U.S. Bancorp (NYSE:USB) Price Target Raised to $65.00

U.S. Bancorp (NYSE:USB) had its price objective upped by TD Cowen from $60.00 to $65.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Several other research firms also recently weighed in on USB. The Goldman Sachs Group set a $52.00 price target on U.S. Bancorp and gave the stock a “neutral” rating in a research report on Friday, October 17th. Morgan Stanley reissued a “positive” rating on shares of U.S. Bancorp in a research note on Friday, October 17th. Truist Financial raised their price target on shares of U.S. Bancorp from $52.00 to $58.00 and gave the stock a “hold” rating in a research note on Thursday, December 18th. Deutsche Bank Aktiengesellschaft raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price target on the stock in a research note on Thursday, October 23rd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.30.

U.S. Bancorp Stock Performance

NYSE:USB opened at $55.23 on Wednesday. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $56.19. The company has a market capitalization of $85.84 billion, a P/E ratio of 12.64, a price-to-earnings-growth ratio of 0.96 and a beta of 1.07. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10. The firm has a 50-day moving average price of $51.07 and a two-hundred day moving average price of $48.51.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.11 by $0.11. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The business had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same period in the prior year, the business earned $1.03 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.8%. The ex-dividend date is Wednesday, December 31st. U.S. Bancorp’s payout ratio is currently 47.60%.

Insider Buying and Selling at U.S. Bancorp

In other news, Chairman Andrew Cecere sold 140,445 shares of the firm’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $46.34, for a total value of $6,508,221.30. Following the transaction, the chairman owned 1,360,414 shares of the company’s stock, valued at approximately $63,041,584.76. This trade represents a 9.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP James L. Chosy sold 26,909 shares of the stock in a transaction on Monday, October 20th. The shares were sold at an average price of $46.86, for a total value of $1,260,955.74. Following the completion of the sale, the executive vice president owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. This represents a 10.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On U.S. Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Brighton Jones LLC boosted its stake in shares of U.S. Bancorp by 323.0% in the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock valued at $2,309,000 after purchasing an additional 36,863 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in U.S. Bancorp by 2.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 177,902 shares of the financial services provider’s stock valued at $7,512,000 after buying an additional 4,670 shares during the last quarter. Kestra Investment Management LLC grew its stake in shares of U.S. Bancorp by 367.6% during the first quarter. Kestra Investment Management LLC now owns 2,240 shares of the financial services provider’s stock valued at $95,000 after acquiring an additional 1,761 shares in the last quarter. Ashton Thomas Private Wealth LLC increased its position in shares of U.S. Bancorp by 1.5% during the first quarter. Ashton Thomas Private Wealth LLC now owns 43,150 shares of the financial services provider’s stock worth $1,843,000 after acquiring an additional 651 shares during the last quarter. Finally, Caxton Associates LLP acquired a new position in shares of U.S. Bancorp in the first quarter worth about $1,075,000. 77.60% of the stock is owned by institutional investors and hedge funds.

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.