Evercore ISI Boosts U.S. Bancorp (NYSE:USB) Price Target to $49.00

U.S. Bancorp (NYSE:USB - Free Report) had its target price raised by Evercore ISI from $44.00 to $49.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has an in-line rating on the financial services provider's stock.

Several other research analysts have also commented on USB. Bank of America lowered their price objective on shares of U.S. Bancorp from $50.00 to $49.00 and set a "buy" rating for the company in a research note on Monday, March 17th. Citigroup lowered their price objective on shares of U.S. Bancorp from $65.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, March 24th. Barclays lowered their price objective on shares of U.S. Bancorp from $61.00 to $56.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. DA Davidson lowered their price objective on shares of U.S. Bancorp from $54.00 to $49.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Finally, Raymond James reiterated an "outperform" rating and issued a $51.00 price target (down previously from $57.00) on shares of U.S. Bancorp in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $50.67.

U.S. Bancorp Trading Down 0.6%

USB stock traded down $0.26 during mid-day trading on Wednesday, hitting $43.64. 6,079,078 shares of the company were exchanged, compared to its average volume of 9,065,569. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $67.99 billion, a P/E ratio of 11.51, a PEG ratio of 1.73 and a beta of 0.99. The business has a fifty day simple moving average of $41.06 and a 200-day simple moving average of $45.49. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.06. The company had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.92 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. During the same quarter last year, the firm posted $0.78 earnings per share. On average, equities research analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.50 per share. The ex-dividend date was Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.58%. U.S. Bancorp's dividend payout ratio is presently 49.50%.

Insider Transactions at U.S. Bancorp

In related news, Director Aleem Gillani acquired 5,000 shares of U.S. Bancorp stock in a transaction dated Monday, April 21st. The stock was acquired at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the transaction, the director now owns 15,000 shares of the company's stock, valued at $559,800. This represents a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.23% of the company's stock.

Institutional Trading of U.S. Bancorp

Several institutional investors have recently modified their holdings of USB. J.Safra Asset Management Corp acquired a new position in shares of U.S. Bancorp in the 4th quarter valued at $26,000. Saudi Central Bank acquired a new position in shares of U.S. Bancorp in the 1st quarter valued at $26,000. Westend Capital Management LLC acquired a new position in shares of U.S. Bancorp in the 1st quarter valued at $27,000. FPC Investment Advisory Inc. acquired a new position in shares of U.S. Bancorp in the 4th quarter valued at $28,000. Finally, YANKCOM Partnership increased its holdings in shares of U.S. Bancorp by 59.4% in the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 260 shares during the period. 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.