U.S. Bancorp (NYSE:USB) Sets New 52-Week High – Should You Buy?

U.S. Bancorp (NYSE:USB)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $65.09 and last traded at $65.06, with a volume of 2310854 shares trading hands. The stock had previously closed at $64.29.

Analysts Set New Price Targets

Several brokerages have commented on USB. CLSA set a $67.50 price target on shares of U.S. Bancorp in a research report on Monday, July 20th. Keefe, Bruyette & Woods raised their price objective on shares of U.S. Bancorp from $63.00 to $66.00 and gave the company a “market perform” rating in a research report on Friday, July 17th. BTIG Research set a $67.50 target price on shares of U.S. Bancorp in a report on Monday, July 20th. Oppenheimer increased their target price on shares of U.S. Bancorp from $73.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. Finally, Evercore upgraded shares of U.S. Bancorp from an “in-line” rating to an “outperform” rating and set a $72.00 target price for the company in a report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $67.06.

U.S. Bancorp Price Performance

The stock has a 50-day moving average of $61.57 and a two-hundred day moving average of $57.32. The firm has a market cap of $101.52 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 1.07 and a beta of 0.96. 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 posted its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (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 for the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter in the previous year, the company earned $1.11 EPS. On average, analysts anticipate that U.S. Bancorp will post 5.22 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio is 41.52%.

Insider Buying and Selling

In related news, insider Stephen L. Philipson sold 36,906 shares of the firm’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $63.08, for a total value of $2,328,030.48. Following the completion of the transaction, the insider owned 74,969 shares of the company’s stock, valued at approximately $4,729,044.52. This trade represents a 32.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Institutional Trading of U.S. Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of USB. Brighton Jones LLC lifted its stake in U.S. Bancorp by 323.0% in the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock worth $2,309,000 after acquiring an additional 36,863 shares in the last quarter. Empowered Funds LLC grew its stake in U.S. Bancorp by 2.1% during the 1st quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock valued at $1,453,000 after acquiring an additional 714 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of U.S. Bancorp by 18.9% in the 1st quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider’s stock valued at $1,658,000 after purchasing an additional 6,252 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of U.S. Bancorp in the second quarter worth approximately $425,000. Finally, Nebula Research & Development LLC purchased a new stake in shares of U.S. Bancorp in the second quarter worth approximately $701,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.