U.S. Bancorp (NYSE:USB) Price Target Raised to $57.00

U.S. Bancorp (NYSE:USB) had its price objective upped by Barclays from $52.00 to $57.00 in a research note published on Thursday morning, Benzinga reports. Barclays currently has an overweight rating on the financial services provider’s stock.

Other analysts also recently issued reports about the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $48.00 target price on shares of U.S. Bancorp in a report on Friday, September 13th. Evercore ISI increased their price objective on U.S. Bancorp from $49.00 to $51.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. Stephens raised their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday. Wells Fargo & Company boosted their target price on U.S. Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. Finally, JPMorgan Chase & Co. lowered U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price target for the company. in a research report on Thursday, June 27th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, U.S. Bancorp has a consensus rating of “Hold” and a consensus price target of $50.71.

U.S. Bancorp Stock Performance

USB opened at $49.16 on Thursday. U.S. Bancorp has a 1-year low of $30.47 and a 1-year high of $50.47. The company has a market capitalization of $76.71 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 3.32 and a beta of 1.03. The business has a 50 day moving average price of $45.24 and a two-hundred day moving average price of $42.66. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The business had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter last year, the business posted $1.05 earnings per share. The company’s quarterly revenue was down 2.4% on a year-over-year basis. Research analysts predict that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.50 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.07%. U.S. Bancorp’s dividend payout ratio is 66.23%.

U.S. Bancorp announced that its board has initiated a stock repurchase plan on Thursday, September 12th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On U.S. Bancorp

Large investors have recently bought and sold shares of the business. Marshall Wace LLP lifted its position in shares of U.S. Bancorp by 1,438.4% in the second quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider’s stock worth $89,853,000 after buying an additional 2,116,175 shares during the last quarter. National Bank of Canada FI lifted its holdings in U.S. Bancorp by 313.8% in the 2nd quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock worth $105,903,000 after purchasing an additional 2,046,522 shares during the last quarter. BNP Paribas Financial Markets boosted its position in U.S. Bancorp by 88.9% during the first quarter. BNP Paribas Financial Markets now owns 2,331,050 shares of the financial services provider’s stock worth $104,198,000 after purchasing an additional 1,097,179 shares during the period. Clearbridge Investments LLC grew its holdings in U.S. Bancorp by 16.2% during the first quarter. Clearbridge Investments LLC now owns 6,941,466 shares of the financial services provider’s stock valued at $310,284,000 after purchasing an additional 967,143 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of U.S. Bancorp by 15.6% in the second quarter. American Century Companies Inc. now owns 6,846,497 shares of the financial services provider’s stock valued at $271,806,000 after purchasing an additional 925,073 shares during the period. 77.60% of the stock is currently owned by institutional investors.

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.