A number of other equities analysts also recently weighed in on USB. ValuEngine downgraded U.S. Bancorp from a hold rating to a sell rating in a research note on Monday, July 2nd. Wedbush reiterated a neutral rating on shares of U.S. Bancorp in a research note on Monday, July 23rd. Zacks Investment Research upgraded U.S. Bancorp from a hold rating to a buy rating and set a $61.00 price objective on the stock in a research note on Tuesday, September 18th. Macquarie upgraded U.S. Bancorp from a neutral rating to an outperform rating and upped their price objective for the company from $56.00 to $62.00 in a research note on Wednesday, October 10th. Finally, UBS Group upgraded U.S. Bancorp from a market perform rating to an outperform rating in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. U.S. Bancorp currently has an average rating of Hold and an average target price of $59.58.
Shares of NYSE USB traded up $0.39 during midday trading on Thursday, reaching $52.52. The company’s stock had a trading volume of 493,396 shares, compared to its average volume of 7,585,397. U.S. Bancorp has a 12-month low of $48.49 and a 12-month high of $58.50. The company has a market capitalization of $86.18 billion, a PE ratio of 15.23, a PEG ratio of 1.73 and a beta of 0.98. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.91.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were paid a $0.37 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $1.48 annualized dividend and a yield of 2.82%. U.S. Bancorp’s dividend payout ratio is presently 43.27%.
In related news, Vice Chairman John R. Elmore sold 58,924 shares of the company’s stock in a transaction that occurred on Monday, July 23rd. The stock was sold at an average price of $51.71, for a total value of $3,046,960.04. Following the transaction, the insider now owns 98,371 shares in the company, valued at $5,086,764.41. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.43% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the business. Massachusetts Financial Services Co. MA raised its holdings in U.S. Bancorp by 0.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 41,034,263 shares of the financial services provider’s stock valued at $2,052,534,000 after acquiring an additional 124,650 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of U.S. Bancorp by 15.0% in the second quarter. Bank of New York Mellon Corp now owns 15,867,860 shares of the financial services provider’s stock worth $793,710,000 after purchasing an additional 2,071,326 shares during the period. Janus Henderson Group PLC increased its holdings in shares of U.S. Bancorp by 8.5% in the second quarter. Janus Henderson Group PLC now owns 12,146,468 shares of the financial services provider’s stock worth $607,565,000 after purchasing an additional 946,517 shares during the period. American Century Companies Inc. increased its holdings in shares of U.S. Bancorp by 1.9% in the second quarter. American Century Companies Inc. now owns 10,220,827 shares of the financial services provider’s stock worth $511,246,000 after purchasing an additional 186,828 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of U.S. Bancorp by 2.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 5,861,928 shares of the financial services provider’s stock worth $293,214,000 after purchasing an additional 132,854 shares during the period. 74.41% of the stock is currently owned by institutional investors and hedge funds.
About U.S. Bancorp
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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