U.S. Bancorp (NYSE:USB) Receives $61.29 Average PT from Analysts

Shares of U.S. Bancorp (NYSE:USB) have been given an average recommendation of “Moderate Buy” by the twenty-four ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $61.2857.

A number of research firms recently commented on USB. JPMorgan Chase & Co. dropped their price objective on U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating on the stock in a report on Thursday, April 30th. Wall Street Zen upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Saturday. DA Davidson restated a “buy” rating and issued a $65.00 price objective on shares of U.S. Bancorp in a report on Friday, April 17th. Morgan Stanley set a $64.00 price objective on U.S. Bancorp in a report on Friday, April 17th. Finally, Stephens began coverage on U.S. Bancorp in a report on Monday, June 15th. They issued an “equal weight” rating and a $63.00 price objective on the stock.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the transaction, the insider owned 207,251 shares in the company, valued at $11,813,307. This trade represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On U.S. Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FAS Wealth Partners Inc. grew its holdings in U.S. Bancorp by 0.9% during the first quarter. FAS Wealth Partners Inc. now owns 19,964 shares of the financial services provider’s stock valued at $1,038,000 after purchasing an additional 186 shares during the last quarter. Parallel Advisors LLC grew its holdings in U.S. Bancorp by 5.4% during the first quarter. Parallel Advisors LLC now owns 20,499 shares of the financial services provider’s stock valued at $1,066,000 after purchasing an additional 1,046 shares during the last quarter. First Nebraska Trust Co acquired a new position in U.S. Bancorp during the first quarter valued at approximately $6,425,000. Asset Dedication LLC grew its holdings in U.S. Bancorp by 141.0% during the first quarter. Asset Dedication LLC now owns 17,306 shares of the financial services provider’s stock valued at $900,000 after purchasing an additional 10,126 shares during the last quarter. Finally, Alpine Woods Capital Investors LLC grew its holdings in U.S. Bancorp by 25.2% during the first quarter. Alpine Woods Capital Investors LLC now owns 44,928 shares of the financial services provider’s stock valued at $2,337,000 after purchasing an additional 9,057 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Trading Up 0.8%

NYSE:USB opened at $58.62 on Thursday. The stock’s 50 day moving average price is $55.73 and its 200 day moving average price is $54.96. U.S. Bancorp has a 52 week low of $42.93 and a 52 week high of $61.19. The company has a market capitalization of $90.93 billion, a P/E ratio of 12.29, a P/E/G ratio of 1.01 and a beta of 0.97. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The firm had revenue of $7.32 billion for the quarter, compared to the consensus estimate of $7.27 billion. During the same quarter in the prior year, the company posted $1.03 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. On average, research analysts forecast that U.S. Bancorp will post 5.08 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.5%. The ex-dividend date is Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio (DPR) is 43.61%.

About U.S. Bancorp

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.