U.S. Bancorp (NYSE:USB) Sets New 52-Week High on Analyst Upgrade
U.S. Bancorp (NYSE:USB) reached a new 52-week high on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $60.00 to $64.50. JPMorgan Chase & Co. currently has an overweight rating on the stock. U.S. Bancorp traded as high as $60.66 and last traded at $60.60, with a volume of 7497167 shares trading hands. The stock had previously closed at $59.29.
Several other equities analysts have also weighed in on USB. Odeon Capital Group upgraded U.S. Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, March 24th. Stephens lifted their price target on U.S. Bancorp from $52.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, March 30th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on U.S. Bancorp from $63.00 to $65.00 in a research note on Wednesday, April 21st. Robert W. Baird restated a “neutral” rating and issued a $55.00 price target on shares of U.S. Bancorp in a research note on Thursday, March 25th. Finally, Credit Suisse Group lifted their price target on U.S. Bancorp from $56.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, April 22nd. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. U.S. Bancorp has a consensus rating of “Buy” and an average price target of $56.15.
In related news, CFO Terrance R. Dolan sold 19,149 shares of the company’s stock in a transaction that occurred on Friday, April 30th. The stock was sold at an average price of $59.11, for a total value of $1,131,897.39. Following the transaction, the chief financial officer now directly owns 138,374 shares in the company, valued at $8,179,287.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gunjan Kedia sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 21st. The shares were sold at an average price of $56.94, for a total value of $1,138,800.00. Following the completion of the transaction, the insider now owns 84,526 shares in the company, valued at $4,812,910.44. The disclosure for this sale can be found here. Insiders sold 251,779 shares of company stock worth $14,319,060 over the last quarter. 0.23% of the stock is currently owned by insiders.
The business has a 50-day moving average price of $56.60 and a two-hundred day moving average price of $48.52. The company has a quick ratio of 0.80, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. The firm has a market cap of $91.06 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 2.26 and a beta of 1.09.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, April 14th. The financial services provider reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.49. U.S. Bancorp had a return on equity of 10.99% and a net margin of 18.68%. The business had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.53 billion. During the same quarter in the prior year, the company earned $0.72 earnings per share. The company’s revenue was down 5.2% on a year-over-year basis. On average, equities research analysts predict that U.S. Bancorp will post 3.06 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 15th. Stockholders of record on Wednesday, March 31st were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date was Tuesday, March 30th. U.S. Bancorp’s dividend payout ratio is currently 38.71%.
U.S. Bancorp Company Profile (NYSE:USB)
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments. The company offers depository services, including checking accounts, savings accounts, and time certificate contracts; lending services, such as traditional credit products; and credit card services, lease financing and import/export trade, asset-backed lending, agricultural finance, and other products.
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