HSBC Issues Positive Forecast for U.S. Bancorp (NYSE:USB) Stock Price

U.S. Bancorp (NYSE:USB) had its target price boosted by HSBC from $74.00 to $76.00 in a research note released on Monday morning, MarketBeat reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Other equities research analysts also recently issued research reports about the company. Barclays raised their target price on shares of U.S. Bancorp from $67.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Wells Fargo & Company upped their price target on shares of U.S. Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Stephens increased their price target on shares of U.S. Bancorp from $63.00 to $67.00 and gave the company an “equal weight” rating in a research note on Friday, July 17th. Morgan Stanley lifted their price objective on shares of U.S. Bancorp from $64.00 to $67.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Finally, Robert W. Baird upped their target price on shares of U.S. Bancorp from $64.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.65.

U.S. Bancorp Stock Performance

Shares of USB opened at $58.74 on Monday. The stock has a market capitalization of $91.52 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 1.05 and a beta of 0.95. U.S. Bancorp has a 12 month low of $45.02 and a 12 month high of $66.07. The firm has a fifty day simple moving average of $62.62 and a 200 day simple moving average of $58.49. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.07. The business had revenue of $7.69 billion for the quarter, compared to analyst estimates 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 in the prior year, the company posted $1.11 earnings per share. Research analysts forecast that U.S. Bancorp will post 5.25 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a $0.54 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.52. The ex-dividend date is Wednesday, September 30th. This represents a $2.16 dividend on an annualized basis and a yield of 3.7%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 41.52%.

Insider Activity at U.S. Bancorp

In other news, insider Stephen L. Philipson sold 36,906 shares of the business’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the completion of the sale, the insider owned 74,969 shares in the company, valued at $4,729,044.52. The trade was a 32.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Gunjan Kedia sold 27,267 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $26,585,960.94. This trade represents a 6.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On U.S. Bancorp

Hedge funds have recently bought and sold shares of the business. Inceptionr LLC grew its holdings in shares of U.S. Bancorp by 424.4% during the fourth 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 last quarter. Dimensional Fund Advisors LP raised its holdings in U.S. Bancorp by 0.9% in the 1st 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 last quarter. Mufg Bank LTD. acquired a new stake in U.S. Bancorp during the 2nd quarter worth approximately $2,680,199,000. SG Americas Securities LLC boosted its position in U.S. Bancorp by 51.4% during the 1st quarter. SG Americas Securities LLC now owns 6,559,944 shares of the financial services provider’s stock worth $341,183,000 after buying an additional 2,227,285 shares during the period. Finally, Illinois Municipal Retirement Fund grew its holdings in U.S. Bancorp by 57.1% during the 1st quarter. Illinois Municipal Retirement Fund now owns 92,257 shares of the financial services provider’s stock worth $4,798,000 after acquiring an additional 33,517 shares during the last quarter. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Company Profile

U.S. Bancorp is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. The company provides banking, lending, payment, investment, and wealth management services to individuals, businesses, government entities, and institutional clients.

Through U.S. Bank, its principal subsidiary, U.S. Bancorp offers checking and savings accounts, credit cards, mortgages, consumer and business loans, commercial banking, treasury management, investment services, and financial planning.