U.S. Bancorp (NYSE:USB) Receives $53.50 Average Target Price from Analysts

U.S. Bancorp (NYSE:USB) has been assigned an average recommendation of “Hold” from the eighteen ratings firms that are covering the stock, MarketBeat.com reports. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $53.50.

USB has been the subject of several research analyst reports. Oppenheimer increased their price objective on U.S. Bancorp from $59.00 to $64.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Wells Fargo & Company upped their price target on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Robert W. Baird set a $54.00 price objective on shares of U.S. Bancorp in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a report on Thursday, October 24th. Finally, Barclays boosted their price target on U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th.

U.S. Bancorp Trading Down 2.7 %

Shares of U.S. Bancorp stock opened at $49.96 on Friday. The firm has a market cap of $77.94 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 3.03 and a beta of 1.03. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98. The company’s 50-day simple moving average is $50.04 and its 200-day simple moving average is $45.41. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.04. The company had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.05 EPS. As a group, equities research analysts anticipate that U.S. Bancorp will post 3.93 earnings per share for the current year.

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

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date is Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio is presently 61.16%.

Insiders Place Their Bets

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

Institutional Trading of U.S. Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in USB. Natixis Advisors LLC boosted its position in shares of U.S. Bancorp by 16.6% in the third quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock worth $18,348,000 after acquiring an additional 56,990 shares during the last quarter. M&T Bank Corp raised its stake in U.S. Bancorp by 2.8% during the third quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock worth $38,704,000 after purchasing an additional 22,803 shares during the period. Hilltop Holdings Inc. boosted its holdings in shares of U.S. Bancorp by 184.3% in the 3rd quarter. Hilltop Holdings Inc. now owns 70,283 shares of the financial services provider’s stock valued at $3,214,000 after purchasing an additional 45,560 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of U.S. Bancorp by 544.1% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 13,894 shares of the financial services provider’s stock valued at $635,000 after buying an additional 11,737 shares during the period. Finally, Summit Financial Wealth Advisors LLC acquired a new stake in shares of U.S. Bancorp during the 3rd quarter worth $4,505,000. Hedge funds and other institutional investors 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.