U.S. Bancorp (NYSE:USB) Given Average Recommendation of “Hold” by Analysts

U.S. Bancorp (NYSE:USB) has received an average rating of “Hold” from the eighteen ratings firms that are covering the company, MarketBeat Ratings reports. Ten analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $53.50.

A number of equities analysts have recently commented on the stock. Compass Point raised their target price on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. DA Davidson boosted their price objective on U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Barclays increased their target price on U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Finally, Piper Sandler increased their price objective on shares of U.S. Bancorp from $52.00 to $58.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock opened at $51.03 on Friday. The business’s fifty day moving average price is $49.79 and its 200 day moving average price is $45.22. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $79.61 billion, a P/E ratio of 15.61, a PEG ratio of 3.03 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last issued its 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. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The business had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter in the previous year, the business earned $1.05 EPS. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, research analysts anticipate that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 3.92%. U.S. Bancorp’s payout ratio is 61.16%.

U.S. Bancorp announced that its board has initiated a stock buyback plan on Thursday, September 12th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the transaction, the insider now directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On U.S. Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of USB. State Street Corp grew its holdings in shares of U.S. Bancorp by 1.2% during the third quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock valued at $3,110,115,000 after purchasing an additional 819,805 shares during the last quarter. FMR LLC boosted its position in U.S. Bancorp by 32.7% during the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after purchasing an additional 15,746,852 shares during the period. Charles Schwab Investment Management Inc. increased its position in U.S. Bancorp by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock worth $2,164,350,000 after buying an additional 1,796,336 shares during the period. Geode Capital Management LLC lifted its stake in U.S. Bancorp by 1.8% in the third quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock valued at $1,507,616,000 after buying an additional 599,852 shares during the last quarter. Finally, Davis Selected Advisers boosted its holdings in shares of U.S. Bancorp by 0.3% during the second quarter. Davis Selected Advisers now owns 14,228,444 shares of the financial services provider’s stock valued at $564,869,000 after acquiring an additional 43,437 shares during the period. 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.