U.S. Bancorp (NYSE:USB) Sets New 12-Month High Following Analyst Upgrade


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U.S. Bancorp (NYSE:USB) reached a new 52-week high on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $60.00 to $64.50. JPMorgan Chase & Co. currently has an overweight rating on the stock. U.S. Bancorp traded as high as $60.66 and last traded at $60.60, with a volume of 7497167 shares traded. The stock had previously closed at $59.29.

USB has been the topic of several other reports. Jefferies Financial Group lifted their target price on U.S. Bancorp from $55.00 to $66.00 and gave the company a “buy” rating in a research report on Friday, April 9th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their target price on U.S. Bancorp from $63.00 to $65.00 in a research note on Wednesday, April 21st. Bank of America raised U.S. Bancorp from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $58.00 to $62.00 in a research note on Monday, April 19th. Barclays increased their price objective on U.S. Bancorp from $61.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, April 7th. Finally, Stephens increased their price target on U.S. Bancorp from $52.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 30th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $56.15.

In other U.S. Bancorp news, CFO Terrance R. Dolan sold 19,149 shares of the stock in a transaction that occurred on Friday, April 30th. The stock was sold at an average price of $59.11, for a total value of $1,131,897.39. Following the completion of the sale, the chief financial officer now owns 138,374 shares in the company, valued at approximately $8,179,287.14. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Andrew Cecere sold 184,187 shares of the firm’s stock in a transaction that occurred on Thursday, April 22nd. The shares were sold at an average price of $56.48, for a total value of $10,402,881.76. Following the completion of the transaction, the chief executive officer now owns 1,037,110 shares of the company’s stock, valued at approximately $58,575,972.80. The disclosure for this sale can be found here. Insiders sold a total of 251,779 shares of company stock valued at $14,319,060 in the last 90 days. Corporate insiders own 0.23% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Somerset Trust Co grew its holdings in shares of U.S. Bancorp by 0.6% in the first quarter. Somerset Trust Co now owns 31,353 shares of the financial services provider’s stock worth $1,734,000 after acquiring an additional 181 shares during the period. North Star Investment Management Corp. lifted its position in shares of U.S. Bancorp by 0.7% in the first quarter. North Star Investment Management Corp. now owns 27,682 shares of the financial services provider’s stock valued at $1,531,000 after acquiring an additional 185 shares in the last quarter. Joel Isaacson & Co. LLC lifted its position in shares of U.S. Bancorp by 4.1% in the first quarter. Joel Isaacson & Co. LLC now owns 4,777 shares of the financial services provider’s stock worth $264,000 after buying an additional 190 shares in the last quarter. JNBA Financial Advisors lifted its position in shares of U.S. Bancorp by 1.6% in the first quarter. JNBA Financial Advisors now owns 11,813 shares of the financial services provider’s stock worth $653,000 after buying an additional 191 shares in the last quarter. Finally, Sanders Morris Harris LLC lifted its position in shares of U.S. Bancorp by 2.6% in the first quarter. Sanders Morris Harris LLC now owns 7,960 shares of the financial services provider’s stock worth $452,000 after buying an additional 200 shares in the last quarter. 71.73% of the stock is owned by institutional investors and hedge funds.

The company has a 50 day simple moving average of $56.60 and a two-hundred day simple moving average of $48.52. The company has a quick ratio of 0.80, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $91.06 billion, a P/E ratio of 20.07, a PEG ratio of 2.26 and a beta of 1.09.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, April 14th. The financial services provider reported $1.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.49. U.S. Bancorp had a return on equity of 10.99% and a net margin of 18.68%. The company had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.53 billion. During the same period in the previous year, the firm posted $0.72 earnings per share. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. As a group, research analysts expect that U.S. Bancorp will post 3.06 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 15th. Stockholders of record on Wednesday, March 31st were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Tuesday, March 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.77%. U.S. Bancorp’s dividend payout ratio is 38.71%.

U.S. Bancorp Company Profile (NYSE:USB)

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments. The company offers depository services, including checking accounts, savings accounts, and time certificate contracts; lending services, such as traditional credit products; and credit card services, lease financing and import/export trade, asset-backed lending, agricultural finance, and other products.

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