Evercore ISI Boosts U.S. Bancorp (NYSE:USB) Price Target to $48.00

U.S. Bancorp (NYSE:USB) had its price objective upped by Evercore ISI from $45.00 to $48.00 in a research note released on Tuesday, Benzinga reports. The brokerage currently has an in-line rating on the financial services provider’s stock.

Other equities analysts have also recently issued reports about the stock. Morgan Stanley reaffirmed an equal weight rating and issued a $45.00 price objective on shares of U.S. Bancorp in a research note on Friday, June 21st. Royal Bank of Canada reissued an outperform rating and set a $47.00 price target on shares of U.S. Bancorp in a research report on Thursday, May 16th. StockNews.com raised shares of U.S. Bancorp from a sell rating to a hold rating in a research report on Friday, June 14th. HSBC raised shares of U.S. Bancorp from a hold rating to a buy rating and lifted their price target for the stock from $47.00 to $53.00 in a research report on Thursday, March 28th. Finally, UBS Group reduced their price target on shares of U.S. Bancorp from $47.00 to $43.00 and set a neutral rating on the stock in a research report on Friday, April 19th. Sixteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $46.02.

U.S. Bancorp Price Performance

USB opened at $39.68 on Tuesday. U.S. Bancorp has a one year low of $30.47 and a one year high of $45.85. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81. The company’s 50 day simple moving average is $40.36 and its 200-day simple moving average is $41.71. The stock has a market capitalization of $61.92 billion, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 3.85 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The business had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same period in the prior year, the firm earned $1.16 earnings per share. U.S. Bancorp’s revenue was down 6.4% compared to the same quarter last year. Sell-side analysts anticipate that U.S. Bancorp will post 3.84 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.94%. The ex-dividend date of this dividend is Friday, June 28th. U.S. Bancorp’s payout ratio is 64.90%.

Institutional Trading of U.S. Bancorp

A number of institutional investors have recently bought and sold shares of USB. Natixis Advisors L.P. boosted its holdings in U.S. Bancorp by 1.0% in the 3rd quarter. Natixis Advisors L.P. now owns 377,421 shares of the financial services provider’s stock valued at $12,478,000 after purchasing an additional 3,691 shares during the period. Profund Advisors LLC lifted its holdings in shares of U.S. Bancorp by 1.7% during the 3rd quarter. Profund Advisors LLC now owns 21,357 shares of the financial services provider’s stock worth $706,000 after acquiring an additional 356 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in shares of U.S. Bancorp by 11.3% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 177,831 shares of the financial services provider’s stock worth $5,879,000 after acquiring an additional 18,007 shares during the period. Mather Group LLC. lifted its holdings in shares of U.S. Bancorp by 47.0% during the 3rd quarter. Mather Group LLC. now owns 16,795 shares of the financial services provider’s stock worth $555,000 after acquiring an additional 5,370 shares during the period. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of U.S. Bancorp by 0.4% during the 3rd quarter. Treasurer of the State of North Carolina now owns 693,018 shares of the financial services provider’s stock worth $22,911,000 after acquiring an additional 2,920 shares during the period. Institutional investors 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.