Robert W. Baird reiterated their hold rating on shares of U.S. Bancorp (NYSE:USB) in a research note published on Friday, October 6th. They currently have a $48.00 price objective on the financial services provider’s stock.
Other analysts also recently issued reports about the company. Jefferies Group LLC restated a buy rating and issued a $59.00 price objective on shares of U.S. Bancorp in a report on Friday, August 11th. BidaskClub upgraded U.S. Bancorp from a hold rating to a buy rating in a research note on Thursday, July 6th. Argus upgraded U.S. Bancorp from a hold rating to a buy rating and set a $57.00 price target on the stock in a research note on Thursday, July 20th. Oppenheimer Holdings, Inc. restated a hold rating on shares of U.S. Bancorp in a research note on Wednesday, July 19th. Finally, Wells Fargo & Company initiated coverage on U.S. Bancorp in a research report on Wednesday, August 9th. They issued a market perform rating and a $56.00 target price on the stock. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $53.56.
U.S. Bancorp (USB) opened at 53.88 on Friday. The firm has a market cap of $90.13 billion, a price-to-earnings ratio of 16.28 and a beta of 0.87. The company has a 50-day moving average of $52.67 and a 200-day moving average of $52.05. U.S. Bancorp has a 52 week low of $42.52 and a 52 week high of $56.61.
U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.01. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. The business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same period last year, the company earned $0.82 earnings per share. The business’s revenue for the quarter was up .7% compared to the same quarter last year. Equities research analysts forecast that U.S. Bancorp will post $3.42 earnings per share for the current fiscal year.
U.S. Bancorp declared that its board has initiated a stock buyback program on Wednesday, June 28th that permits the company to buyback $2.60 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, September 28th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.23%. U.S. Bancorp’s dividend payout ratio is currently 36.04%.
A number of hedge funds have recently bought and sold shares of the business. Hudock Capital Group LLC raised its position in U.S. Bancorp by 0.4% in the 2nd quarter. Hudock Capital Group LLC now owns 3,804 shares of the financial services provider’s stock valued at $197,000 after purchasing an additional 17 shares in the last quarter. BSW Wealth Partners raised its position in shares of U.S. Bancorp by 0.6% during the 2nd quarter. BSW Wealth Partners now owns 3,995 shares of the financial services provider’s stock worth $207,000 after acquiring an additional 22 shares in the last quarter. First National Bank of Hutchinson raised its position in shares of U.S. Bancorp by 0.3% during the 2nd quarter. First National Bank of Hutchinson now owns 10,838 shares of the financial services provider’s stock worth $576,000 after acquiring an additional 32 shares in the last quarter. D. Scott Neal Inc. raised its position in shares of U.S. Bancorp by 0.5% during the 2nd quarter. D. Scott Neal Inc. now owns 7,524 shares of the financial services provider’s stock worth $391,000 after acquiring an additional 36 shares in the last quarter. Finally, Budros Ruhlin & Roe Inc. raised its position in shares of U.S. Bancorp by 0.5% during the 2nd quarter. Budros Ruhlin & Roe Inc. now owns 7,492 shares of the financial services provider’s stock worth $389,000 after acquiring an additional 39 shares in the last quarter. 73.95% of the stock is currently owned by institutional investors.
About U.S. Bancorp
U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.
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