Stock analysts at Wedbush initiated coverage on shares of U.S. Bancorp (NYSE:USB) in a research note issued on Thursday. The brokerage set a “neutral” rating and a $46.00 price target on the financial services provider’s stock. Wedbush’s target price points to a potential upside of 5.26% from the company’s previous close.
Several other equities analysts have also issued reports on the stock. Credit Agricole SA lifted their price target on shares of U.S. Bancorp from $43.00 to $45.00 and gave the stock an “underperform” rating in a report on Friday, September 23rd. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $46.00 price target (down from $47.00) on shares of U.S. Bancorp in a report on Monday, September 19th. Zacks Investment Research lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Monday, September 19th. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of U.S. Bancorp in a report on Saturday, September 17th. Finally, Wells Fargo & Co. reaffirmed a “buy” rating on shares of U.S. Bancorp in a report on Friday, September 16th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $45.21.
Shares of U.S. Bancorp (NYSE:USB) opened at 43.70 on Thursday. The firm has a 50-day moving average price of $43.33 and a 200-day moving average price of $42.04. The stock has a market cap of $74.79 billion, a price-to-earnings ratio of 13.70 and a beta of 0.82. U.S. Bancorp has a 52 week low of $37.07 and a 52 week high of $44.58.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Friday, July 15th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.03. U.S. Bancorp had a net margin of 26.56% and a return on equity of 14.05%. The business had revenue of $5.45 billion for the quarter. During the same period in the prior year, the firm posted $0.80 earnings per share. U.S. Bancorp’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, equities analysts anticipate that U.S. Bancorp will post $3.25 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be issued a $0.28 dividend. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, September 28th. This represents a $1.12 dividend on an annualized basis and a yield of 2.56%. U.S. Bancorp’s payout ratio is presently 35.00%.
In other U.S. Bancorp news, Vice Chairman Gillern Jeffry H. Von sold 102,961 shares of U.S. Bancorp stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $42.00, for a total value of $4,324,362.00. Following the completion of the transaction, the insider now owns 178,422 shares of the company’s stock, valued at $7,493,724. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Craig E. Gifford sold 2,500 shares of U.S. Bancorp stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $41.87, for a total transaction of $104,675.00. Following the completion of the transaction, the executive vice president now directly owns 49,881 shares of the company’s stock, valued at approximately $2,088,517.47. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in U.S. Bancorp by 1.3% in the second quarter. Vanguard Group Inc. now owns 96,577,846 shares of the financial services provider’s stock worth $3,894,984,000 after buying an additional 1,236,893 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in U.S. Bancorp by 19.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 34,933,283 shares of the financial services provider’s stock worth $1,408,860,000 after buying an additional 5,736,183 shares during the last quarter. Franklin Resources Inc. boosted its position in U.S. Bancorp by 8.0% in the first quarter. Franklin Resources Inc. now owns 17,805,686 shares of the financial services provider’s stock worth $722,733,000 after buying an additional 1,324,977 shares during the last quarter. BlackRock Group LTD boosted its position in U.S. Bancorp by 3.1% in the first quarter. BlackRock Group LTD now owns 15,988,334 shares of the financial services provider’s stock worth $648,967,000 after buying an additional 478,684 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in U.S. Bancorp by 2.6% in the first quarter. Wellington Management Group LLP now owns 15,059,741 shares of the financial services provider’s stock worth $611,275,000 after buying an additional 384,013 shares during the last quarter. 72.58% of the stock is owned by institutional investors.
About U.S. Bancorp
U.S. Bancorp is a multi-state financial services holding company. The Company’s banking subsidiary, U.S. Bank National Association, is engaged in the general banking business in domestic markets. It provides a range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services.
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