U.S. Bancorp (USB) Upgraded to “Outperform” at CIBC
A number of other research firms have also recently commented on USB. Zacks Investment Research cut U.S. Bancorp from a buy rating to a hold rating in a research note on Tuesday, September 25th. ValuEngine raised U.S. Bancorp from a sell rating to a hold rating in a research note on Wednesday, August 22nd. Macquarie raised U.S. Bancorp from a neutral rating to an outperform rating and increased their target price for the company from $56.00 to $62.00 in a research note on Wednesday, October 10th. Oppenheimer raised U.S. Bancorp from a market perform rating to an outperform rating and set a $62.00 target price on the stock in a research note on Thursday. Finally, UBS Group raised U.S. Bancorp from a market perform rating to an outperform rating in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. U.S. Bancorp has a consensus rating of Hold and an average target price of $59.58.
USB traded up $0.39 during trading on Thursday, reaching $52.52. The stock had a trading volume of 493,396 shares, compared to its average volume of 7,585,397. The stock has a market cap of $86.18 billion, a PE ratio of 15.23, a P/E/G ratio of 1.73 and a beta of 0.98. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.91. U.S. Bancorp has a one year low of $48.49 and a one year high of $58.50.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.82%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, September 27th. U.S. Bancorp’s dividend payout ratio is presently 43.27%.
In other U.S. Bancorp news, Vice Chairman John R. Elmore sold 58,924 shares of the company’s stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $51.71, for a total transaction of $3,046,960.04. Following the completion of the sale, the insider now directly owns 98,371 shares in the company, valued at $5,086,764.41. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.43% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of USB. Horan Capital Management purchased a new stake in shares of U.S. Bancorp during the second quarter worth about $109,000. Integrated Investment Consultants LLC purchased a new stake in shares of U.S. Bancorp during the second quarter worth about $135,000. Mount Yale Investment Advisors LLC purchased a new stake in shares of U.S. Bancorp during the first quarter worth about $141,000. Field & Main Bank boosted its holdings in shares of U.S. Bancorp by 49.9% during the second quarter. Field & Main Bank now owns 3,004 shares of the financial services provider’s stock worth $159,000 after purchasing an additional 1,000 shares during the period. Finally, NEXT Financial Group Inc purchased a new stake in shares of U.S. Bancorp during the third quarter worth about $181,000. Institutional investors and hedge funds own 74.41% 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. The company operates through 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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