Royal Bank of Canada Raises U.S. Bancorp (NYSE:USB) Price Target to $48.00

U.S. Bancorp (NYSE:USB) had its price target lifted by Royal Bank of Canada from $47.00 to $48.00 in a report released on Thursday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the financial services provider’s stock.

Several other research analysts have also recently weighed in on USB. Compass Point raised shares of U.S. Bancorp from a neutral rating to a buy rating and increased their price target for the company from $46.00 to $49.00 in a report on Friday, March 22nd. Wells Fargo & Company lowered their target price on U.S. Bancorp from $50.00 to $48.00 and set an overweight rating on the stock in a research note on Thursday, April 18th. Jefferies Financial Group reduced their price target on U.S. Bancorp from $43.00 to $42.00 and set a hold rating for the company in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. cut U.S. Bancorp from an overweight rating to a neutral rating and set a $43.50 price objective on the stock. in a research report on Thursday, June 27th. Finally, Evercore ISI boosted their target price on shares of U.S. Bancorp from $45.00 to $48.00 and gave the company an in-line rating in a research report on Tuesday, June 25th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, U.S. Bancorp currently has a consensus rating of Hold and a consensus target price of $47.72.

U.S. Bancorp Trading Up 0.8 %

U.S. Bancorp stock opened at $44.76 on Thursday. The stock has a 50-day simple moving average of $40.39 and a 200 day simple moving average of $41.46. The stock has a market capitalization of $69.85 billion, a P/E ratio of 14.82, a PEG ratio of 4.30 and a beta of 1.04. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.81 and a current ratio of 0.81. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $45.85.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.04. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The business had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter last year, the firm posted $1.12 EPS. The company’s quarterly revenue was down 4.3% on a year-over-year basis. Analysts expect that U.S. Bancorp will post 3.84 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a $0.49 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.96 annualized dividend and a dividend yield of 4.38%. U.S. Bancorp’s payout ratio is 64.90%.

Insider Buying and Selling

In other U.S. Bancorp news, Director Aleem Gillani bought 10,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were purchased at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $449,900. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On U.S. Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kavar Capital Partners Group LLC increased its holdings in shares of U.S. Bancorp by 4.7% during the second quarter. Kavar Capital Partners Group LLC now owns 5,555 shares of the financial services provider’s stock worth $221,000 after buying an additional 250 shares in the last quarter. Accredited Investors Inc. grew its position in U.S. Bancorp by 2.0% during the 2nd quarter. Accredited Investors Inc. now owns 57,703 shares of the financial services provider’s stock worth $2,291,000 after acquiring an additional 1,135 shares during the last quarter. Central Bank & Trust Co. increased its holdings in U.S. Bancorp by 35.4% in the 2nd quarter. Central Bank & Trust Co. now owns 9,276 shares of the financial services provider’s stock worth $368,000 after purchasing an additional 2,425 shares in the last quarter. Western Wealth Management LLC raised its position in U.S. Bancorp by 1.7% in the second quarter. Western Wealth Management LLC now owns 36,311 shares of the financial services provider’s stock valued at $1,442,000 after purchasing an additional 607 shares during the last quarter. Finally, Williams Financial LLC acquired a new stake in shares of U.S. Bancorp during the second quarter valued at about $425,000. 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.