U.S. Bancorp (NYSE:USB) Reaches New 1-Year High Following Analyst Upgrade

U.S. Bancorp (NYSE:USB)’s share price hit a new 52-week high during mid-day trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $55.50 to $62.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. U.S. Bancorp traded as high as $60.99 and last traded at $60.7670, with a volume of 714388 shares. The stock had previously closed at $60.35.

Several other research firms have also recently weighed in on USB. Oppenheimer increased their target price on shares of U.S. Bancorp from $75.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. TD Cowen raised their price objective on U.S. Bancorp from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Morgan Stanley restated a “positive” rating on shares of U.S. Bancorp in a research note on Friday, October 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Wednesday, January 21st. Finally, Royal Bank Of Canada lifted their target price on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $59.79.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Mark G. Runkel sold 32,195 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the sale, the insider directly owned 97,728 shares of the company’s stock, valued at approximately $5,927,203.20. This represents a 24.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On U.S. Bancorp

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in U.S. Bancorp by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider’s stock valued at $7,810,665,000 after acquiring an additional 1,828,404 shares in the last quarter. State Street Corp increased its holdings in shares of U.S. Bancorp by 0.9% in the third quarter. State Street Corp now owns 69,179,530 shares of the financial services provider’s stock valued at $3,378,808,000 after purchasing an additional 648,943 shares in the last quarter. Geode Capital Management LLC raised its position in U.S. Bancorp by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 37,679,617 shares of the financial services provider’s stock worth $2,002,518,000 after purchasing an additional 443,646 shares during the last quarter. Norges Bank acquired a new position in U.S. Bancorp during the 4th quarter worth $1,887,497,000. Finally, Davis Selected Advisers boosted its position in U.S. Bancorp by 13.4% in the 4th quarter. Davis Selected Advisers now owns 22,041,759 shares of the financial services provider’s stock valued at $1,176,148,000 after buying an additional 2,610,197 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

The company has a market capitalization of $94.48 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 1.09 and a beta of 1.06. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a 50 day moving average price of $54.79 and a 200 day moving average price of $50.01.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.07. The business had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.31 billion. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.07 earnings per share. As a group, equities research analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Wednesday, December 31st. U.S. Bancorp’s payout ratio is 45.02%.

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.