U.S. Bancorp (NYSE:USB) Hits New 1-Year High – Here’s Why

Shares of U.S. Bancorp (NYSE:USB) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $54.64 and last traded at $54.4930, with a volume of 443478 shares trading hands. The stock had previously closed at $54.16.

Wall Street Analyst Weigh In

USB has been the topic of a number of recent analyst reports. DA Davidson lifted their price objective on U.S. Bancorp from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Wells Fargo & Company lifted their price target on U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. TD Cowen upped their price target on U.S. Bancorp from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Oppenheimer lowered their price objective on shares of U.S. Bancorp from $66.00 to $64.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 19th. Finally, UBS Group upped their target price on shares of U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.95.

U.S. Bancorp Price Performance

The company has a fifty day moving average price of $49.06 and a two-hundred day moving average price of $47.57. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10. The company has a market cap of $84.69 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 1.03 and a beta of 1.10.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. The firm had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.17 billion. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.03 earnings per share. As a group, equities research analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Wednesday, December 31st. U.S. Bancorp’s payout ratio is 47.60%.

Insider Activity

In other news, EVP James L. Chosy sold 26,909 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.86, for a total value of $1,260,955.74. Following the sale, the executive vice president directly owned 226,375 shares in the company, valued at approximately $10,607,932.50. This represents a 10.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Andrew Cecere sold 140,445 shares of the stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.34, for a total value of $6,508,221.30. Following the completion of the transaction, the chairman directly owned 1,360,414 shares of the company’s stock, valued at approximately $63,041,584.76. The trade was a 9.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.23% of the company’s stock.

Institutional Trading of U.S. Bancorp

A number of large investors have recently bought and sold shares of USB. Vanguard Group Inc. grew its holdings in shares of U.S. Bancorp by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 144,548,379 shares of the financial services provider’s stock worth $6,986,023,000 after purchasing an additional 1,279,104 shares during the last quarter. State Street Corp boosted its position in U.S. Bancorp by 0.9% in the third quarter. State Street Corp now owns 69,179,530 shares of the financial services provider’s stock valued at $3,378,808,000 after buying an additional 648,943 shares in the last quarter. Geode Capital Management LLC grew its stake in U.S. Bancorp by 1.3% during the second quarter. Geode Capital Management LLC now owns 36,632,410 shares of the financial services provider’s stock worth $1,650,305,000 after buying an additional 456,890 shares during the last quarter. Norges Bank bought a new position in shares of U.S. Bancorp in the second quarter valued at approximately $971,285,000. Finally, Amundi raised its stake in shares of U.S. Bancorp by 2.2% in the first quarter. Amundi now owns 19,907,665 shares of the financial services provider’s stock valued at $773,268,000 after acquiring an additional 422,050 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.