U.S. Bancorp (NYSE:USB) Given New $61.00 Price Target at Barclays

U.S. Bancorp (NYSE:USB) had its price target upped by Barclays from $57.00 to $61.00 in a report released on Monday morning,Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

A number of other analysts have also recently commented on the stock. Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a research note on Thursday, October 17th. Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their target price for the company from $49.00 to $65.00 in a research note on Monday, November 25th. Oppenheimer dropped their price objective on U.S. Bancorp from $66.00 to $62.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Raymond James upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price for the company in a research note on Thursday, December 19th. Finally, Wells Fargo & Company increased their price target on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp presently has an average rating of “Hold” and a consensus target price of $54.07.

U.S. Bancorp Price Performance

NYSE:USB opened at $48.50 on Monday. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98. The company has a market cap of $75.66 billion, a P/E ratio of 14.83, a P/E/G ratio of 3.01 and a beta of 1.05. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. The stock’s 50-day simple moving average is $50.20 and its 200 day simple moving average is $46.40.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.04. The firm had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.05 EPS. As a group, sell-side analysts forecast that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.12%. U.S. Bancorp’s dividend payout ratio is presently 61.16%.

U.S. Bancorp announced that its Board of Directors has initiated a stock repurchase plan on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Activity at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $49.03, for a total value of $1,225,750.00. Following the completion of the transaction, the insider now owns 129,790 shares of the company’s stock, valued at $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On U.S. Bancorp

A number of large investors have recently bought and sold shares of USB. Redwood Wealth Management Group LLC bought a new stake in shares of U.S. Bancorp during the 2nd quarter worth approximately $25,000. Frazier Financial Advisors LLC raised its position in U.S. Bancorp by 222.7% during the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 441 shares in the last quarter. Global Wealth Strategies & Associates lifted its stake in U.S. Bancorp by 70.8% during the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 250 shares during the last quarter. Y.D. More Investments Ltd acquired a new stake in shares of U.S. Bancorp in the 2nd quarter valued at $33,000. Finally, Kimelman & Baird LLC acquired a new stake in shares of U.S. Bancorp in the 2nd quarter valued at $40,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

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.