U.S. Bancorp (NYSE:USB) Price Target Raised to $77.00

U.S. Bancorp (NYSE:USB) had its target price boosted by Oppenheimer from $73.00 to $77.00 in a research report released on Friday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the financial services provider’s stock.

A number of other brokerages have also commented on USB. Robert W. Baird increased their price objective on U.S. Bancorp from $64.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday. DA Davidson boosted their target price on U.S. Bancorp from $72.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday. Morgan Stanley upped their price target on U.S. Bancorp from $64.00 to $67.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Keefe, Bruyette & Woods raised their price target on U.S. Bancorp from $63.00 to $66.00 and gave the company a “market perform” rating in a report on Friday. Finally, JPMorgan Chase & Co. raised their price target on U.S. Bancorp from $57.50 to $65.00 and gave the company an “underweight” rating in a report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $66.52.

U.S. Bancorp Trading Down 0.0%

Shares of NYSE USB opened at $63.14 on Friday. U.S. Bancorp has a 1-year low of $43.46 and a 1-year high of $64.84. The company has a 50-day moving average of $57.89 and a two-hundred day moving average of $56.09. The company has a market cap of $97.93 billion, a PE ratio of 12.60, a P/E/G ratio of 1.07 and a beta of 0.96. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, beating the consensus estimate of $1.28 by $0.07. The business had revenue of $7.71 billion for the quarter, compared to analysts’ expectations of $7.58 billion. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. During the same period in the prior year, the firm earned $1.11 earnings per share. As a group, equities analysts expect that U.S. Bancorp will post 5.18 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio is presently 41.52%.

Insider Buying and Selling

In other news, insider Jodi L. Richard sold 40,000 shares of the company’s stock in a transaction that occurred 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 owned 207,251 shares in the company, valued at $11,813,307. This represents a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the sale, the executive vice president directly owned 51,292 shares of the company’s stock, valued at $2,847,731.84. This represents a 40.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On U.S. Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Clayton Financial Group LLC acquired a new position in U.S. Bancorp in the 4th quarter worth $25,000. Financial Life Planners bought a new position in U.S. Bancorp during the 1st quarter worth about $27,000. Main Street Group LTD acquired a new stake in shares of U.S. Bancorp in the 1st quarter valued at about $28,000. Rossby Financial LCC lifted its holdings in shares of U.S. Bancorp by 57.8% in the fourth quarter. Rossby Financial LCC now owns 579 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 212 shares in the last quarter. Finally, NFSG Corp bought a new stake in shares of U.S. Bancorp in the first quarter valued at about $31,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

More U.S. Bancorp News

Here are the key news stories impacting U.S. Bancorp this week:

• Positive Sentiment: U.S. Bancorp posted Q2 earnings of $1.35 per share on revenue of $7.71 billion, both above estimates, with record quarterly revenue driven by loan growth, fee income, and a boost from its BTIG acquisition. U.S. Bancorp Q2 Earnings Beat Estimates on NII & Fee Revenue Growth
• Positive Sentiment: Management raised full-year revenue guidance to a 7% to 9% growth range, signaling confidence that momentum from higher net interest income and fee revenue will continue. Is USB’s Stronger Outlook And BTIG Fee Push Altering The Investment Case For U.S. Bancorp (USB)?
• Positive Sentiment: Several firms lifted price targets after the earnings release, including Oppenheimer, Wells Fargo, Truist, RBC, and Baird, reflecting improved sentiment around USB’s outlook. US Bancorp analysts boost their forecasts after upbeat Q2 results

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.