Analysts Set U.S. Bancorp (NYSE:USB) Price Target at $61.20

Shares of U.S. Bancorp (NYSE:USB) have been given an average rating of “Moderate Buy” by the twenty-three brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, fourteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $61.20.

USB has been the subject of several research reports. Truist Financial reduced their target price on U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating for the company in a report on Friday, April 17th. Evercore boosted their target price on U.S. Bancorp from $60.00 to $65.00 and gave the company an “in-line” rating in a report on Thursday, February 5th. Royal Bank Of Canada boosted their target price on U.S. Bancorp from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Friday, April 17th. JPMorgan Chase & Co. reduced their target price on U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating for the company in a report on Thursday, April 30th. Finally, Oppenheimer boosted their target price on U.S. Bancorp from $73.00 to $74.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th.

U.S. Bancorp Trading Down 0.4%

NYSE:USB opened at $54.45 on Friday. The stock has a 50-day simple moving average of $54.35 and a 200-day simple moving average of $53.91. The stock has a market cap of $84.53 billion, a P/E ratio of 11.42, a P/E/G ratio of 0.99 and a beta of 1.00. U.S. Bancorp has a 1 year low of $42.55 and a 1 year high of $61.19. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.04. The business had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.03 EPS. As a group, analysts anticipate that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Tuesday, March 31st. U.S. Bancorp’s payout ratio is presently 43.61%.

Insider Activity

In other news, insider Jodi L. Richard sold 40,000 shares of the business’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the sale, the insider directly owned 207,251 shares of the company’s stock, valued at approximately $11,813,307. The trade was a 16.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the sale, the executive vice president directly owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by insiders.

Institutional Trading of U.S. Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in U.S. Bancorp by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider’s stock valued at $7,810,665,000 after acquiring an additional 1,828,404 shares during the last quarter. State Street Corp raised its stake in U.S. Bancorp by 0.8% during the 4th quarter. State Street Corp now owns 69,701,898 shares of the financial services provider’s stock valued at $3,755,083,000 after acquiring an additional 522,368 shares during the last quarter. Geode Capital Management LLC raised its stake in U.S. Bancorp by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 37,679,617 shares of the financial services provider’s stock valued at $2,002,518,000 after acquiring an additional 443,646 shares during the last quarter. Norges Bank purchased a new stake in U.S. Bancorp during the 4th quarter valued at approximately $1,887,497,000. Finally, Auto Owners Insurance Co raised its stake in U.S. Bancorp by 5,236.0% during the 4th quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock valued at $1,779,556,000 after acquiring an additional 32,725,000 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

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.