U.S. Bancorp (NYSE:USB) Upgraded to Overweight at Piper Sandler

Piper Sandler upgraded shares of U.S. Bancorp (NYSE:USB) from a neutral rating to an overweight rating in a research note published on Monday morning, MarketBeat.com reports. Piper Sandler currently has $58.00 price objective on the financial services provider’s stock.

Other equities research analysts have also issued research reports about the company. Stephens raised their target price on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Morgan Stanley upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Barclays upped their target price on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Oppenheimer dropped their target price on shares of U.S. Bancorp from $66.00 to $62.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Finally, DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the company from $58.00 to $60.00 in a research note on Thursday, January 2nd. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $54.07.

U.S. Bancorp Stock Up 2.1 %

Shares of U.S. Bancorp stock opened at $48.38 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 50 day moving average of $50.22 and a 200 day moving average of $46.61. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $75.47 billion, a P/E ratio of 14.80, a P/E/G ratio of 3.01 and a beta of 1.05.

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

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.13%. U.S. Bancorp’s payout ratio is currently 61.16%.

Insider Activity

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction on 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 sale, the insider now owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On U.S. Bancorp

A number of large investors have recently made changes to their positions in the stock. Redwood Wealth Management Group LLC acquired a new position in U.S. Bancorp during the second quarter worth about $25,000. Frazier Financial Advisors LLC boosted its stake in shares of U.S. Bancorp by 222.7% during the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 441 shares in the last quarter. Global Wealth Strategies & Associates grew its holdings in shares of U.S. Bancorp by 70.8% in the 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 250 shares during the period. FNY Investment Advisers LLC purchased a new position in U.S. Bancorp in the 4th quarter valued at approximately $38,000. Finally, Kimelman & Baird LLC acquired a new position in U.S. Bancorp during the second quarter worth $40,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

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.