Wedbush initiated coverage on shares of U.S. Bancorp (NYSE:USB) in a report released on Thursday morning. The brokerage issued a neutral rating and a $46.00 price objective on the financial services provider’s stock.
Other equities analysts also recently issued reports about the company. Credit Suisse Group AG restated a hold rating on shares of U.S. Bancorp in a report on Tuesday, July 12th. Jefferies Group restated a hold rating and set a $44.00 price target on shares of U.S. Bancorp in a report on Wednesday, August 10th. Wells Fargo & Co. restated a buy rating on shares of U.S. Bancorp in a report on Friday, September 16th. Oppenheimer Holdings Inc. restated a hold rating on shares of U.S. Bancorp in a report on Saturday, September 17th. Finally, Zacks Investment Research downgraded U.S. Bancorp from a hold rating to a sell rating in a report on Monday, July 11th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have given a buy rating to the stock. The company has an average rating of Hold and an average price target of $45.21.
Shares of U.S. Bancorp (NYSE:USB) opened at 43.80 on Thursday. U.S. Bancorp has a 12-month low of $37.07 and a 12-month high of $44.58. The stock has a market capitalization of $74.97 billion, a P/E ratio of 13.73 and a beta of 0.82. The firm’s 50-day moving average is $43.34 and its 200 day moving average is $42.07.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Friday, July 15th. The financial services provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.80 by $0.03. The business earned $5.45 billion during the quarter. U.S. Bancorp had a return on equity of 14.05% and a net margin of 26.56%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.80 EPS. On average, equities research analysts forecast that U.S. Bancorp will post $3.25 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be given a dividend of $0.28 per share. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Wednesday, September 28th. U.S. Bancorp’s payout ratio is presently 35.00%.
In other news, Vice Chairman Gillern Jeffry H. Von sold 102,961 shares of U.S. Bancorp stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $42.00, for a total transaction of $4,324,362.00. Following the transaction, the insider now directly owns 178,422 shares of the company’s stock, valued at approximately $7,493,724. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Craig E. Gifford sold 2,500 shares of U.S. Bancorp stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $41.87, for a total value of $104,675.00. Following the transaction, the executive vice president now directly owns 49,881 shares in the company, valued at $2,088,517.47. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Telemus Capital LLC acquired a new position in U.S. Bancorp during the first quarter worth approximately $262,000. Jag Capital Management LLC boosted its position in U.S. Bancorp by 0.4% in the first quarter. Jag Capital Management LLC now owns 9,842 shares of the financial services provider’s stock worth $399,000 after buying an additional 42 shares in the last quarter. River Wealth Advisors LLC boosted its position in U.S. Bancorp by 0.5% in the first quarter. River Wealth Advisors LLC now owns 51,199 shares of the financial services provider’s stock worth $2,078,000 after buying an additional 230 shares in the last quarter. Commonwealth Equity Services Inc boosted its position in U.S. Bancorp by 8.3% in the first quarter. Commonwealth Equity Services Inc now owns 253,114 shares of the financial services provider’s stock worth $10,274,000 after buying an additional 19,354 shares in the last quarter. Finally, Aperio Group LLC boosted its position in U.S. Bancorp by 2.5% in the first quarter. Aperio Group LLC now owns 850,301 shares of the financial services provider’s stock worth $34,514,000 after buying an additional 20,528 shares in the last quarter. 72.58% of the stock is currently owned by institutional investors.
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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