U.S. Bancorp (NYSE:USB) Hits New 12-Month High – Time to Buy?

by · The Cerbat Gem

U.S. Bancorp (NYSE:USB – Get Free Report)’s share price reached a new 52-week high on Thursday . The stock traded as high as $51.94 and last traded at $51.92, with a volume of 1918462 shares changing hands. The stock had previously closed at $50.74.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Oppenheimer upped their target price on shares of U.S. Bancorp from $59.00 to $64.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $54.00 to $57.00 in a report on Monday, September 30th. Deutsche Bank Aktiengesellschaft lowered U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a research note on Thursday, October 24th. Robert W. Baird set a $54.00 price objective on shares of U.S. Bancorp in a report on Thursday, October 17th. Finally, DA Davidson increased their target price on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Hold” and a consensus target price of $51.22.

Check Out Our Latest Stock Report on U.S. Bancorp

U.S. Bancorp Trading Up 1.3 %

The stock has a fifty day moving average of $47.33 and a 200 day moving average of $43.91. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $80.17 billion, a P/E ratio of 15.83, a PEG ratio of 2.97 and a beta of 1.02.

U.S. Bancorp (NYSE:USB – Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $6.90 billion. During the same period in the previous year, the business earned $1.05 earnings per share. The business’s revenue was down 2.4% on a year-over-year basis. As a group, equities research analysts anticipate that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.89%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 61.16%.

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

Insider Buying and Selling at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction on 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 sale, the insider now owns 129,790 shares in the company, 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 is accessible through this hyperlink. Insiders own 0.23% of the company’s stock.

Institutional Trading of U.S. Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Natixis Advisors LLC raised its holdings 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 valued at $18,348,000 after acquiring an additional 56,990 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of U.S. Bancorp during the 2nd quarter worth approximately $20,188,000. Janus Henderson Group PLC increased its holdings in shares of U.S. Bancorp by 6.4% during the 1st quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock valued at $12,363,000 after purchasing an additional 16,686 shares in the last quarter. Comerica Bank lifted its stake in shares of U.S. Bancorp by 11.2% in the 1st quarter. Comerica Bank now owns 564,443 shares of the financial services provider’s stock valued at $25,231,000 after purchasing an additional 56,738 shares during the period. Finally, M&G Plc boosted its holdings in U.S. Bancorp by 73.9% during the second quarter. M&G Plc now owns 314,241 shares of the financial services provider’s stock worth $12,570,000 after buying an additional 133,498 shares in the last quarter. Hedge funds and other 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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