U.S. Bancorp (NYSE:USB) Rating Increased to Outperform at Raymond James

Raymond James upgraded shares of U.S. Bancorp (NYSE:USB) from a market perform rating to an outperform rating in a research report sent to investors on Thursday morning, Marketbeat reports. They currently have $57.00 target price on the financial services provider’s stock.

USB has been the topic of a number of other research reports. Oppenheimer boosted their target price on shares of U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. 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 research report on Thursday, October 24th. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $54.00 to $57.00 in a report on Monday, September 30th. Stephens lifted their target price on U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, Piper Sandler upped their price target on U.S. Bancorp from $52.00 to $58.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $53.68.

U.S. Bancorp Stock Down 0.4 %

USB stock opened at $47.41 on Thursday. The stock has a fifty day moving average of $50.14 and a 200-day moving average of $45.44. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The company has a market capitalization of $73.96 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 3.03 and a beta of 1.03. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81.

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

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.22%. The ex-dividend date is Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is currently 61.16%.

U.S. Bancorp declared that its Board of Directors has authorized a share buyback plan 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 repurchase up to 7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.23% of the stock is currently owned by corporate insiders.

Institutional Trading of U.S. Bancorp

Several institutional investors have recently added to or reduced their stakes in USB. Redwood Wealth Management Group LLC bought a new stake in shares of U.S. Bancorp in the 2nd quarter valued at about $25,000. Frazier Financial Advisors LLC increased its stake in U.S. Bancorp by 222.7% in the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 441 shares during the period. 1620 Investment Advisors Inc. bought a new stake in U.S. Bancorp in the second quarter valued at approximately $30,000. Y.D. More Investments Ltd purchased a new stake in shares of U.S. Bancorp during the second quarter valued at approximately $33,000. Finally, Kimelman & Baird LLC bought a new position in shares of U.S. Bancorp in the second quarter worth approximately $40,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

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.