U.S. Bancorp (NYSE:USB) Price Target Raised to $52.50

U.S. Bancorp (NYSE:USB) had its price objective lifted by JPMorgan Chase & Co. from $51.00 to $52.50 in a research note issued to investors on Tuesday, BenzingaRatingsTable reports. They currently have an underweight rating on the financial services provider’s stock.

Several other brokerages have also issued reports on USB. Oppenheimer set a $15.00 price target on shares of Strongbridge Biopharma and gave the company a buy rating in a report on Tuesday, March 26th. Zacks Investment Research raised shares of GreenTree Hospitality Group from a sell rating to a hold rating in a report on Monday, April 15th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. U.S. Bancorp presently has an average rating of Hold and a consensus target price of $57.75.

Shares of USB stock opened at $53.47 on Tuesday. U.S. Bancorp has a 1 year low of $43.14 and a 1 year high of $55.56. The business’s fifty day moving average is $52.21. The company has a market capitalization of $84.67 billion, a price-to-earnings ratio of 13.04, a P/E/G ratio of 1.78 and a beta of 1.06. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.84 and a quick ratio of 0.83.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, April 17th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.00. The business had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.62 billion. U.S. Bancorp had a net margin of 27.02% and a return on equity of 15.53%. U.S. Bancorp’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.96 earnings per share. As a group, equities analysts anticipate that U.S. Bancorp will post 4.26 EPS for the current fiscal year.

U.S. Bancorp announced that its board has authorized a stock buyback program on Thursday, June 27th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 3.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Thursday, June 27th. U.S. Bancorp’s payout ratio is 36.10%.

In related news, Vice Chairman Leslie V. Godridge sold 12,564 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $51.53, for a total transaction of $647,422.92. Following the transaction, the insider now owns 39,330 shares in the company, valued at approximately $2,026,674.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Vice Chairman Gillern Jeffry H. Von sold 4,669 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $53.14, for a total transaction of $248,110.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,233 shares of company stock worth $1,907,734. 0.24% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Parametrica Management Ltd purchased a new stake in shares of U.S. Bancorp during the 4th quarter valued at approximately $240,000. Gilbert & Cook Inc. raised its position in shares of U.S. Bancorp by 4.1% during the 4th quarter. Gilbert & Cook Inc. now owns 6,838 shares of the financial services provider’s stock valued at $312,000 after buying an additional 271 shares during the period. Grandfield & Dodd LLC raised its position in shares of U.S. Bancorp by 5.0% during the 4th quarter. Grandfield & Dodd LLC now owns 272,176 shares of the financial services provider’s stock valued at $12,438,000 after buying an additional 13,044 shares during the period. Bahl & Gaynor Inc. raised its position in shares of U.S. Bancorp by 37.3% during the 4th quarter. Bahl & Gaynor Inc. now owns 3,074,627 shares of the financial services provider’s stock valued at $140,511,000 after buying an additional 834,565 shares during the period. Finally, Annex Advisory Services LLC raised its position in shares of U.S. Bancorp by 9.2% during the 4th quarter. Annex Advisory Services LLC now owns 6,163 shares of the financial services provider’s stock valued at $282,000 after buying an additional 520 shares during the period. Institutional investors and hedge funds own 74.61% of the company’s stock.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

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