U.S. Bancorp (NYSE:USB) Price Target Raised to $50.00 at Truist Financial

U.S. Bancorp (NYSE:USB - Free Report) had its price objective increased by Truist Financial from $48.00 to $50.00 in a report released on Wednesday morning,Benzinga reports. They currently have a hold rating on the financial services provider's stock.

Several other analysts have also recently weighed in on USB. Piper Sandler dropped their price objective on shares of U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Barclays decreased their target price on shares of U.S. Bancorp from $61.00 to $56.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Cowen began coverage on shares of U.S. Bancorp in a report on Wednesday, May 14th. They issued a "buy" rating on the stock. Wolfe Research raised shares of U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 target price on the stock in a report on Thursday, April 3rd. Finally, TD Cowen began coverage on shares of U.S. Bancorp in a report on Thursday, May 15th. They issued a "buy" rating and a $60.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, U.S. Bancorp currently has an average rating of "Moderate Buy" and an average price target of $51.70.

U.S. Bancorp Stock Performance

U.S. Bancorp stock traded down $0.57 during midday trading on Wednesday, hitting $47.00. The company's stock had a trading volume of 1,739,830 shares, compared to its average volume of 10,644,155. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.80 and a quick ratio of 0.80. The company has a 50-day moving average price of $44.27 and a two-hundred day moving average price of $44.40. The company has a market cap of $73.23 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 1.78 and a beta of 0.99.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings data 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. U.S. Bancorp had a net margin of 15.70% and a return on equity of 13.02%. The business had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $6.92 billion. During the same quarter in the previous year, the company earned $0.78 EPS. As a group, sell-side analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date of this dividend is Monday, June 30th. U.S. Bancorp's payout ratio is 49.50%.

Insiders Place Their Bets

In other U.S. Bancorp news, Director Aleem Gillani bought 5,000 shares of U.S. Bancorp stock in a transaction on Monday, April 21st. The shares were purchased at an average cost of $37.32 per share, with a total value of $186,600.00. Following the acquisition, the director directly owned 15,000 shares of the company's stock, valued at $559,800. The trade was a 50.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is owned by insiders.

Institutional Investors Weigh In On U.S. Bancorp

A number of institutional investors have recently modified their holdings of USB. Saudi Central Bank bought a new position in U.S. Bancorp during the first quarter worth $26,000. Westend Capital Management LLC purchased a new stake in shares of U.S. Bancorp in the first quarter valued at about $27,000. YANKCOM Partnership raised its holdings in shares of U.S. Bancorp by 59.4% in the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 260 shares during the last quarter. Picton Mahoney Asset Management purchased a new stake in shares of U.S. Bancorp in the fourth quarter valued at about $30,000. Finally, Alpine Bank Wealth Management purchased a new stake in shares of U.S. Bancorp in the first quarter valued at about $30,000. 77.60% of the stock is owned by institutional investors.

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.