U.S. Bancorp (NYSE:USB) Price Target Increased to $49.00 by Analysts at Citigroup

U.S. Bancorp (NYSE:USB) had its price target increased by Citigroup from $45.00 to $49.00 in a research report sent to investors on Thursday, Benzinga reports. Citigroup currently has a neutral rating on the financial services provider’s stock.

USB has been the subject of a number of other research reports. Wells Fargo & Company boosted their target price on U.S. Bancorp from $48.00 to $52.00 and gave the stock an overweight rating in a research report on Thursday. Oppenheimer cut their target price on shares of U.S. Bancorp from $55.00 to $54.00 and set an outperform rating on the stock in a research report on Thursday, April 18th. JPMorgan Chase & Co. cut shares of U.S. Bancorp from an overweight rating to a neutral rating and set a $43.50 price target for the company. in a research report on Thursday, June 27th. Barclays cut their price objective on shares of U.S. Bancorp from $56.00 to $52.00 and set an overweight rating on the stock in a report on Thursday, April 18th. Finally, The Goldman Sachs Group upped their target price on shares of U.S. Bancorp from $42.00 to $47.00 and gave the company a neutral rating in a research report on Thursday. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $47.72.

U.S. Bancorp Stock Up 0.8 %

Shares of NYSE USB opened at $44.76 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. The company has a market cap of $69.85 billion, a price-to-earnings ratio of 14.82, a price-to-earnings-growth ratio of 4.30 and a beta of 1.04. U.S. Bancorp has a 12-month low of $30.47 and a 12-month high of $45.85. The firm’s 50-day simple moving average is $40.39 and its 200 day simple moving average is $41.46.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.94 by $0.04. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The business had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.81 billion. During the same period in the prior year, the firm earned $1.12 earnings per share. U.S. Bancorp’s revenue was down 4.3% compared to the same quarter last year. On average, research analysts expect that U.S. Bancorp will post 3.84 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend was Friday, June 28th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.

Insider Buying and Selling

In related news, Director Aleem Gillani purchased 10,000 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were purchased at an average price of $44.99 per share, with a total value of $449,900.00. Following the completion of the purchase, the director now owns 10,000 shares in the company, valued at approximately $449,900. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.23% of the stock is owned by company insiders.

Institutional Investors Weigh In On U.S. Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in U.S. Bancorp by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 135,371,282 shares of the financial services provider’s stock worth $6,051,096,000 after purchasing an additional 502,776 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in U.S. Bancorp by 8.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,719,110 shares of the financial services provider’s stock valued at $1,459,363,000 after buying an additional 2,598,163 shares during the last quarter. Norges Bank bought a new stake in U.S. Bancorp in the 4th quarter valued at approximately $827,370,000. Van ECK Associates Corp boosted its position in U.S. Bancorp by 3.0% during the 1st quarter. Van ECK Associates Corp now owns 9,207,376 shares of the financial services provider’s stock worth $411,570,000 after acquiring an additional 265,734 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its stake in shares of U.S. Bancorp by 0.3% during the 1st quarter. First Eagle Investment Management LLC now owns 8,921,691 shares of the financial services provider’s stock worth $398,800,000 after acquiring an additional 23,826 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.