Brokerages Set U.S. Bancorp (NYSE:USB) Target Price at $53.50

U.S. Bancorp (NYSE:USB) has received an average recommendation of “Hold” from the eighteen analysts that are currently covering the stock, Marketbeat Ratings reports. Ten analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $53.50.

A number of equities analysts have recently weighed in on USB shares. Deutsche Bank Aktiengesellschaft cut U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target for the company. in a report on Thursday, October 24th. Evercore ISI increased their target price on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. DA Davidson boosted their price target on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Compass Point increased their price objective on shares of U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company boosted their target price on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, November 15th.

Insider Activity at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the completion of the sale, the insider now owns 129,790 shares in the company, valued at $6,363,603.70. This represents a 16.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of USB. B. Riley Wealth Advisors Inc. boosted its stake in shares of U.S. Bancorp by 1.3% during the third quarter. B. Riley Wealth Advisors Inc. now owns 36,987 shares of the financial services provider’s stock worth $1,687,000 after buying an additional 488 shares during the period. Franklin Resources Inc. raised its stake in U.S. Bancorp by 153.0% during the 3rd quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock valued at $374,573,000 after acquiring an additional 4,807,662 shares during the last quarter. Peapack Gladstone Financial Corp lifted its position in U.S. Bancorp by 0.5% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 250,340 shares of the financial services provider’s stock worth $11,449,000 after acquiring an additional 1,188 shares during the period. Synovus Financial Corp grew its stake in shares of U.S. Bancorp by 12.4% in the 3rd quarter. Synovus Financial Corp now owns 75,156 shares of the financial services provider’s stock valued at $3,437,000 after purchasing an additional 8,272 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB increased its holdings in shares of U.S. Bancorp by 126.1% in the third quarter. Wilmington Savings Fund Society FSB now owns 44,819 shares of the financial services provider’s stock valued at $2,050,000 after purchasing an additional 24,992 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Price Performance

Shares of USB stock opened at $49.96 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $77.94 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 3.03 and a beta of 1.03. The firm’s 50-day moving average is $50.04 and its two-hundred day moving average is $45.41. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating 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 net margin of 12.92% and a return on equity of 12.91%. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.05 EPS. Analysts predict that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.00%. U.S. Bancorp’s payout ratio is currently 61.16%.

U.S. Bancorp announced that its board has approved a share buyback program on Thursday, September 12th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

U.S. Bancorp Company Profile

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.