U.S. Bancorp (NYSE:USB) Research Coverage Started at Truist Financial

by · The Cerbat Gem

Truist Financial began coverage on shares of U.S. Bancorp (NYSE:USB – Free Report) in a research report released on Tuesday,Benzinga reports. The brokerage issued a hold rating and a $54.00 price objective on the financial services provider’s stock.

Several other equities analysts have also recently weighed in on USB. Stephens boosted their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Citigroup upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the stock from $49.00 to $65.00 in a report on Monday, November 25th. Royal Bank of Canada set a $53.00 price objective on U.S. Bancorp in a research report on Thursday, October 17th. Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a research report on Thursday, December 19th. Finally, Barclays increased their price target on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a report on Monday. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Hold” and an average target price of $54.07.

Get Our Latest Research Report on USB

U.S. Bancorp Stock Down 0.4 %

Shares of U.S. Bancorp stock opened at $48.50 on Tuesday. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The stock has a 50 day moving average price of $50.21 and a two-hundred day moving average price of $46.41. The stock has a market capitalization of $75.66 billion, a P/E ratio of 14.83, a PEG ratio of 3.01 and a beta of 1.05.

U.S. Bancorp (NYSE:USB – Get Free Report) last posted its quarterly earnings data 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 business had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. U.S. Bancorp’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.05 EPS. Equities analysts expect 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. 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 dividend yield of 4.12%. The ex-dividend date is Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is currently 61.16%.

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

Insider Buying and Selling

In other U.S. Bancorp 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 transaction of $1,225,750.00. Following the transaction, the insider now owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This represents a 16.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On U.S. Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Redwood Wealth Management Group LLC acquired a new stake in U.S. Bancorp in the second quarter worth about $25,000. Frazier Financial Advisors LLC grew its position in shares of U.S. Bancorp by 222.7% during the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after buying an additional 441 shares during the period. Global Wealth Strategies & Associates raised its stake in shares of 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 worth $29,000 after buying an additional 250 shares during the last quarter. Y.D. More Investments Ltd acquired a new position in U.S. Bancorp in the second quarter valued at approximately $33,000. Finally, Kimelman & Baird LLC bought a new position in U.S. Bancorp in the second quarter valued at approximately $40,000. Institutional investors own 77.60% of the company’s stock.

About U.S. Bancorp

(Get Free Report)

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.

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