U.S. Bancorp (NYSE:USB) PT Raised to $54.00

U.S. Bancorp (NYSE:USB) had its target price increased by DA Davidson from $49.00 to $54.00 in a report published on Thursday, Marketbeat Ratings reports. DA Davidson currently has a neutral rating on the financial services provider’s stock. DA Davidson also issued estimates for U.S. Bancorp’s Q4 2024 earnings at $1.08 EPS.

USB has been the subject of several other research reports. JPMorgan Chase & Co. cut shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective for the company. in a research note on Thursday, June 27th. Stephens increased their price target on U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday. Jefferies Financial Group lowered their price objective on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Oppenheimer raised their target price on U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $50.71.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock opened at $49.16 on Thursday. The stock has a market capitalization of $76.71 billion, a P/E ratio of 16.28, a PEG ratio of 3.32 and a beta of 1.03. The business has a 50 day simple moving average of $45.24 and a two-hundred day simple moving average of $42.66. U.S. Bancorp has a 12 month low of $30.47 and a 12 month high of $50.47. 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 quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same quarter last year, the firm posted $1.05 EPS. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, analysts predict that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.50 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.00 annualized dividend and a yield of 4.07%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 66.23%.

U.S. Bancorp announced that its board has approved a share repurchase plan on Thursday, September 12th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of U.S. Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in USB. Banque Cantonale Vaudoise raised its position in shares of U.S. Bancorp by 49.0% in the first quarter. Banque Cantonale Vaudoise now owns 6,034 shares of the financial services provider’s stock valued at $270,000 after buying an additional 1,983 shares during the last quarter. Wedmont Private Capital grew its stake in U.S. Bancorp by 3.9% in the 1st quarter. Wedmont Private Capital now owns 16,118 shares of the financial services provider’s stock worth $708,000 after acquiring an additional 611 shares during the period. Park Avenue Securities LLC raised its holdings in U.S. Bancorp by 3.5% in the 1st quarter. Park Avenue Securities LLC now owns 166,945 shares of the financial services provider’s stock valued at $7,462,000 after acquiring an additional 5,575 shares during the last quarter. Marcum Wealth LLC lifted its stake in shares of U.S. Bancorp by 63.2% during the 1st quarter. Marcum Wealth LLC now owns 9,990 shares of the financial services provider’s stock worth $447,000 after purchasing an additional 3,868 shares during the period. Finally, Midwest Financial Group LLC boosted its holdings in shares of U.S. Bancorp by 2.0% during the first quarter. Midwest Financial Group LLC now owns 31,556 shares of the financial services provider’s stock worth $1,411,000 after purchasing an additional 606 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

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.