U.S. Bancorp (NYSE:USB) Stock Has Consensus Price Target of $67.06 According to Brokerages

U.S. Bancorp (NYSE:USB) has received a consensus rating of “Moderate Buy” from the twenty-five brokerages that are presently covering the company, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $67.65.

A number of equities research analysts have recently issued reports on USB shares. Wall Street Zen raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, July 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of U.S. Bancorp in a research report on Friday, July 31st. JPMorgan Chase & Co. boosted their price target on U.S. Bancorp from $67.50 to $69.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Barclays upped their price target on U.S. Bancorp from $67.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Finally, Keefe, Bruyette & Woods raised their price objective on U.S. Bancorp from $63.00 to $66.00 and gave the stock a “market perform” rating in a research note on Friday, July 17th.

U.S. Bancorp Stock Performance

USB opened at $57.82 on Friday. The company’s 50 day moving average is $62.37 and its 200 day moving average is $58.57. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96. The company has a market cap of $90.08 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 1.06 and a beta of 0.95. U.S. Bancorp has a 12-month low of $45.02 and a 12-month high of $66.07.

U.S. Bancorp (NYSE:USB) last announced its 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 net margin of 18.49% and a return on equity of 13.69%. The business had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.58 billion. During the same period in the prior year, the company earned $1.11 earnings per share. On average, equities research analysts predict that U.S. Bancorp will post 5.25 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a $0.54 dividend. The ex-dividend date is Wednesday, September 30th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.52. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.7%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 41.52%.

Insiders Place Their Bets

In related news, CEO Gunjan Kedia sold 27,267 shares of U.S. Bancorp stock in a transaction on Friday, August 28th. The shares were sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the transaction, the chief executive officer owned 426,262 shares in the company, valued at approximately $26,585,960.94. The trade was a 6.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen L. Philipson sold 36,906 shares of the company’s stock in a transaction on Monday, July 20th. The stock was sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the completion of the transaction, the insider directly owned 74,969 shares of the company’s stock, valued at $4,729,044.52. This represents a 32.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On U.S. Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp grew its position in shares of U.S. Bancorp by 0.8% during the fourth quarter. State Street Corp now owns 69,701,898 shares of the financial services provider’s stock worth $3,755,083,000 after purchasing an additional 522,368 shares in the last quarter. Mufg Bank LTD. purchased a new position in U.S. Bancorp in the 2nd quarter worth approximately $2,680,199,000. Geode Capital Management LLC boosted its stake 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 period. Norges Bank bought a new position in U.S. Bancorp in the 4th quarter worth approximately $1,887,497,000. Finally, Auto Owners Insurance Co grew its holdings in U.S. Bancorp by 5,236.0% during the 4th quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock valued at $1,779,556,000 after buying an additional 32,725,000 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

About U.S. Bancorp

U.S. Bancorp is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. The company provides banking, lending, payment, investment, and wealth management services to individuals, businesses, government entities, and institutional clients.

Through U.S. Bank, its principal subsidiary, U.S. Bancorp offers checking and savings accounts, credit cards, mortgages, consumer and business loans, commercial banking, treasury management, investment services, and financial planning.