U.S. Bancorp (NYSE:USB) Upgraded at Piper Sandler

Piper Sandler upgraded shares of U.S. Bancorp (NYSE:USB) from a neutral rating to an overweight rating in a report released on Monday morning, MarketBeat.com reports. They currently have $58.00 price objective on the financial services provider’s stock.

Several other research firms have also recently weighed in on USB. Barclays raised their price target on U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Evercore ISI boosted their price target on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Oppenheimer decreased their price target on shares of U.S. Bancorp from $66.00 to $62.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Citigroup raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $49.00 to $65.00 in a research note on Monday, November 25th. Finally, Royal Bank of Canada set a $53.00 target price on shares of U.S. Bancorp in a report on Thursday, October 17th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $54.07.

U.S. Bancorp Trading Up 3.8 %

U.S. Bancorp stock opened at $50.92 on Monday. U.S. Bancorp has a 1 year low of $37.81 and a 1 year high of $53.98. The firm’s 50 day moving average price is $50.25 and its 200-day moving average price is $46.68. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market cap of $79.44 billion, a P/E ratio of 15.57, a PEG ratio of 3.01 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.99 by $0.04. The business had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.05 EPS. On average, equities analysts predict that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.50 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.93%. U.S. Bancorp’s payout ratio is 61.16%.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the completion of the transaction, the insider now owns 129,790 shares in the company, valued at $6,363,603.70. This trade represents a 16.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.23% of the stock is owned by company insiders.

Institutional Trading of U.S. Bancorp

Large investors have recently modified their holdings of the business. Natixis Advisors LLC raised its holdings in U.S. Bancorp by 16.6% in the 3rd quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock valued at $18,348,000 after acquiring an additional 56,990 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at about $1,018,000. M&T Bank Corp grew its position in U.S. Bancorp by 2.8% in the third quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock valued at $38,704,000 after acquiring an additional 22,803 shares in the last quarter. Hilltop Holdings Inc. grew its holdings in U.S. Bancorp by 184.3% during the 3rd quarter. Hilltop Holdings Inc. now owns 70,283 shares of the financial services provider’s stock valued at $3,214,000 after purchasing an additional 45,560 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in shares of U.S. Bancorp by 544.1% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 13,894 shares of the financial services provider’s stock worth $635,000 after acquiring an additional 11,737 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

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.