Brokerages Set U.S. Bancorp (USB) Price Target at $59.44
U.S. Bancorp (NYSE:USB) has been assigned an average recommendation of “Hold” from the twenty-two brokerages that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $59.44.
Several analysts have issued reports on USB shares. Zacks Investment Research upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Friday, October 12th. ValuEngine upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, August 22nd. UBS Group set a $56.00 price objective on U.S. Bancorp and gave the company a “hold” rating in a research note on Monday, October 22nd. Citigroup cut U.S. Bancorp from a “buy” rating to a “neutral” rating in a research note on Friday, November 2nd. Finally, Oppenheimer upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $62.00 price objective on the stock in a research note on Thursday, October 18th.
In other news, Vice Chairman Gillern Jeffry H. Von sold 17,508 shares of the stock in a transaction that occurred on Wednesday, October 24th. The stock was sold at an average price of $50.81, for a total transaction of $889,581.48. Following the sale, the insider now directly owns 121,137 shares in the company, valued at approximately $6,154,970.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Andrew Cecere sold 183,374 shares of the stock in a transaction that occurred on Thursday, November 8th. The stock was sold at an average price of $52.95, for a total value of $9,709,653.30. Following the sale, the chairman now owns 892,517 shares in the company, valued at $47,258,775.15. The disclosure for this sale can be found here. Insiders have sold a total of 216,406 shares of company stock worth $11,420,610 over the last quarter. Insiders own 0.43% of the company’s stock.
USB traded up $0.22 on Monday, reaching $53.15. The company’s stock had a trading volume of 5,530,106 shares, compared to its average volume of 9,324,012. The company has a market capitalization of $84.97 billion, a P/E ratio of 13.45, a P/E/G ratio of 1.71 and a beta of 0.91. U.S. Bancorp has a 1 year low of $48.49 and a 1 year high of $58.50. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.84 and a current ratio of 0.85.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, October 17th. The financial services provider reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.02. U.S. Bancorp had a return on equity of 15.14% and a net margin of 27.53%. The firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter in the prior year, the business posted $0.88 earnings per share. U.S. Bancorp’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, equities research analysts forecast that U.S. Bancorp will post 4.1 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.78%. This is a boost 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%.
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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