U.S. Bancorp (NYSE:USB) Given New $57.00 Price Target at Barclays

U.S. Bancorp (NYSE:USB) had its price target increased by Barclays from $52.00 to $57.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Several other equities analysts have also commented on the company. Oppenheimer upped their price target on U.S. Bancorp from $57.00 to $59.00 and gave the company an “outperform” rating in a research note on Thursday. StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Wells Fargo & Company upped their price objective on shares of U.S. Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Citigroup increased their price objective on shares of U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Finally, UBS Group upped their price target on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, U.S. Bancorp has an average rating of “Hold” and a consensus target price of $50.34.

U.S. Bancorp Price Performance

USB stock opened at $49.98 on Thursday. U.S. Bancorp has a 1 year low of $30.47 and a 1 year high of $50.47. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. The firm has a market capitalization of $77.99 billion, a PE ratio of 16.55, a price-to-earnings-growth ratio of 3.32 and a beta of 1.03. The business has a 50 day simple moving average of $45.10 and a 200-day simple moving average of $42.63.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.99 by $0.04. The business had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.05 EPS. Equities research analysts anticipate that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s payout ratio is 66.23%.

U.S. Bancorp announced that its board has authorized a share buyback plan on Thursday, September 12th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On U.S. Bancorp

Institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP boosted its holdings in shares of U.S. Bancorp by 1,438.4% in the 2nd quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider’s stock valued at $89,853,000 after buying an additional 2,116,175 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of U.S. Bancorp by 313.8% during the second quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock worth $105,903,000 after purchasing an additional 2,046,522 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of U.S. Bancorp by 88.9% during the first quarter. BNP Paribas Financial Markets now owns 2,331,050 shares of the financial services provider’s stock worth $104,198,000 after purchasing an additional 1,097,179 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of U.S. Bancorp by 16.2% in the 1st quarter. Clearbridge Investments LLC now owns 6,941,466 shares of the financial services provider’s stock valued at $310,284,000 after purchasing an additional 967,143 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of U.S. Bancorp by 15.6% in the 2nd quarter. American Century Companies Inc. now owns 6,846,497 shares of the financial services provider’s stock valued at $271,806,000 after purchasing an additional 925,073 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.