U.S. Bancorp (NYSE:USB) Price Target Increased to $54.00 by Analysts at DA Davidson

U.S. Bancorp (NYSE:USB) had its target price raised by DA Davidson from $49.00 to $54.00 in a research note released on Thursday, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Several other research firms also recently issued reports on USB. StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Stephens upped their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday. Jefferies Financial Group lowered their price target on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Oppenheimer upped their price target on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company an “outperform” rating in a report on Thursday. Finally, The Goldman Sachs Group lowered their target price on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, U.S. Bancorp presently has an average rating of “Hold” and an average target price of $50.34.

U.S. Bancorp Stock Performance

Shares of NYSE:USB opened at $49.98 on Thursday. The company has a market capitalization of $77.99 billion, a price-to-earnings ratio of 16.55, a price-to-earnings-growth ratio of 3.32 and a beta of 1.03. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $50.47. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. The firm has a 50 day moving average of $45.10 and a 200 day moving average of $42.63.

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

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.50 dividend. The ex-dividend date was Monday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a yield of 4.00%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 66.23%.

U.S. Bancorp declared that its Board of Directors has authorized a share buyback plan on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Trading of U.S. Bancorp

A number of hedge funds have recently bought and sold shares of USB. Marshall Wace LLP raised its holdings in 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 acquiring an additional 2,116,175 shares during the last quarter. National Bank of Canada FI raised its holdings in U.S. Bancorp by 313.8% in the 2nd quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock valued at $105,903,000 after acquiring an additional 2,046,522 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in U.S. Bancorp by 88.9% in the 1st quarter. BNP Paribas Financial Markets now owns 2,331,050 shares of the financial services provider’s stock valued at $104,198,000 after acquiring an additional 1,097,179 shares during the last quarter. Clearbridge Investments LLC raised its holdings in 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 acquiring an additional 967,143 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in 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 acquiring an additional 925,073 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

About U.S. Bancorp

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.