U.S. Bancorp (NYSE:USB) Price Target Raised to $66.00

U.S. Bancorp (NYSE:USB) had its price objective raised by UBS Group from $64.00 to $66.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

Other equities analysts have also recently issued reports about the company. TD Cowen initiated coverage on U.S. Bancorp in a report on Thursday, October 8th. They set a “buy” rating and a $70.00 target price for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of U.S. Bancorp in a research note on Thursday, October 29th. Royal Bank Of Canada cut their price target on shares of U.S. Bancorp from $68.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, October 16th. CLSA set a $67.50 price target on shares of U.S. Bancorp in a research report on Monday, July 20th. Finally, Wall Street Zen raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.36.

U.S. Bancorp Stock Performance

NYSE:USB opened at $61.05 on Monday. The company’s 50-day moving average price is $59.77 and its 200-day moving average price is $58.13. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.87. The company has a market cap of $95.11 billion, a P/E ratio of 11.67, a P/E/G ratio of 1.14 and a beta of 1.02. U.S. Bancorp has a twelve month low of $45.02 and a twelve month high of $66.07.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, October 15th. The financial services provider reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.02. The firm had revenue of $8.04 billion for the quarter, compared to analysts’ expectations of $8 billion. U.S. Bancorp had a net margin of 18.85% and a return on equity of 13.85%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.22 EPS. On average, sell-side analysts forecast that U.S. Bancorp will post 5.30 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.54 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $2.16 annualized dividend and a dividend yield of 3.5%. U.S. Bancorp’s dividend payout ratio is presently 42.11%.

Insider Activity

In related news, CEO Gunjan Kedia sold 27,267 shares of the business’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the completion of the transaction, the chief executive officer owned 426,262 shares in the company, valued at approximately $26,585,960.94. The trade was a 6.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On U.S. Bancorp

Several institutional investors have recently added to or reduced their stakes in the business. Mufg Bank LTD. bought a new position in U.S. Bancorp in the 2nd quarter valued at $2,680,199,000. Bank of New York Mellon Corp bought a new position in shares of U.S. Bancorp in the second quarter worth $536,457,000. First Trust Advisors LP increased its holdings in shares of U.S. Bancorp by 39.9% in the first quarter. First Trust Advisors LP now owns 8,118,845 shares of the financial services provider’s stock worth $422,261,000 after purchasing an additional 2,314,081 shares during the period. KBC Group NV increased its holdings in shares of U.S. Bancorp by 259.0% in the first quarter. KBC Group NV now owns 1,888,428 shares of the financial services provider’s stock worth $98,217,000 after purchasing an additional 1,362,416 shares during the period. Finally, Amundi raised its position in shares of U.S. Bancorp by 25.2% in the first quarter. Amundi now owns 6,470,642 shares of the financial services provider’s stock worth $336,538,000 after buying an additional 1,301,547 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 (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.