U.S. Bancorp (NYSE:USB) Upgraded at Evercore

Evercore upgraded shares of U.S. Bancorp (NYSE:USB) from an in-line rating to an outperform rating in a research report sent to investors on Monday, MarketBeat reports. They currently have $72.00 price target on the financial services provider’s stock.

Several other brokerages also recently commented on USB. Keefe, Bruyette & Woods lifted their target price on shares of U.S. Bancorp from $63.00 to $66.00 and gave the stock a “market perform” rating in a research note on Friday, July 17th. DA Davidson raised their price target on shares of U.S. Bancorp from $72.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, July 17th. Oppenheimer boosted their price objective on shares of U.S. Bancorp from $73.00 to $77.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Stephens upped their price objective 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. Finally, JPMorgan Chase & Co. raised U.S. Bancorp from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $65.00 to $67.50 in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

U.S. Bancorp Price Performance

USB opened at $64.48 on Monday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.82. The stock’s 50 day simple moving average is $58.48 and its 200 day simple moving average is $56.30. The firm has a market cap of $100.02 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 1.04 and a beta of 0.96. U.S. Bancorp has a 1 year low of $43.46 and a 1 year high of $64.84.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.07. The firm had revenue of $7.71 billion during the quarter, compared to the consensus estimate 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 previous year, the company posted $1.11 earnings per share. As a group, analysts predict that U.S. Bancorp will post 5.22 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.2%. U.S. Bancorp’s payout ratio is presently 41.52%.

Insider Activity

In related news, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the transaction, the executive vice president directly owned 51,292 shares of the company’s stock, valued at $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in USB. Clayton Financial Group LLC purchased a new stake in U.S. Bancorp in the fourth quarter worth $25,000. Financial Life Planners bought a new position in U.S. Bancorp in the first quarter worth $27,000. Main Street Group LTD purchased a new position in U.S. Bancorp during the first quarter valued at $28,000. JPL Wealth Management LLC purchased a new position in U.S. Bancorp during the third quarter valued at $28,000. Finally, Binnacle Investments Inc boosted its holdings in shares of U.S. Bancorp by 77.8% during the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock valued at $30,000 after buying an additional 273 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 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.