U.S. Bancorp (NYSE:USB) Price Target Raised to $63.00

by · The Cerbat Gem

U.S. Bancorp (NYSE:USB – Free Report) had its price objective upped by Argus from $62.00 to $63.00 in a report issued on Thursday morning, Marketbeat.com reports. They currently have a buy rating on the financial services provider’s stock.

A number of other equities research analysts also recently issued reports on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of U.S. Bancorp from $58.00 to $59.00 and gave the company a “market perform” rating in a research report on Wednesday. The Goldman Sachs Group set a $52.00 price objective on shares of U.S. Bancorp and gave the stock a “neutral” rating in a research note on Friday, October 17th. DA Davidson lifted their target price on shares of U.S. Bancorp from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday. TD Cowen upped their target price on shares of U.S. Bancorp from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Wolfe Research cut U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.19.

View Our Latest Stock Report on USB

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $55.50 on Thursday. The firm’s 50 day moving average price is $52.57 and its 200-day moving average price is $49.10. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $56.70. The company has a quick ratio of 0.82, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $86.27 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 1.00 and a beta of 1.07.

U.S. Bancorp (NYSE:USB – Get Free Report) last announced its earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.07. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The company had revenue of $7.92 billion during the quarter, compared to analyst estimates of $7.31 billion. During the same period in the previous year, the business posted $1.07 earnings per share. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. Equities research analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $2.08 annualized dividend and a dividend yield of 3.7%. U.S. Bancorp’s payout ratio is currently 45.02%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Chemung Canal Trust Co. grew its holdings in shares of U.S. Bancorp by 205.5% during the third quarter. Chemung Canal Trust Co. now owns 68,327 shares of the financial services provider’s stock worth $3,302,000 after buying an additional 45,963 shares in the last quarter. Synergy Asset Management LLC boosted its position in U.S. Bancorp by 100.0% during the third quarter. Synergy Asset Management LLC now owns 119,962 shares of the financial services provider’s stock worth $5,428,000 after acquiring an additional 59,981 shares during the last quarter. Andra AP fonden boosted its position in U.S. Bancorp by 175.6% during the second quarter. Andra AP fonden now owns 458,400 shares of the financial services provider’s stock worth $20,743,000 after acquiring an additional 292,100 shares during the last quarter. Cardinal Capital Management Inc. grew its stake in U.S. Bancorp by 698.5% in the 3rd quarter. Cardinal Capital Management Inc. now owns 243,101 shares of the financial services provider’s stock worth $11,749,000 after acquiring an additional 212,655 shares during the period. Finally, DAVENPORT & Co LLC raised its holdings in U.S. Bancorp by 6.6% in the 3rd quarter. DAVENPORT & Co LLC now owns 214,901 shares of the financial services provider’s stock valued at $10,386,000 after acquiring an additional 13,280 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

About U.S. Bancorp

(Get Free Report)

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.

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