U.S. Bancorp (NYSE:USB) Price Target Raised to $69.00

U.S. Bancorp (NYSE:USB) had its target price lifted by Wells Fargo & Company from $66.00 to $69.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

USB has been the topic of several other research reports. Oppenheimer dropped their target price on shares of U.S. Bancorp from $74.00 to $73.00 and set an “outperform” rating on the stock in a report on Tuesday, June 30th. Royal Bank Of Canada upped their price target on shares of U.S. Bancorp from $61.00 to $68.00 and gave the company an “outperform” rating in a report on Friday. Robert W. Baird raised their price target on U.S. Bancorp from $64.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday. UBS Group boosted their price objective on U.S. Bancorp from $58.00 to $66.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 7th. Finally, DA Davidson boosted their price objective on U.S. Bancorp from $72.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.52.

U.S. Bancorp Trading Down 0.0%

Shares of USB stock opened at $63.14 on Friday. U.S. Bancorp has a 12 month low of $43.46 and a 12 month high of $64.84. The company has a market cap of $97.93 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 1.07 and a beta of 0.96. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96. The business’s 50 day moving average is $57.89 and its two-hundred day moving average is $56.09.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.07. The business had revenue of $7.71 billion during the quarter, compared to analysts’ expectations of $7.58 billion. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. During the same period in the previous year, the company earned $1.11 earnings per share. Equities analysts predict that U.S. Bancorp will post 5.18 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 41.52%.

Insider Buying and Selling

In related news, EVP Venkatachari Dilip sold 34,522 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the transaction, the executive vice president directly owned 51,292 shares of the company’s stock, valued at $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jodi L. Richard sold 40,000 shares of U.S. Bancorp stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the sale, the insider owned 207,251 shares in the company, valued at $11,813,307. This represents a 16.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On U.S. Bancorp

Hedge funds have recently made changes to their positions in the business. Clayton Financial Group LLC acquired a new stake in shares of U.S. Bancorp during the 4th quarter valued at about $25,000. Financial Life Planners bought a new stake in U.S. Bancorp in the first quarter valued at about $27,000. Main Street Group LTD acquired a new position in U.S. Bancorp in the first quarter worth about $28,000. JPL Wealth Management LLC acquired a new position in U.S. Bancorp in the third quarter worth about $28,000. Finally, Binnacle Investments Inc lifted its stake in U.S. Bancorp by 77.8% during the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 273 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Trending Headlines about U.S. Bancorp

Here are the key news stories impacting U.S. Bancorp this week:

• Positive Sentiment: U.S. Bancorp posted Q2 earnings of $1.35 per share on revenue of $7.71 billion, both above estimates, with record quarterly revenue driven by loan growth, fee income, and a boost from its BTIG acquisition. U.S. Bancorp Q2 Earnings Beat Estimates on NII & Fee Revenue Growth
• Positive Sentiment: Management raised full-year revenue guidance to a 7% to 9% growth range, signaling confidence that momentum from higher net interest income and fee revenue will continue. Is USB’s Stronger Outlook And BTIG Fee Push Altering The Investment Case For U.S. Bancorp (USB)?
• Positive Sentiment: Several firms lifted price targets after the earnings release, including Oppenheimer, Wells Fargo, Truist, RBC, and Baird, reflecting improved sentiment around USB’s outlook. US Bancorp analysts boost their forecasts after upbeat Q2 results

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.