U.S. Bancorp (NYSE:USB) Upgraded at Truist Financial

Truist Financial upgraded shares of U.S. Bancorp (NYSE:USB) from a hold rating to a buy rating in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. They currently have $66.00 price objective on the financial services provider’s stock, up from their prior price objective of $61.00.

Other research analysts also recently issued reports about the stock. TD Cowen lifted their target price on shares of U.S. Bancorp from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. DA Davidson raised their price objective on shares of U.S. Bancorp from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Wednesday, January 21st. Evercore increased their target price on U.S. Bancorp from $60.00 to $65.00 and gave the company an “in-line” rating in a report on Thursday, February 5th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $60.00 target price on shares of U.S. Bancorp in a research report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp has an average rating of “Moderate Buy” and a consensus target price of $60.02.

U.S. Bancorp Trading Down 4.7%

Shares of NYSE USB opened at $54.57 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $61.19. The company has a market cap of $84.78 billion, a price-to-earnings ratio of 11.81, a P/E/G ratio of 0.98 and a beta of 1.06. The business has a fifty day simple moving average of $56.17 and a 200-day simple moving average of $51.19.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. The firm had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.31 billion. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.U.S. Bancorp’s revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the business posted $1.07 EPS. Sell-side analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a $0.52 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $2.08 dividend on an annualized basis and a yield of 3.8%. U.S. Bancorp’s payout ratio is 45.02%.

Insiders Place Their Bets

In other news, insider Mark G. Runkel sold 32,195 shares of the firm’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the completion of the sale, the insider directly owned 97,728 shares of the company’s stock, valued at $5,927,203.20. This trade represents a 24.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On U.S. Bancorp

Hedge funds have recently added to or reduced their stakes in the company. Guerra Advisors Inc bought a new position in shares of U.S. Bancorp during the 3rd quarter valued at $25,000. Financial Life Planners acquired a new position in U.S. Bancorp during the third quarter worth $25,000. Clayton Financial Group LLC bought a new position in U.S. Bancorp during the fourth quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in U.S. Bancorp during the third quarter valued at about $26,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of U.S. Bancorp in the second quarter worth about $27,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Company Profile

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.