U.S. Bancorp (NYSE:USB) Given New $59.00 Price Target at Citigroup

U.S. Bancorp (NYSE:USB) had its price objective lifted by Citigroup from $55.00 to $59.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Several other research analysts also recently weighed in on USB. Truist Financial lowered their price objective on shares of U.S. Bancorp from $51.00 to $48.00 and set a “hold” rating on the stock in a report on Thursday, April 17th. Morgan Stanley lowered their target price on shares of U.S. Bancorp from $51.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. The Goldman Sachs Group lifted their price target on U.S. Bancorp from $41.00 to $46.00 and gave the company a “neutral” rating in a research note on Tuesday, June 10th. Cowen initiated coverage on U.S. Bancorp in a report on Wednesday, May 14th. They issued a “buy” rating on the stock. Finally, DA Davidson decreased their price target on U.S. Bancorp from $54.00 to $49.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $50.89.

U.S. Bancorp Stock Up 2.1%

Shares of U.S. Bancorp stock opened at $47.47 on Wednesday. The firm has a market cap of $73.96 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 1.75 and a beta of 0.99. The stock’s 50-day moving average is $43.39 and its 200 day moving average is $44.45. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.80 and a quick ratio of 0.80. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.06. U.S. Bancorp had a net margin of 15.70% and a return on equity of 13.02%. The business had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.92 billion. During the same period last year, the company posted $0.78 earnings per share. Equities research analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend is Monday, June 30th. U.S. Bancorp’s dividend payout ratio is currently 49.50%.

Insider Activity

In other news, Director Aleem Gillani purchased 5,000 shares of the business’s stock in a transaction dated Monday, April 21st. The stock was bought at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the purchase, the director owned 15,000 shares of the company’s stock, valued at $559,800. The trade was a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On U.S. Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. J.Safra Asset Management Corp bought a new position in shares of U.S. Bancorp in the fourth quarter valued at approximately $26,000. Saudi Central Bank bought a new stake in U.S. Bancorp during the first quarter valued at $26,000. Westend Capital Management LLC bought a new position in U.S. Bancorp in the 1st quarter worth about $27,000. YANKCOM Partnership boosted its position in shares of U.S. Bancorp by 59.4% during the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 260 shares during the last quarter. Finally, Picton Mahoney Asset Management bought a new position in shares of U.S. Bancorp in the fourth quarter worth approximately $30,000. Institutional investors own 77.60% of the company’s stock.

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.