U.S. Bancorp (NYSE:USB) Price Target Raised to $76.00

U.S. Bancorp (NYSE:USB) had its price target increased by HSBC from $74.00 to $76.00 in a research report released on Monday, Marketbeat.com reports. They currently have a buy rating on the financial services provider’s stock.

A number of other research firms have also recently weighed in on USB. Stephens raised their price target on shares of U.S. Bancorp from $63.00 to $67.00 and gave the company an “equal weight” rating in a report on Friday, July 17th. BTIG Research set a $67.50 target price on shares of U.S. Bancorp in a research report on Monday, July 20th. CLSA set a $67.50 target price on shares of U.S. Bancorp in a research note on Monday, July 20th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $68.00 price target on shares of U.S. Bancorp in a research report on Monday, August 24th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of U.S. Bancorp in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $67.65.

U.S. Bancorp Stock Down 0.6%

Shares of NYSE USB opened at $57.82 on Monday. U.S. Bancorp has a 12-month low of $45.02 and a 12-month high of $66.07. The stock’s fifty day simple moving average is $62.37 and its two-hundred day simple moving average is $58.57. The stock has a market capitalization of $90.08 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.The firm had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same period in the previous year, the company posted $1.11 EPS. As a group, analysts expect that U.S. Bancorp will post 5.25 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

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

Insider Buying and Selling

In related news, CEO Gunjan Kedia sold 27,267 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $62.37, for a total value of $1,700,642.79. Following the sale, the chief executive officer owned 426,262 shares in the company, valued at $26,585,960.94. This represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen L. Philipson sold 36,906 shares of the firm’s stock in a transaction that occurred 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 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by corporate insiders.

Institutional Trading of U.S. Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Inceptionr LLC increased its stake in U.S. Bancorp by 424.4% during the fourth quarter. Inceptionr LLC now owns 27,614 shares of the financial services provider’s stock worth $1,473,000 after purchasing an additional 22,348 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of U.S. Bancorp by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock valued at $539,232,000 after purchasing an additional 93,025 shares in the last quarter. Mufg Bank LTD. purchased a new stake in U.S. Bancorp during the 2nd quarter worth approximately $2,680,199,000. SG Americas Securities LLC increased its stake in U.S. Bancorp by 51.4% during the 1st quarter. SG Americas Securities LLC now owns 6,559,944 shares of the financial services provider’s stock worth $341,183,000 after buying an additional 2,227,285 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its holdings in U.S. Bancorp by 57.1% during the 1st quarter. Illinois Municipal Retirement Fund now owns 92,257 shares of the financial services provider’s stock worth $4,798,000 after buying an additional 33,517 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Company Profile

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.