Brokerages Set U.S. Bancorp (NYSE:USB) PT at $48.23

Shares of U.S. Bancorp (NYSE:USB) have received an average recommendation of “Hold” from the nineteen brokerages that are covering the stock, MarketBeat Ratings reports. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $48.23.

USB has been the subject of a number of research reports. JPMorgan Chase & Co. lowered 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. Royal Bank of Canada raised their target price on shares of U.S. Bancorp from $47.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Evercore ISI increased their price objective 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. StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Citigroup increased their price target on shares of U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th.

Insiders Place Their Bets

In related news, Director Aleem Gillani purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was purchased at an average price of $44.99 per share, with a total value of $449,900.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $449,900. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On U.S. Bancorp

Several institutional investors have recently made changes to their positions in USB. Redwood Wealth Management Group LLC purchased a new position in U.S. Bancorp during the 2nd quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. purchased a new position in U.S. Bancorp during the first quarter valued at approximately $30,000. LRI Investments LLC bought a new position in U.S. Bancorp in the first quarter worth approximately $31,000. Eagle Bay Advisors LLC lifted its holdings in U.S. Bancorp by 93.2% during the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock worth $31,000 after buying an additional 331 shares during the period. Finally, Naples Money Management LLC bought a new stake in U.S. Bancorp during the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Up 0.9 %

U.S. Bancorp stock opened at $43.19 on Monday. U.S. Bancorp has a 1 year low of $30.47 and a 1 year high of $45.88. The firm’s 50 day moving average price is $41.59 and its 200-day moving average price is $41.58. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. The stock has a market cap of $67.40 billion, a P/E ratio of 14.30, a PEG ratio of 4.20 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.94 by $0.04. The business had revenue of $6.87 billion for 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 business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.12 EPS. On average, equities analysts predict that U.S. Bancorp will post 3.9 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a dividend of $0.49 per share. The ex-dividend date was Friday, June 28th. This represents a $1.96 dividend on an annualized basis and a yield of 4.54%. U.S. Bancorp’s payout ratio is 64.90%.

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.