U.S. Bancorp (NYSE:USB) Receives $44.93 Average Target Price from Brokerages
Shares of U.S. Bancorp (NYSE:USB) have earned an average recommendation of “Hold” from the twenty-seven brokerages that are currently covering the company. Two equities research analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $44.93.
USB has been the subject of several analyst reports. Credit Agricole SA boosted their target price on U.S. Bancorp from $43.00 to $45.00 and gave the stock an “underperform” rating in a research note on Friday, September 23rd. Piper Jaffray Cos. reissued an “overweight” rating and set a $46.00 target price (down from $47.00) on shares of U.S. Bancorp in a research note on Monday, September 19th. Zacks Investment Research cut U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, September 19th. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of U.S. Bancorp in a research note on Saturday, September 17th. Finally, Wells Fargo & Co. reissued a “buy” rating on shares of U.S. Bancorp in a research note on Friday, September 16th.
U.S. Bancorp (NYSE:USB) opened at 42.48 on Tuesday. The stock has a 50 day moving average price of $43.28 and a 200 day moving average price of $41.93. The stock has a market capitalization of $72.71 billion, a PE ratio of 13.32 and a beta of 0.72. U.S. Bancorp has a 52 week low of $37.07 and a 52 week high of $44.58.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Friday, July 15th. The financial services provider reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.03. U.S. Bancorp had a return on equity of 14.05% and a net margin of 26.56%. The business earned $5.45 billion during the quarter. During the same period in the previous year, the firm posted $0.80 earnings per share. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities analysts forecast that U.S. Bancorp will post $3.25 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be issued a $0.28 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.64%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.26. U.S. Bancorp’s dividend payout ratio is currently 31.88%.
In related news, Vice Chairman Gillern Jeffry H. Von sold 102,961 shares of the company’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $42.00, for a total value of $4,324,362.00. Following the sale, the insider now owns 178,422 shares in the company, valued at approximately $7,493,724. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Craig E. Gifford sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $41.87, for a total value of $104,675.00. Following the completion of the sale, the executive vice president now owns 49,881 shares in the company, valued at approximately $2,088,517.47. The disclosure for this sale can be found here. 0.68% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in U.S. Bancorp by 1.3% in the second quarter. Vanguard Group Inc. now owns 96,577,846 shares of the financial services provider’s stock worth $3,894,984,000 after buying an additional 1,236,893 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in U.S. Bancorp by 19.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 34,933,283 shares of the financial services provider’s stock worth $1,408,860,000 after buying an additional 5,736,183 shares in the last quarter. Franklin Resources Inc. boosted its stake in U.S. Bancorp by 8.0% in the first quarter. Franklin Resources Inc. now owns 17,805,686 shares of the financial services provider’s stock worth $722,733,000 after buying an additional 1,324,977 shares in the last quarter. BlackRock Group LTD boosted its stake in U.S. Bancorp by 3.1% in the first quarter. BlackRock Group LTD now owns 15,988,334 shares of the financial services provider’s stock worth $648,967,000 after buying an additional 478,684 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in U.S. Bancorp by 2.6% in the first quarter. Wellington Management Group LLP now owns 15,059,741 shares of the financial services provider’s stock worth $611,275,000 after buying an additional 384,013 shares in the last quarter. Institutional investors and hedge funds own 72.58% of the company’s stock.
About U.S. Bancorp
U.S. Bancorp is a multi-state financial services holding company. The Company’s banking subsidiary, U.S. Bank National Association, is engaged in the general banking business in domestic markets. It provides a range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services.
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