Wells Fargo & Company Boosts U.S. Bancorp (NYSE:USB) Price Target to $52.00

U.S. Bancorp (NYSE:USB) had its price objective boosted by Wells Fargo & Company from $48.00 to $52.00 in a research note issued to investors on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the financial services provider’s stock.

Several other research analysts have also recently weighed in on USB. Keefe, Bruyette & Woods restated a market perform rating and set a $45.00 target price (down from $52.00) on shares of U.S. Bancorp in a report on Thursday, April 18th. Compass Point raised U.S. Bancorp from a neutral rating to a buy rating and raised their target price for the stock from $46.00 to $49.00 in a research note on Friday, March 22nd. Morgan Stanley reissued an equal weight rating and set a $45.00 price target on shares of U.S. Bancorp in a research report on Friday, June 21st. Barclays cut their price objective on shares of U.S. Bancorp from $56.00 to $52.00 and set an overweight rating for the company in a research report on Thursday, April 18th. Finally, JPMorgan Chase & Co. cut shares of U.S. Bancorp from an overweight rating to a neutral rating and set a $43.50 price target for the company. in a research note on Thursday, June 27th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $47.72.

U.S. Bancorp Stock Up 0.8 %

NYSE USB opened at $44.76 on Thursday. The business has a fifty day moving average price of $40.39 and a 200 day moving average price of $41.45. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $69.85 billion, a P/E ratio of 14.82, a P/E/G ratio of 4.34 and a beta of 1.04. U.S. Bancorp has a one year low of $30.47 and a one year high of $45.85.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. The business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.12 earnings per share. Research analysts anticipate that U.S. Bancorp will post 3.89 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders 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 yield of 4.38%. U.S. Bancorp’s dividend payout ratio is presently 64.90%.

Insider Transactions at U.S. Bancorp

In other news, Director Aleem Gillani purchased 10,000 shares of the company’s stock in a transaction that occurred 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 purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $449,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Focus Financial Network Inc. ADV acquired a new stake in U.S. Bancorp during the 4th quarter worth approximately $5,440,000. Spinnaker Trust acquired a new stake in U.S. Bancorp in the fourth quarter valued at about $220,000. Morningstar Investment Management LLC boosted its holdings in U.S. Bancorp by 760.8% in the 4th quarter. Morningstar Investment Management LLC now owns 83,833 shares of the financial services provider’s stock valued at $3,628,000 after purchasing an additional 74,094 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in U.S. Bancorp during the 4th quarter worth approximately $4,073,000. Finally, abrdn plc boosted its stake in shares of U.S. Bancorp by 71.9% in the fourth quarter. abrdn plc now owns 652,401 shares of the financial services provider’s stock valued at $28,236,000 after buying an additional 272,976 shares in 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, 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.