Morgan Stanley Raises U.S. Bancorp (NYSE:USB) Price Target to $56.00

U.S. Bancorp (NYSE:USB) had its target price upped by Morgan Stanley from $55.00 to $56.00 in a research report sent to investors on Thursday, BenzingaRatingsTable reports. The brokerage currently has an underweight rating on the financial services provider’s stock.

A number of other brokerages have also weighed in on USB. JPMorgan Chase & Co. started coverage on Pinduoduo in a research note on Tuesday, July 9th. They set an underweight rating and a $20.48 price target on the stock. Oppenheimer set a $15.00 price target on Strongbridge Biopharma and gave the stock a buy rating in a research note on Tuesday, March 26th. Bank of America increased their price target on Micron Technology from $45.00 to $60.00 and gave the stock an average rating in a research note on Thursday. Finally, Zacks Investment Research raised GreenTree Hospitality Group from a sell rating to a hold rating in a research note on Monday, April 15th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $56.63.

USB stock opened at $55.00 on Thursday. U.S. Bancorp has a 1 year low of $43.14 and a 1 year high of $55.56. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.86. The company has a 50 day moving average of $52.69. The stock has a market cap of $87.87 billion, a price-to-earnings ratio of 13.08, a P/E/G ratio of 1.85 and a beta of 1.06.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. U.S. Bancorp had a return on equity of 15.45% and a net margin of 26.70%. The company had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.73 billion. During the same quarter in the prior year, the company posted $1.02 EPS. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, analysts anticipate that U.S. Bancorp will post 4.27 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.69%. The ex-dividend date was Thursday, June 27th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 36.10%.

U.S. Bancorp declared that its Board of Directors has authorized a stock repurchase 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 purchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

In related news, Vice Chairman Gillern Jeffry H. Von sold 4,669 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $53.14, for a total value of $248,110.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Leslie V. Godridge sold 12,564 shares of the stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $51.53, for a total value of $647,422.92. Following the completion of the sale, the insider now owns 39,330 shares of the company’s stock, valued at $2,026,674.90. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Alpha Cubed Investments LLC increased its holdings in U.S. Bancorp by 9.5% in the 2nd quarter. Alpha Cubed Investments LLC now owns 10,328 shares of the financial services provider’s stock valued at $541,000 after purchasing an additional 892 shares in the last quarter. Cerebellum GP LLC increased its holdings in U.S. Bancorp by 1,371.9% in the 2nd quarter. Cerebellum GP LLC now owns 6,653 shares of the financial services provider’s stock valued at $349,000 after purchasing an additional 6,201 shares in the last quarter. SeaCrest Wealth Management LLC increased its holdings in U.S. Bancorp by 0.7% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 28,512 shares of the financial services provider’s stock valued at $1,494,000 after purchasing an additional 207 shares in the last quarter. Davy Asset Management Ltd acquired a new stake in U.S. Bancorp in the 2nd quarter valued at $4,123,000. Finally, FDx Advisors Inc. grew its stake in shares of U.S. Bancorp by 10.3% during the second quarter. FDx Advisors Inc. now owns 34,782 shares of the financial services provider’s stock valued at $1,823,000 after acquiring an additional 3,242 shares in the last quarter. Hedge funds and other institutional investors own 74.63% of the company’s stock.

About U.S. Bancorp

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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Analyst Recommendations for U.S. Bancorp (NYSE:USB)

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