U.S. Bancorp (NYSE:USB) Hits New 52-Week High Following Analyst Upgrade


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Shares of U.S. Bancorp (NYSE:USB) reached a new 52-week high during trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $60.00 to $64.50. JPMorgan Chase & Co. currently has an overweight rating on the stock. U.S. Bancorp traded as high as $60.66 and last traded at $60.60, with a volume of 7497167 shares traded. The stock had previously closed at $59.29.

A number of other research firms have also recently commented on USB. Deutsche Bank Aktiengesellschaft lifted their target price on shares of U.S. Bancorp from $55.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, April 1st. Credit Suisse Group raised their price target on shares of U.S. Bancorp from $56.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, April 22nd. Bank of America raised shares of U.S. Bancorp from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $58.00 to $62.00 in a research report on Monday, April 19th. Robert W. Baird reissued a “neutral” rating and set a $55.00 price target on shares of U.S. Bancorp in a research report on Thursday, March 25th. Finally, Odeon Capital Group raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday, March 24th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. U.S. Bancorp presently has a consensus rating of “Buy” and an average price target of $57.59.

In other news, EVP Mark G. Runkel sold 9,058 shares of the stock in a transaction dated Wednesday, April 21st. The shares were sold at an average price of $56.85, for a total value of $514,947.30. Following the completion of the sale, the executive vice president now directly owns 36,572 shares in the company, valued at $2,079,118.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew Cecere sold 184,187 shares of the stock in a transaction dated Thursday, April 22nd. The shares were sold at an average price of $56.48, for a total transaction of $10,402,881.76. Following the completion of the sale, the chief executive officer now owns 1,037,110 shares of the company’s stock, valued at $58,575,972.80. The disclosure for this sale can be found here. In the last three months, insiders sold 251,779 shares of company stock valued at $14,319,060. 0.23% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Vantage Consulting Group Inc acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at about $27,000. Field & Main Bank acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at about $27,000. Salem Investment Counselors Inc. raised its position in shares of U.S. Bancorp by 92.3% in the fourth quarter. Salem Investment Counselors Inc. now owns 600 shares of the financial services provider’s stock valued at $28,000 after buying an additional 288 shares during the last quarter. Diversified LLC acquired a new stake in U.S. Bancorp during the fourth quarter worth about $28,000. Finally, Mascoma Wealth Management LLC acquired a new stake in U.S. Bancorp during the first quarter worth about $44,000. Institutional investors and hedge funds own 71.73% of the company’s stock.

The stock has a market capitalization of $91.06 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 2.26 and a beta of 1.09. The company’s 50-day moving average is $56.60 and its 200-day moving average is $48.52. The company has a quick ratio of 0.80, a current ratio of 0.82 and a debt-to-equity ratio of 0.90.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, April 14th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.49. U.S. Bancorp had a net margin of 18.68% and a return on equity of 10.99%. The firm had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.53 billion. During the same period last year, the business earned $0.72 earnings per share. U.S. Bancorp’s revenue was down 5.2% compared to the same quarter last year. Sell-side analysts anticipate that U.S. Bancorp will post 3.06 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 15th. Investors of record on Wednesday, March 31st were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend was Tuesday, March 30th. U.S. Bancorp’s payout ratio is currently 38.71%.

U.S. Bancorp Company Profile (NYSE:USB)

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments. The company offers depository services, including checking accounts, savings accounts, and time certificate contracts; lending services, such as traditional credit products; and credit card services, lease financing and import/export trade, asset-backed lending, agricultural finance, and other products.

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