U.S. Bancorp (NYSE:USB) Stock Price Target Lowered at Raymond James Financial

U.S. Bancorp (NYSE:USB) had its price objective decreased by Raymond James Financial from $74.00 to $72.00 in a research report report published on Tuesday,Benzinga reports. Raymond James Financial currently has a strong-buy rating on the financial services provider’s stock.

A number of other brokerages also recently commented on USB. UBS Group lowered their price objective on shares of U.S. Bancorp from $66.00 to $64.00 and set a “neutral” rating on the stock in a research report on Monday. JPMorgan Chase & Co. decreased their target price on shares of U.S. Bancorp from $69.00 to $65.00 and set a “neutral” rating for the company in a research note on Friday, October 2nd. Wall Street Zen upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Monday, July 6th. BTIG Research set a $67.50 price target on shares of U.S. Bancorp in a research note on Monday, July 20th. Finally, Robert W. Baird raised their price target on shares of U.S. Bancorp from $64.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, U.S. Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $67.31.

U.S. Bancorp Stock Down 0.0%

Shares of U.S. Bancorp stock opened at $57.26 on Tuesday. The stock has a 50-day moving average price of $61.86 and a 200 day moving average price of $58.75. The company has a market cap of $89.21 billion, a P/E ratio of 11.43, a P/E/G ratio of 1.05 and a beta of 1.00. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96. U.S. Bancorp has a 1 year low of $45.02 and a 1 year high of $66.07.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.07. The company had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.58 billion. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.During the same quarter in the previous year, the business posted $1.11 EPS. As a group, analysts expect that U.S. Bancorp will post 5.25 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 3.8%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.52. The ex-dividend date is Wednesday, September 30th. U.S. Bancorp’s dividend payout ratio is currently 43.11%.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, CEO Gunjan Kedia sold 27,267 shares of the company’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $62.37, for a total value of $1,700,642.79. Following the transaction, the chief executive officer directly owned 426,262 shares in the company, valued at $26,585,960.94. The trade was a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen L. Philipson sold 36,906 shares of the company’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $63.08, for a total value of $2,328,030.48. Following the completion of the transaction, the insider directly owned 74,969 shares in the company, valued at $4,729,044.52. The trade was a 32.99% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On U.S. Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the company. Dogwood Wealth Management LLC boosted its position in shares of U.S. Bancorp by 32.9% in the 2nd quarter. Dogwood Wealth Management LLC now owns 687 shares of the financial services provider’s stock worth $41,000 after buying an additional 170 shares in the last quarter. Blalock Williams LLC grew its stake in U.S. Bancorp by 3.8% in the 2nd quarter. Blalock Williams LLC now owns 4,680 shares of the financial services provider’s stock valued at $283,000 after acquiring an additional 171 shares during the last quarter. Formidable Asset Management LLC increased its holdings in U.S. Bancorp by 0.8% during the 1st quarter. Formidable Asset Management LLC now owns 23,373 shares of the financial services provider’s stock valued at $1,247,000 after acquiring an additional 186 shares in the last quarter. FAS Wealth Partners Inc. increased its holdings in U.S. Bancorp by 0.9% during the 1st quarter. FAS Wealth Partners Inc. now owns 19,964 shares of the financial services provider’s stock valued at $1,038,000 after acquiring an additional 186 shares in the last quarter. Finally, Balboa Wealth Partners raised its position in U.S. Bancorp by 4.0% during the first quarter. Balboa Wealth Partners now owns 4,920 shares of the financial services provider’s stock worth $256,000 after acquiring an additional 188 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Company Profile

U.S. Bancorp is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. The company provides banking, lending, payment, investment, and wealth management services to individuals, businesses, government entities, and institutional clients.

Through U.S. Bank, its principal subsidiary, U.S. Bancorp offers checking and savings accounts, credit cards, mortgages, consumer and business loans, commercial banking, treasury management, investment services, and financial planning.