy Advisors Inc. now owns 30,872 shares of the financial services provider’s stock valued at $1,647,000 after buying an additional 21,907 shares during the last quarter. Cardinal Capital Management Inc. raised its holdings in shares of U.S. Bancorp by 17.3% in the fourth quarter. Cardinal Capital Management Inc. now owns 285,196 shares of the financial services provider’s stock valued at $15,218,000 after buying an additional 42,095 shares during the last quarter. Finally, Keudell Morrison Wealth Management acquired a new stake in shares of U.S. Bancorp during the fourth quarter worth about $2,856,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Key U.S. Bancorp News

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

U.S. Bancorp Company Profile

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.