U.S. Bancorp (NYSE:USB) Hits New 12-Month High – Should You Buy?

U.S. Bancorp (NYSE:USB) shares reached a new 52-week high during trading on Monday . The company traded as high as $55.57 and last traded at $55.6050, with a volume of 2079271 shares trading hands. The stock had previously closed at $53.93.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on USB shares. Evercore ISI set a $60.00 price target on U.S. Bancorp in a research note on Tuesday. Citigroup boosted their target price on shares of U.S. Bancorp from $65.00 to $70.00 and gave the company a “buy” rating in a report on Friday, October 17th. Cowen reiterated a “buy” rating on shares of U.S. Bancorp in a research note on Monday, October 20th. Deutsche Bank Aktiengesellschaft raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price target for the company in a research report on Thursday, October 23rd. Finally, Barclays boosted their price objective on shares of U.S. Bancorp from $56.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.74.

U.S. Bancorp Trading Up 1.0%

The stock’s 50 day moving average is $50.56 and its 200-day moving average is $48.34. The company has a market cap of $87.09 billion, a P/E ratio of 12.82, a PEG ratio of 0.97 and a beta of 1.07. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. The business had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.17 billion. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. U.S. Bancorp’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the business earned $1.03 EPS. Research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Wednesday, December 31st. U.S. Bancorp’s payout ratio is presently 47.60%.

Insider Activity at U.S. Bancorp

In related news, Chairman Andrew Cecere sold 140,445 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.34, for a total value of $6,508,221.30. Following the transaction, the chairman directly owned 1,360,414 shares of the company’s stock, valued at approximately $63,041,584.76. This represents a 9.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP James L. Chosy sold 26,909 shares of U.S. Bancorp stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.86, for a total value of $1,260,955.74. Following the completion of the sale, the executive vice president directly owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. The trade was a 10.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On U.S. Bancorp

Hedge funds have recently bought and sold shares of the business. IMG Wealth Management Inc. bought a new stake in shares of U.S. Bancorp in the second quarter worth approximately $25,000. Guerra Advisors Inc bought a new position in U.S. Bancorp during the third quarter valued at approximately $25,000. Financial Life Planners purchased a new stake in U.S. Bancorp in the third quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in U.S. Bancorp in the 3rd quarter worth approximately $26,000. Finally, Hillsdale Investment Management Inc. bought a new stake in U.S. Bancorp in the 2nd quarter worth approximately $27,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.