Morgan Stanley Raises U.S. Bancorp (USB) Price Target to $55.00
U.S. Bancorp (NYSE:USB) had its target price lifted by Morgan Stanley from $51.00 to $55.00 in a research report sent to investors on Thursday morning. Morgan Stanley currently has an underweight rating on the financial services provider’s stock.
A number of other equities analysts have also commented on USB. BidaskClub raised shares of U.S. Bancorp from a hold rating to a buy rating in a report on Thursday, July 6th. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of U.S. Bancorp in a report on Wednesday, July 19th. Argus raised shares of U.S. Bancorp from a hold rating to a buy rating and set a $57.00 target price on the stock in a report on Thursday, July 20th. Wells Fargo & Company initiated coverage on shares of U.S. Bancorp in a report on Wednesday, August 9th. They set a market perform rating and a $56.00 target price on the stock. Finally, Jefferies Group LLC reaffirmed a buy rating and set a $59.00 target price on shares of U.S. Bancorp in a report on Friday, August 11th. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. U.S. Bancorp has an average rating of Hold and an average target price of $53.94.
Shares of U.S. Bancorp (NYSE USB) opened at 54.09 on Thursday. The firm has a 50-day moving average of $52.96 and a 200-day moving average of $52.12. U.S. Bancorp has a 12 month low of $43.70 and a 12 month high of $56.61. The firm has a market cap of $90.48 billion, a price-to-earnings ratio of 16.34 and a beta of 0.87.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.88 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.88. The firm had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.60 billion. U.S. Bancorp had a net margin of 25.46% and a return on equity of 13.91%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.84 EPS. On average, analysts anticipate that U.S. Bancorp will post $3.43 EPS for the current year.
U.S. Bancorp announced that its board has approved a stock buyback program on Wednesday, June 28th that authorizes the company to repurchase $2.60 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.20 annualized dividend and a yield of 2.22%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.28. U.S. Bancorp’s dividend payout ratio is presently 35.61%.
Several large investors have recently bought and sold shares of the company. Boyd Watterson Asset Management LLC OH lifted its position in shares of U.S. Bancorp by 19.1% in the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 15,164 shares of the financial services provider’s stock worth $813,000 after purchasing an additional 2,435 shares during the period. Douglas Lane & Associates LLC lifted its position in shares of U.S. Bancorp by 1.8% in the 3rd quarter. Douglas Lane & Associates LLC now owns 1,292,009 shares of the financial services provider’s stock worth $69,239,000 after purchasing an additional 22,325 shares during the period. Farmers & Merchants Investments Inc. lifted its position in shares of U.S. Bancorp by 32.7% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 420,868 shares of the financial services provider’s stock worth $22,554,000 after purchasing an additional 103,768 shares during the period. Oakbrook Investments LLC lifted its position in shares of U.S. Bancorp by 31.4% in the 3rd quarter. Oakbrook Investments LLC now owns 90,507 shares of the financial services provider’s stock worth $4,850,000 after purchasing an additional 21,630 shares during the period. Finally, Osborne Partners Capital Management LLC purchased a new stake in shares of U.S. Bancorp in the 3rd quarter worth about $216,000. 73.95% of the stock is owned by hedge funds and other institutional investors.
U.S. Bancorp Company Profile
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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