U.S. Bancorp (NYSE:USB) Now Covered by Analysts at Truist Financial

Truist Financial assumed coverage on shares of U.S. Bancorp (NYSE:USB) in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage issued a hold rating and a $54.00 price objective on the financial services provider’s stock.

A number of other equities research analysts have also weighed in on the stock. Evercore ISI increased their price target on U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Raymond James raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target for the company. in a research note on Thursday, October 24th. The Goldman Sachs Group dropped their price objective on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Finally, Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $54.00 to $57.00 in a report on Monday, September 30th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Hold” and a consensus price target of $54.07.

U.S. Bancorp Trading Up 0.0 %

U.S. Bancorp stock opened at $48.74 on Tuesday. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98. The business’s fifty day moving average is $50.21 and its 200 day moving average is $46.38. The stock has a market capitalization of $76.04 billion, a PE ratio of 14.91, a price-to-earnings-growth ratio of 3.01 and a beta of 1.05. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The firm had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter last year, the firm posted $1.05 EPS. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, sell-side analysts predict that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend is Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 61.16%.

U.S. Bancorp announced that its Board of Directors has initiated a share repurchase 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 purchase up to 7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction dated 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 sale, the insider now directly owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On U.S. Bancorp

Institutional investors have recently added to or reduced their stakes in the company. Redwood Wealth Management Group LLC bought a new position in shares of U.S. Bancorp during the 2nd quarter valued at approximately $25,000. Frazier Financial Advisors LLC raised its stake in U.S. Bancorp by 222.7% during the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 441 shares in the last quarter. Global Wealth Strategies & Associates lifted its position in U.S. Bancorp by 70.8% during the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 250 shares during the last quarter. Y.D. More Investments Ltd purchased a new position in shares of U.S. Bancorp in the 2nd quarter worth $33,000. Finally, Kimelman & Baird LLC bought a new stake in shares of U.S. Bancorp in the 2nd quarter worth about $40,000. 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.