U.S. Bancorp (NYSE:USB) Sets New 12-Month High – Here’s Why

U.S. Bancorp (NYSE:USB)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $64.84 and last traded at $64.6580, with a volume of 4312056 shares traded. The stock had previously closed at $63.94.

Wall Street Analysts Forecast Growth

USB has been the subject of several research reports. Robert W. Baird lifted their price target on shares of U.S. Bancorp from $64.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, July 17th. Keefe, Bruyette & Woods upped their price objective on shares of U.S. Bancorp from $63.00 to $66.00 and gave the stock a “market perform” rating in a report on Friday, July 17th. Wall Street Zen raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, July 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of U.S. Bancorp in a report on Friday. Finally, Wells Fargo & Company boosted their target price on shares of U.S. Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $67.06.

U.S. Bancorp Price Performance

The company has a fifty day moving average of $60.00 and a 200-day moving average of $56.78. The firm has a market cap of $99.52 billion, a P/E ratio of 12.81, a P/E/G ratio of 1.03 and a beta of 0.96. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.82.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.07. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.The business had revenue of $7.71 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same period in the prior year, the firm posted $1.11 EPS. On average, sell-side analysts anticipate that U.S. Bancorp will post 5.22 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

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

Insiders Place Their Bets

In other U.S. Bancorp news, insider Stephen L. Philipson sold 36,906 shares of the company’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $63.08, for a total value of $2,328,030.48. Following the completion of the sale, the insider directly owned 74,969 shares of the company’s stock, valued at approximately $4,729,044.52. This represents a 32.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On U.S. Bancorp

Several institutional investors have recently modified their holdings of USB. Inceptionr LLC raised its holdings in shares of U.S. Bancorp by 424.4% during the 4th quarter. Inceptionr LLC now owns 27,614 shares of the financial services provider’s stock valued at $1,473,000 after buying an additional 22,348 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in U.S. Bancorp by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock worth $539,232,000 after buying an additional 93,025 shares in the last quarter. Savvy Advisors Inc. boosted its stake in U.S. Bancorp by 244.4% in the fourth quarter. Savvy Advisors Inc. now owns 30,872 shares of the financial services provider’s stock worth $1,647,000 after buying an additional 21,907 shares in the last quarter. Cardinal Capital Management Inc. grew its position in U.S. Bancorp by 17.3% during the fourth quarter. Cardinal Capital Management Inc. now owns 285,196 shares of the financial services provider’s stock valued at $15,218,000 after acquiring an additional 42,095 shares during the last quarter. Finally, Keudell Morrison Wealth Management bought a new position in U.S. Bancorp during the fourth quarter valued at approximately $2,856,000. 77.60% of the stock is owned by institutional investors.

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.