Evercore ISI Issues Positive Forecast for U.S. Bancorp (NYSE:USB) Stock Price

U.S. Bancorp (NYSE:USB) had its price objective hoisted by Evercore ISI from $51.00 to $54.00 in a report published on Wednesday morning, Benzinga reports. They currently have an in-line rating on the financial services provider’s stock.

Several other equities analysts have also commented on the stock. The Goldman Sachs Group lowered their price target on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Oppenheimer upped their target price on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Wells Fargo & Company lifted their price target on U.S. Bancorp from $52.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Stephens increased their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Citigroup lifted their target price on U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Thirteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Hold” and a consensus price target of $50.87.

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $48.69 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The firm’s 50-day moving average price is $46.10 and its two-hundred day moving average price is $42.97. U.S. Bancorp has a 52-week low of $30.88 and a 52-week high of $50.47. The stock has a market capitalization of $75.98 billion, a P/E ratio of 14.89, a P/E/G ratio of 2.85 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (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 the consensus estimate of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The business’s revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the business posted $1.05 EPS. As a group, sell-side analysts forecast that U.S. Bancorp will post 3.9 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.50 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s dividend payout ratio is currently 61.16%.

U.S. Bancorp announced that its Board of Directors has approved a stock buyback plan on Thursday, September 12th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction on Friday, October 18th. The stock was 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 approximately $6,363,603.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Manning & Napier Advisors LLC acquired a new position in shares of U.S. Bancorp during the second quarter worth approximately $20,188,000. Mission Wealth Management LP lifted its holdings in U.S. Bancorp by 200.7% during the 1st quarter. Mission Wealth Management LP now owns 18,273 shares of the financial services provider’s stock worth $817,000 after buying an additional 12,197 shares in the last quarter. Janus Henderson Group PLC boosted its position in U.S. Bancorp by 6.4% in the 1st quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock valued at $12,363,000 after buying an additional 16,686 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of U.S. Bancorp by 90.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 862,317 shares of the financial services provider’s stock valued at $36,676,000 after buying an additional 409,192 shares during the period. Finally, Koshinski Asset Management Inc. acquired a new stake in shares of U.S. Bancorp in the 1st quarter valued at $732,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

About U.S. Bancorp

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.