U.S. Bancorp (NYSE:USB) Price Target Raised to $49.00

U.S. Bancorp (NYSE:USB) had its price target boosted by DA Davidson from $44.00 to $49.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock. DA Davidson also issued estimates for U.S. Bancorp’s Q3 2024 earnings at $1.01 EPS.

A number of other equities research analysts have also weighed in on the stock. Jefferies Financial Group lowered their target price on shares of U.S. Bancorp from $43.00 to $42.00 and set a hold rating on the stock in a report on Wednesday, July 3rd. Oppenheimer lowered their price objective on U.S. Bancorp from $55.00 to $54.00 and set an outperform rating for the company in a research note on Thursday, April 18th. Royal Bank of Canada reaffirmed an outperform rating and set a $47.00 target price on shares of U.S. Bancorp in a research report on Thursday, May 16th. StockNews.com upgraded U.S. Bancorp from a sell rating to a hold rating in a report on Wednesday, July 17th. Finally, UBS Group dropped their price objective on U.S. Bancorp from $47.00 to $43.00 and set a neutral rating on the stock in a research note on Friday, April 19th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $47.72.

U.S. Bancorp Trading Up 0.8 %

NYSE USB opened at $44.76 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $45.85. The business has a 50 day moving average price of $40.39 and a 200-day moving average price of $41.45. The company has a market cap of $69.85 billion, a price-to-earnings ratio of 14.82, a P/E/G ratio of 4.34 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The business had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.81 billion. During the same quarter in the previous year, the business posted $1.12 EPS. U.S. Bancorp’s quarterly revenue was down 4.3% on a year-over-year basis. As a group, equities analysts expect that U.S. Bancorp will post 3.89 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $0.49 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.96 annualized dividend and a yield of 4.38%. U.S. Bancorp’s payout ratio is 64.90%.

Insider Buying and Selling at U.S. Bancorp

In other news, Director Aleem Gillani purchased 10,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were purchased at an average price of $44.99 per share, with a total value of $449,900.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $449,900. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 0.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On U.S. Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of U.S. Bancorp by 0.4% in the first quarter. Vanguard Group Inc. now owns 135,371,282 shares of the financial services provider’s stock worth $6,051,096,000 after purchasing an additional 502,776 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in U.S. Bancorp by 8.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,719,110 shares of the financial services provider’s stock worth $1,459,363,000 after buying an additional 2,598,163 shares during the period. Norges Bank purchased a new position in U.S. Bancorp in the 4th quarter valued at approximately $827,370,000. Van ECK Associates Corp raised its holdings in U.S. Bancorp by 3.0% during the 1st quarter. Van ECK Associates Corp now owns 9,207,376 shares of the financial services provider’s stock valued at $411,570,000 after acquiring an additional 265,734 shares during the period. Finally, First Eagle Investment Management LLC lifted its position in shares of U.S. Bancorp by 0.3% during the first quarter. First Eagle Investment Management LLC now owns 8,921,691 shares of the financial services provider’s stock worth $398,800,000 after acquiring an additional 23,826 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.