Truist Financial Issues Positive Forecast for U.S. Bancorp (NYSE:USB) Stock Price

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

Several other equities research analysts have also recently issued reports on the stock. TD Cowen assumed coverage on shares of U.S. Bancorp in a research report on Thursday, May 15th. They set a "buy" rating and a $60.00 price objective on the stock. Wall Street Zen downgraded shares of U.S. Bancorp from a "hold" rating to a "sell" rating in a report on Saturday, June 7th. Keefe, Bruyette & Woods dropped their price objective on shares of U.S. Bancorp from $54.00 to $49.00 and set a "market perform" rating for the company in a report on Thursday, April 17th. Oppenheimer lifted their target price on U.S. Bancorp from $57.00 to $59.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Finally, Morgan Stanley boosted their target price on U.S. Bancorp from $50.00 to $51.00 and gave the stock an "overweight" rating in a research report on Thursday, July 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.70.

U.S. Bancorp Stock Performance

USB stock traded up $0.34 on Wednesday, hitting $47.64. The company had a trading volume of 4,772,117 shares, compared to its average volume of 9,386,290. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98. The stock has a market cap of $74.23 billion, a price-to-earnings ratio of 11.80, a P/E/G ratio of 1.79 and a beta of 0.99. The stock's 50-day simple moving average is $44.13 and its 200 day simple moving average is $44.40.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly 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. 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 for the quarter, compared to analysts' expectations of $6.92 billion. During the same quarter last year, the company posted $0.78 EPS. As a group, equities research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

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 $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date is Monday, June 30th. U.S. Bancorp's dividend payout ratio (DPR) is currently 49.50%.

Insider Activity

In related news, Director Aleem Gillani purchased 5,000 shares of U.S. Bancorp stock in a transaction dated Monday, April 21st. The stock was bought at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the transaction, the director owned 15,000 shares in the company, valued at approximately $559,800. The trade was a 50.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On U.S. Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of U.S. Bancorp by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider's stock worth $5,962,742,000 after purchasing an additional 2,393,383 shares during the last quarter. FMR LLC raised its holdings in shares of U.S. Bancorp by 5.0% in the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock worth $3,210,624,000 after acquiring an additional 3,211,815 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of U.S. Bancorp by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 33,937,360 shares of the financial services provider's stock worth $1,618,948,000 after acquiring an additional 850,763 shares during the last quarter. Amundi lifted its position in shares of U.S. Bancorp by 2.2% in the first quarter. Amundi now owns 19,907,665 shares of the financial services provider's stock valued at $773,268,000 after acquiring an additional 422,050 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of U.S. Bancorp by 10.9% during the fourth quarter. Northern Trust Corp now owns 17,050,568 shares of the financial services provider's stock valued at $815,529,000 after acquiring an additional 1,670,305 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

U.S. Bancorp Company Profile

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.