U.S. Bancorp (NYSE:USB) had its price target boosted by Wedbush from $46.00 to $49.00 in a report issued on Thursday, RTT News reports. They currently have a neutral rating on the financial services provider’s stock.
USB has been the topic of several other research reports. JPMorgan Chase & Co. began coverage on shares of Pinduoduo in a report on Tuesday, July 9th. They set an underweight rating and a $20.48 price objective on the stock. Morgan Stanley boosted their target price on shares of Yum! Brands from $97.00 to $106.00 and gave the stock an equal weight rating in a research report on Thursday. Bank of America boosted their target price on shares of Micron Technology from $45.00 to $60.00 and gave the stock an average rating in a research report on Thursday. Oppenheimer set a $15.00 price objective on shares of Strongbridge Biopharma and gave the stock a buy rating in a research report on Tuesday, March 26th. Finally, Zacks Investment Research raised shares of GreenTree Hospitality Group from a sell rating to a hold rating in a research report on Monday, April 15th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $56.63.
NYSE USB opened at $55.00 on Thursday. The business’s fifty day moving average is $52.69. The company has a market capitalization of $87.56 billion, a PE ratio of 13.41, a PEG ratio of 1.84 and a beta of 1.06. U.S. Bancorp has a fifty-two week low of $43.14 and a fifty-two week high of $55.56. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.86.
U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The firm had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.73 billion. U.S. Bancorp had a net margin of 26.70% and a return on equity of 15.45%. The company’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.02 earnings per share. As a group, analysts expect that U.S. Bancorp will post 4.29 EPS for the current year.
U.S. Bancorp announced that its Board of Directors has initiated a share buyback program on Thursday, June 27th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend was Thursday, June 27th. U.S. Bancorp’s payout ratio is 36.10%.
In other news, Vice Chairman Gillern Jeffry H. Von sold 4,669 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $53.14, for a total transaction of $248,110.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.24% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Brookmont Capital Management raised its position in shares of U.S. Bancorp by 0.5% during the 2nd quarter. Brookmont Capital Management now owns 36,674 shares of the financial services provider’s stock valued at $1,922,000 after buying an additional 195 shares in the last quarter. EagleClaw Capital Managment LLC grew its holdings in shares of U.S. Bancorp by 3.0% during the 1st quarter. EagleClaw Capital Managment LLC now owns 6,883 shares of the financial services provider’s stock valued at $332,000 after purchasing an additional 200 shares during the last quarter. Sky Investment Group LLC grew its holdings in shares of U.S. Bancorp by 1.8% during the 2nd quarter. Sky Investment Group LLC now owns 11,250 shares of the financial services provider’s stock valued at $590,000 after purchasing an additional 200 shares during the last quarter. Belpointe Asset Management LLC grew its holdings in shares of U.S. Bancorp by 4.3% during the 4th quarter. Belpointe Asset Management LLC now owns 4,955 shares of the financial services provider’s stock valued at $226,000 after purchasing an additional 206 shares during the last quarter. Finally, SeaCrest Wealth Management LLC grew its holdings in shares of U.S. Bancorp by 0.7% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 28,512 shares of the financial services provider’s stock valued at $1,494,000 after purchasing an additional 207 shares during the last quarter. Institutional investors and hedge funds own 74.63% of the company’s stock.
U.S. Bancorp Company Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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