U.S. Bancorp (NYSE:USB) had its price objective raised by Wedbush from $46.00 to $49.00 in a research report report published on Thursday, RTT News reports. The firm currently has a neutral rating on the financial services provider’s stock.
USB has been the subject of several other research reports. JPMorgan Chase & Co. began coverage on shares of Pinduoduo in a report on Tuesday, July 9th. They set an underweight rating and a $20.48 target price for the company. Morgan Stanley increased their price target on shares of Yum! Brands from $97.00 to $106.00 and gave the company an equal weight rating in a research note on Thursday. Zacks Investment Research upgraded shares of GreenTree Hospitality Group from a sell rating to a hold rating in a research note on Monday, April 15th. Bank of America increased their price target on shares of Micron Technology from $45.00 to $60.00 and gave the company an average rating in a research note on Thursday. Finally, Oppenheimer set a $15.00 price target on shares of Strongbridge Biopharma and gave the company a buy rating in a research note on Tuesday, March 26th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. U.S. Bancorp presently has a consensus rating of Hold and a consensus price target of $56.63.
Shares of USB opened at $55.00 on Thursday. U.S. Bancorp has a 12 month low of $43.14 and a 12 month high of $55.56. The stock’s fifty day simple moving average is $52.69. The firm has a market capitalization of $87.87 billion, a PE ratio of 13.08, a price-to-earnings-growth ratio of 1.85 and a beta of 1.06. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.84 and a quick ratio of 0.83.
U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.02. U.S. Bancorp had a net margin of 26.70% and a return on equity of 15.45%. The business had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same quarter in the prior year, the company posted $1.02 earnings per share. The firm’s revenue was down 1.1% on a year-over-year basis. On average, equities research analysts predict that U.S. Bancorp will post 4.27 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend was Thursday, June 27th. U.S. Bancorp’s dividend payout ratio is currently 36.10%.
U.S. Bancorp announced that its Board of Directors has approved a share repurchase plan on Thursday, June 27th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 3.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
In other news, Vice Chairman Gillern Jeffry H. Von sold 4,669 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $53.14, for a total transaction of $248,110.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Leslie V. Godridge sold 12,564 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $51.53, for a total transaction of $647,422.92. Following the sale, the insider now owns 39,330 shares of the company’s stock, valued at approximately $2,026,674.90. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Executive Wealth Management LLC acquired a new stake in shares of U.S. Bancorp during the 4th quarter worth about $27,000. Trustcore Financial Services LLC acquired a new stake in shares of U.S. Bancorp during the 1st quarter worth about $28,000. Catamount Wealth Management lifted its stake in shares of U.S. Bancorp by 525.0% during the 1st quarter. Catamount Wealth Management now owns 750 shares of the financial services provider’s stock worth $36,000 after buying an additional 630 shares during the last quarter. New Potomac Partners LLC acquired a new stake in shares of U.S. Bancorp during the 1st quarter worth about $37,000. Finally, CNB Bank lifted its stake in shares of U.S. Bancorp by 161.0% during the 1st quarter. CNB Bank now owns 783 shares of the financial services provider’s stock worth $38,000 after buying an additional 483 shares during the last quarter. Institutional investors own 74.63% of the company’s stock.
U.S. Bancorp Company Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
See Also: Net Margin
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