U.S. Bancorp (NYSE:USB) Stock Has Average Price Target of $67.06

Shares of U.S. Bancorp (NYSE:USB) have earned an average rating of “Moderate Buy” from the twenty-five analysts that are presently covering the stock, MarketBeat.com reports. Eight analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $67.40.

Several brokerages recently issued reports on USB. DA Davidson raised their target price on shares of U.S. Bancorp from $72.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, July 17th. JPMorgan Chase & Co. cut their target price on shares of U.S. Bancorp from $69.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday. Barclays boosted their target price on shares of U.S. Bancorp from $67.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Jefferies Financial Group raised U.S. Bancorp from a “hold” rating to a “buy” rating and increased their price target for the company from $60.00 to $75.00 in a report on Monday, July 6th. Finally, Stephens raised their price target on U.S. Bancorp from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Friday, July 17th.

Insider Activity

In other news, insider Stephen L. Philipson sold 36,906 shares of the company’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the completion of the sale, the insider owned 74,969 shares of the company’s stock, valued at $4,729,044.52. This represents a 32.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Gunjan Kedia sold 27,267 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the completion of the transaction, the chief executive officer owned 426,262 shares in the company, valued at $26,585,960.94. This trade represents a 6.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On U.S. Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the business. QRG Capital Management Inc. raised its holdings in U.S. Bancorp by 15.2% in the 2nd quarter. QRG Capital Management Inc. now owns 300,453 shares of the financial services provider’s stock worth $18,147,000 after purchasing an additional 39,591 shares during the period. Security National Bank of Sioux City Iowa IA bought a new stake in U.S. Bancorp during the second quarter valued at about $105,000. Keystone Financial Planning Inc. grew its holdings in U.S. Bancorp by 0.9% during the second quarter. Keystone Financial Planning Inc. now owns 226,360 shares of the financial services provider’s stock valued at $13,672,000 after purchasing an additional 2,012 shares during the period. Tidal Investments LLC grew its holdings in U.S. Bancorp by 14.4% during the second quarter. Tidal Investments LLC now owns 111,909 shares of the financial services provider’s stock valued at $6,759,000 after purchasing an additional 14,065 shares during the period. Finally, MCF Advisors LLC increased its position in U.S. Bancorp by 5.8% in the second quarter. MCF Advisors LLC now owns 38,771 shares of the financial services provider’s stock worth $2,357,000 after buying an additional 2,121 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $57.51 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.82 and a current ratio of 0.83. The firm has a market cap of $89.60 billion, a price-to-earnings ratio of 11.48, a price-to-earnings-growth ratio of 1.05 and a beta of 1.00. The business has a 50-day simple moving average of $62.13 and a two-hundred day simple moving average of $58.61. U.S. Bancorp has a fifty-two week low of $45.02 and a fifty-two week high of $66.07.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The firm had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter last year, the firm posted $1.11 EPS. On average, analysts expect that U.S. Bancorp will post 5.25 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $0.54 dividend. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.52. This represents a $2.16 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Wednesday, September 30th. U.S. Bancorp’s dividend payout ratio is currently 43.11%.

U.S. Bancorp Company Profile

U.S. Bancorp is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. The company provides banking, lending, payment, investment, and wealth management services to individuals, businesses, government entities, and institutional clients.

Through U.S. Bank, its principal subsidiary, U.S. Bancorp offers checking and savings accounts, credit cards, mortgages, consumer and business loans, commercial banking, treasury management, investment services, and financial planning.