U.S. Bancorp (NYSE:USB) Price Target Raised to $48.00 at Evercore ISI

U.S. Bancorp (NYSE:USB) had its price objective hoisted by Evercore ISI from $46.00 to $48.00 in a research report released on Thursday, Benzinga reports. Evercore ISI currently has an in-line rating on the financial services provider’s stock.

A number of other brokerages also recently issued reports on USB. HSBC upgraded U.S. Bancorp from a hold rating to a buy rating and increased their price objective for the stock from $47.00 to $53.00 in a research report on Thursday. Barclays lifted their price target on U.S. Bancorp from $48.00 to $56.00 and gave the company an overweight rating in a research report on Tuesday, January 2nd. Oppenheimer decreased their price objective on shares of U.S. Bancorp from $61.00 to $55.00 and set an outperform rating on the stock in a research report on Tuesday, March 19th. Odeon Capital Group raised shares of U.S. Bancorp from a hold rating to a buy rating and set a $48.93 target price on the stock in a research note on Thursday, December 14th. Finally, Wells Fargo & Company boosted their price target on shares of U.S. Bancorp from $43.00 to $50.00 and gave the stock an overweight rating in a research note on Thursday, December 14th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $46.41.

U.S. Bancorp Trading Up 1.6 %

Shares of USB opened at $44.69 on Thursday. The business has a 50-day moving average of $41.98 and a 200 day moving average of $38.84. The firm has a market cap of $69.63 billion, a P/E ratio of 13.63, a price-to-earnings-growth ratio of 2.24 and a beta of 1.04. U.S. Bancorp has a fifty-two week low of $27.27 and a fifty-two week high of $45.85. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.81 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.28. The firm had revenue of $6.76 billion for the quarter, compared to the consensus estimate of $6.85 billion. U.S. Bancorp had a net margin of 13.36% and a return on equity of 14.89%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.20 earnings per share. As a group, research analysts forecast that U.S. Bancorp will post 3.89 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be issued a dividend of $0.49 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.96 annualized dividend and a dividend yield of 4.39%. U.S. Bancorp’s dividend payout ratio (DPR) is 59.76%.

Insider Activity

In related news, insider Terrance R. Dolan sold 26,583 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the sale, the insider now owns 144,236 shares of the company’s stock, valued at $6,255,515.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Terrance R. Dolan sold 26,583 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the transaction, the insider now owns 144,236 shares of the company’s stock, valued at approximately $6,255,515.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP James L. Chosy sold 21,582 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $41.47, for a total transaction of $895,005.54. Following the transaction, the executive vice president now directly owns 164,880 shares in the company, valued at approximately $6,837,573.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,265 shares of company stock worth $2,535,903. 0.23% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of USB. Scotia Capital Inc. lifted its position in U.S. Bancorp by 2.9% during the third quarter. Scotia Capital Inc. now owns 35,012 shares of the financial services provider’s stock valued at $1,158,000 after purchasing an additional 990 shares during the period. National Bank of Canada FI boosted its stake in shares of U.S. Bancorp by 292.1% in the third quarter. National Bank of Canada FI now owns 1,386,413 shares of the financial services provider’s stock worth $44,555,000 after buying an additional 1,032,866 shares during the last quarter. Tealwood Asset Management Inc. raised its position in U.S. Bancorp by 33.4% during the fourth quarter. Tealwood Asset Management Inc. now owns 62,539 shares of the financial services provider’s stock valued at $2,707,000 after acquiring an additional 15,665 shares in the last quarter. Van ECK Associates Corp raised its position in U.S. Bancorp by 19.4% during the third quarter. Van ECK Associates Corp now owns 8,677,378 shares of the financial services provider’s stock valued at $286,874,000 after acquiring an additional 1,410,324 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in U.S. Bancorp by 104.3% in the fourth quarter. SG Americas Securities LLC now owns 105,090 shares of the financial services provider’s stock valued at $4,548,000 after acquiring an additional 53,653 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

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.