U.S. Bancorp (NYSE:USB) Stock Price Crosses Above Fifty Day Moving Average - Here's What Happened

Key Points

• U.S. Bancorp shares crossed above their 50-day moving average, reaching $60.99 and last trading near $60.66, compared with a 50-day average of $59.93.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and an average price target of $69.19, although recent targets ranged from $64 to $75.
• The company reported quarterly EPS of $1.34, beating estimates, while revenue rose 8.7% year over year to $8.04 billion; it also increased its quarterly dividend to $0.54 per share, implying a 3.6% yield.

U.S. Bancorp (NYSE:USB - Get Free Report)'s stock price crossed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $59.93 and traded as high as $60.99. U.S. Bancorp shares last traded at $60.6590, with a volume of 5,826,892 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. UBS Group lowered their price objective on U.S. Bancorp from $66.00 to $64.00 and set a "neutral" rating on the stock in a report on Monday, October 5th. Barclays boosted their price target on U.S. Bancorp from $67.00 to $75.00 and gave the stock an "overweight" rating in a research report on Friday, July 17th. Oppenheimer increased their price objective on U.S. Bancorp from $72.00 to $73.00 and gave the company an "outperform" rating in a research note on Friday, October 16th. BTIG Research set a $67.50 target price on shares of U.S. Bancorp in a research note on Monday, July 20th. Finally, Citigroup dropped their target price on shares of U.S. Bancorp from $72.00 to $70.00 and set a "buy" rating for the company in a report on Friday, October 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $69.19.

U.S. Bancorp Price Performance

The company has a debt-to-equity ratio of 0.87, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a 50 day simple moving average of $59.93 and a two-hundred day simple moving average of $58.00. The company has a market cap of $94.51 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 1.14 and a beta of 1.00.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its earnings results on Thursday, October 15th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.32 by $0.02. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. The business had revenue of $8.04 billion during the quarter, compared to the consensus estimate of $8 billion. During the same period last year, the company earned $1.22 EPS. The company's revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities research analysts predict that U.S. Bancorp will post 5.29 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Wednesday, September 30th. This is a positive change from U.S. Bancorp's previous quarterly dividend of $0.52. U.S. Bancorp's dividend payout ratio is 42.11%.

Insider Activity

In related news, CEO Gunjan Kedia sold 27,267 shares of the business's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $62.37, for a total value of $1,700,642.79. Following the sale, the chief executive officer directly owned 426,262 shares in the company, valued at approximately $26,585,960.94. The trade was a 6.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.21% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Mufg Bank LTD. acquired a new position in shares of U.S. Bancorp in the second quarter valued at approximately $2,680,199,000. Bank of America Corp DE raised its holdings in shares of U.S. Bancorp by 6.9% in the 1st quarter. Bank of America Corp DE now owns 15,820,033 shares of the financial services provider's stock valued at $822,800,000 after purchasing an additional 1,022,898 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of U.S. Bancorp by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider's stock worth $539,232,000 after purchasing an additional 93,025 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of U.S. Bancorp during the 2nd quarter worth $536,457,000. Finally, First Trust Advisors LP grew its stake in shares of U.S. Bancorp by 39.9% during the first quarter. First Trust Advisors LP now owns 8,118,845 shares of the financial services provider's stock worth $422,261,000 after purchasing an additional 2,314,081 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

About U.S. Bancorp

U.S. Bancorp NYSE: USB is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. U.S. Bank provides banking, lending, payment, investment and wealth-management services to individuals, businesses, institutions and government entities.

The company's consumer and business banking operations offer deposit accounts, mortgages, home-equity and consumer loans, credit cards, small-business banking and commercial lending.

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