U.S. Bancorp (NYSE:USB) Price Target Raised to $65.50

U.S. Bancorp (NYSE:USB) had its target price increased by JPMorgan Chase & Co. from $65.00 to $65.50 in a research note published on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the financial services provider’s stock.

Other equities analysts have also recently issued research reports about the company. Truist Financial cut their price target on U.S. Bancorp from $69.00 to $67.00 and set a “buy” rating for the company in a report on Thursday, October 1st. Raymond James Financial lowered their price target on shares of U.S. Bancorp from $74.00 to $72.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, October 6th. Evercore raised shares of U.S. Bancorp from an “in-line” rating to an “outperform” rating and set a $72.00 target price on the stock in a report on Monday, July 20th. Weiss Ratings restated a “buy (b)” rating on shares of U.S. Bancorp in a report on Thursday. Finally, Stephens upped their target price on U.S. Bancorp from $63.00 to $67.00 and gave the company an “equal weight” rating in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.21.

U.S. Bancorp Stock Up 0.0%

NYSE:USB opened at $59.47 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.87. The stock has a 50 day moving average of $59.88 and a 200-day moving average of $58.03. The firm has a market capitalization of $92.66 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 1.13 and a beta of 1.02. U.S. Bancorp has a 52 week low of $45.02 and a 52 week high of $66.07.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, October 15th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.02. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. The company had revenue of $8.04 billion during the quarter, compared to analyst estimates of $8 billion. During the same quarter in the previous year, the firm posted $1.22 EPS. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. Analysts predict that U.S. Bancorp will post 5.30 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Wednesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.52. U.S. Bancorp’s dividend payout ratio is currently 42.11%.

Insider Buying and Selling at U.S. Bancorp

In other news, CEO Gunjan Kedia sold 27,267 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the completion of the transaction, the chief executive officer directly owned 426,262 shares in the company, valued at $26,585,960.94. This trade represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dogwood Wealth Management LLC raised its holdings in shares of U.S. Bancorp by 32.9% in the second quarter. Dogwood Wealth Management LLC now owns 687 shares of the financial services provider’s stock worth $41,000 after buying an additional 170 shares during the period. Blalock Williams LLC raised its stake in U.S. Bancorp by 3.8% in the 2nd quarter. Blalock Williams LLC now owns 4,680 shares of the financial services provider’s stock worth $283,000 after acquiring an additional 171 shares during the last quarter. Virtue Capital Management LLC boosted its holdings in shares of U.S. Bancorp by 2.4% in the 3rd quarter. Virtue Capital Management LLC now owns 7,517 shares of the financial services provider’s stock valued at $434,000 after acquiring an additional 177 shares during the last quarter. FAS Wealth Partners Inc. lifted its stake in shares of U.S. Bancorp by 0.9% in the 1st 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 period. Finally, Cornerstone Planning Group LLC raised its stake in shares of U.S. Bancorp by 19.7% during the 1st quarter. Cornerstone Planning Group LLC now owns 1,175 shares of the financial services provider’s stock worth $65,000 after buying an additional 193 shares during the period. Institutional investors own 77.60% of the company’s stock.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. U.S. Bank provides banking, lending, payment, investment and wealth-management services to individuals, businesses, institutions and government entities.

The company’s consumer and business banking operations offer deposit accounts, mortgages, home-equity and consumer loans, credit cards, small-business banking and commercial lending.