U.S. Bancorp (NYSE:USB) Hits New 1-Year High – What’s Next?

Shares of U.S. Bancorp (NYSE:USB) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $62.15 and last traded at $62.1550, with a volume of 3417110 shares trading hands. The stock had previously closed at $60.40.

Analyst Ratings Changes

A number of brokerages have recently issued reports on USB. Oppenheimer lowered their price objective on U.S. Bancorp from $74.00 to $73.00 and set an “outperform” rating for the company in a research report on Tuesday. Morgan Stanley raised their price objective on shares of U.S. Bancorp from $64.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Monday. Truist Financial boosted their target price on U.S. Bancorp from $62.00 to $66.00 and gave the company a “buy” rating in a research report on Friday, June 26th. DA Davidson reissued a “buy” rating and issued a $65.00 price objective on shares of U.S. Bancorp in a research note on Friday, April 17th. Finally, Weiss Ratings upgraded shares of U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $61.57.

U.S. Bancorp Stock Down 0.5%

The stock’s 50-day moving average price is $56.47 and its two-hundred day moving average price is $55.46. The stock has a market capitalization of $95.67 billion, a P/E ratio of 12.93, a P/E/G ratio of 1.07 and a beta of 0.96. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.04. The firm had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The business’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.03 earnings per share. As a group, research analysts expect that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Tuesday, June 30th. U.S. Bancorp’s payout ratio is presently 43.61%.

Insider Activity

In other U.S. Bancorp news, insider Jodi L. Richard sold 40,000 shares of the firm’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the transaction, the insider directly owned 207,251 shares of the company’s stock, valued at $11,813,307. This trade represents a 16.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Venkatachari Dilip sold 34,522 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the transaction, the executive vice president owned 51,292 shares of the company’s stock, valued at $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On U.S. Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Clayton Financial Group LLC bought a new position in U.S. Bancorp in the 4th quarter worth about $25,000. Financial Life Planners bought a new stake in shares of U.S. Bancorp during the 3rd quarter valued at about $25,000. Main Street Group LTD purchased a new position in shares of U.S. Bancorp during the first quarter worth about $28,000. Rossby Financial LCC grew its holdings in shares of U.S. Bancorp by 57.8% during the fourth quarter. Rossby Financial LCC now owns 579 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 212 shares in the last quarter. Finally, NFSG Corp bought a new position in shares of U.S. Bancorp in the first quarter worth approximately $31,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Company Profile

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.