Jefferies Financial Group upgraded shares of U.S. Bancorp (NYSE:USB) from a hold rating to a buy rating in a research note published on Wednesday, LiveTradingNews reports. Jefferies Financial Group also issued estimates for U.S. Bancorp’s Q4 2020 earnings at $0.97 EPS, FY2020 earnings at $3.08 EPS and Q1 2021 earnings at $0.99 EPS.
Several other research analysts also recently weighed in on USB. Deutsche Bank Aktiengesellschaft boosted their price target on U.S. Bancorp from $46.00 to $55.00 and gave the company a buy rating in a report on Wednesday, January 6th. TheStreet upgraded shares of U.S. Bancorp from a c rating to a b- rating in a research note on Thursday, October 15th. Bank of America downgraded shares of U.S. Bancorp from a neutral rating to an underperform rating and upped their price target for the company from $44.00 to $52.00 in a research report on Thursday, January 7th. Zacks Investment Research upgraded shares of U.S. Bancorp from a hold rating to a strong-buy rating and set a $52.00 price target on the stock in a research report on Thursday, December 17th. Finally, Morgan Stanley raised shares of U.S. Bancorp from an underweight rating to an equal weight rating and set a $57.00 price target for the company in a report on Monday, November 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $49.93.
Shares of USB traded up $0.19 during trading hours on Wednesday, hitting $49.70. The company had a trading volume of 174,890 shares, compared to its average volume of 6,968,870. U.S. Bancorp has a one year low of $28.36 and a one year high of $57.20. The company’s fifty day moving average price is $46.13 and its two-hundred day moving average price is $40.01. The company has a current ratio of 0.82, a quick ratio of 0.80 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $74.87 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 2.16 and a beta of 1.08.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Wednesday, December 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 38.71%.
U.S. Bancorp announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 22nd that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.
In related news, insider James B. Kelligrew sold 2,868 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $40.55, for a total transaction of $116,297.40. Following the sale, the insider now owns 60,933 shares of the company’s stock, valued at approximately $2,470,833.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PDS Planning Inc boosted its position in U.S. Bancorp by 3.5% during the 3rd quarter. PDS Planning Inc now owns 8,113 shares of the financial services provider’s stock worth $291,000 after purchasing an additional 273 shares during the period. Cambridge Advisors Inc. boosted its position in U.S. Bancorp by 3.2% during the 3rd quarter. Cambridge Advisors Inc. now owns 9,031 shares of the financial services provider’s stock worth $324,000 after purchasing an additional 280 shares during the period. World Asset Management Inc boosted its position in U.S. Bancorp by 0.5% during the 3rd quarter. World Asset Management Inc now owns 52,764 shares of the financial services provider’s stock worth $1,892,000 after purchasing an additional 286 shares during the period. Schulhoff & Co. Inc. boosted its position in U.S. Bancorp by 0.3% during the 3rd quarter. Schulhoff & Co. Inc. now owns 112,125 shares of the financial services provider’s stock worth $4,019,000 after purchasing an additional 288 shares during the period. Finally, Larson Financial Group LLC boosted its position in U.S. Bancorp by 14.5% in the 4th quarter. Larson Financial Group LLC now owns 2,287 shares of the financial services provider’s stock valued at $107,000 after buying an additional 289 shares during the last quarter. Institutional investors and hedge funds own 73.22% 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.
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