U.S. Bancorp (NYSE:USB – Get Free Report)’s stock price hit a new 52-week high during trading on Tuesday after Morgan Stanley raised their price target on the stock from $47.00 to $54.00. Morgan Stanley currently has an equal weight rating on the stock. U.S. Bancorp traded as high as $45.88 and last traded at $45.74, with a volume of 893918 shares. The stock had previously closed at $45.37.
Several other equities analysts have also commented on USB. Evercore ISI increased their target price on shares of U.S. Bancorp from $45.00 to $48.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. Oppenheimer reduced their target price on shares of U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday, April 18th. The Goldman Sachs Group increased their target price on shares of U.S. Bancorp from $42.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Barclays dropped their price target on shares of U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $45.00 price target (down previously from $52.00) on shares of U.S. Bancorp in a research report on Thursday, April 18th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $48.23.
Check Out Our Latest Report on USB
Insider Buying and Selling
In other U.S. Bancorp news, Director Aleem Gillani acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were bought at an average price of $44.99 per share, with a total value of $449,900.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at approximately $449,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.23% of the stock is currently owned by insiders.
Hedge Funds Weigh In On U.S. Bancorp
Large investors have recently added to or reduced their stakes in the company. Naples Money Management LLC purchased a new position in U.S. Bancorp during the fourth quarter valued at approximately $30,000. Financial Synergies Wealth Advisors Inc. purchased a new position in U.S. Bancorp during the first quarter valued at approximately $30,000. 1620 Investment Advisors Inc. purchased a new position in U.S. Bancorp during the second quarter valued at approximately $30,000. Eagle Bay Advisors LLC lifted its holdings in U.S. Bancorp by 93.2% during the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 331 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in U.S. Bancorp during the first quarter valued at approximately $31,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.
U.S. Bancorp Price Performance
The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. The firm has a market cap of $70.94 billion, a PE ratio of 15.05, a P/E/G ratio of 4.39 and a beta of 1.04. The firm’s fifty day simple moving average is $40.91 and its two-hundred day simple moving average is $41.55.
U.S. Bancorp (NYSE:USB – Get Free Report) last released its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter in the previous year, the firm earned $1.12 earnings per share. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. As a group, research analysts expect that U.S. Bancorp will post 3.9 EPS for the current year.
U.S. Bancorp Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend was Friday, June 28th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.
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.
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