U.S. Bancorp (NYSE:USB) Price Target Raised to $69.00

U.S. Bancorp (NYSE:USB) had its price objective boosted by Truist Financial from $66.00 to $69.00 in a report released on Friday, Marketbeat.com reports. They currently have a buy rating on the financial services provider’s stock.

A number of other equities analysts have also issued reports on the stock. Oppenheimer dropped their target price on shares of U.S. Bancorp from $74.00 to $73.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 30th. Stephens began coverage on shares of U.S. Bancorp in a report on Monday, June 15th. They issued an “equal weight” rating and a $63.00 price target for the company. Royal Bank Of Canada raised their price target on shares of U.S. Bancorp from $59.00 to $61.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. Weiss Ratings upgraded shares of U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. upped their price objective on shares of U.S. Bancorp from $57.50 to $65.00 and gave the company an “underweight” rating in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.52.

U.S. Bancorp Stock Performance

USB opened at $63.14 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96. The stock’s 50 day moving average price is $57.89 and its two-hundred day moving average price is $56.09. The firm has a market capitalization of $97.93 billion, a P/E ratio of 12.60, a price-to-earnings-growth ratio of 1.07 and a beta of 0.96. U.S. Bancorp has a 12-month low of $43.46 and a 12-month high of $64.84.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $7.71 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same period in the previous year, the company earned $1.11 earnings per share. On average, equities analysts forecast that U.S. Bancorp will post 5.18 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio is presently 41.52%.

Insider Buying and Selling at U.S. Bancorp

In related news, insider Jodi L. Richard sold 40,000 shares of the firm’s stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the transaction, the insider directly owned 207,251 shares of the company’s stock, valued at $11,813,307. This trade represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the sale, the executive vice president owned 51,292 shares in the company, valued at $2,847,731.84. This represents a 40.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by company insiders.

Institutional Trading of U.S. Bancorp

Several institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in U.S. Bancorp during the fourth quarter valued at approximately $1,887,497,000. Auto Owners Insurance Co raised its holdings in shares of U.S. Bancorp by 5,236.0% in the 4th quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock worth $1,779,556,000 after buying an additional 32,725,000 shares in the last quarter. Capital Research Global Investors acquired a new position in shares of U.S. Bancorp in the 4th quarter worth approximately $296,377,000. SG Americas Securities LLC lifted its position in shares of U.S. Bancorp by 3,451.9% during the 4th quarter. SG Americas Securities LLC now owns 4,332,659 shares of the financial services provider’s stock worth $231,191,000 after buying an additional 4,210,676 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in U.S. Bancorp by 20.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,919,079 shares of the financial services provider’s stock valued at $1,329,683,000 after buying an additional 4,153,080 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting U.S. Bancorp

Here are the key news stories impacting U.S. Bancorp this week:

• Positive Sentiment: U.S. Bancorp posted Q2 earnings of $1.35 per share on revenue of $7.71 billion, both above estimates, with record quarterly revenue driven by loan growth, fee income, and a boost from its BTIG acquisition. U.S. Bancorp Q2 Earnings Beat Estimates on NII & Fee Revenue Growth
• Positive Sentiment: Management raised full-year revenue guidance to a 7% to 9% growth range, signaling confidence that momentum from higher net interest income and fee revenue will continue. Is USB’s Stronger Outlook And BTIG Fee Push Altering The Investment Case For U.S. Bancorp (USB)?
• Positive Sentiment: Several firms lifted price targets after the earnings release, including Oppenheimer, Wells Fargo, Truist, RBC, and Baird, reflecting improved sentiment around USB’s outlook. US Bancorp analysts boost their forecasts after upbeat Q2 results

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.