U.S. Bancorp (NYSE:USB) Price Target Raised to $59.00

U.S. Bancorp (NYSE:USB - Free Report) had its price target increased by Citigroup from $55.00 to $59.00 in a research note released on Wednesday morning,Benzinga reports. Citigroup currently has a buy rating on the financial services provider's stock.

Other analysts have also issued research reports about the stock. Royal Bank Of Canada cut their target price on shares of U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Cowen assumed coverage on U.S. Bancorp in a report on Wednesday, May 14th. They set a "buy" rating on the stock. Morgan Stanley reduced their price objective on U.S. Bancorp from $51.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Piper Sandler dropped their target price on U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Finally, TD Cowen started coverage on U.S. Bancorp in a research note on Thursday, May 15th. They set a "buy" rating and a $60.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, U.S. Bancorp has an average rating of "Moderate Buy" and a consensus target price of $50.93.

U.S. Bancorp Price Performance

Shares of USB stock traded up $0.24 on Wednesday, hitting $47.73. 7,034,930 shares of the company's stock were exchanged, compared to its average volume of 9,309,018. The company has a 50 day moving average of $43.39 and a 200 day moving average of $44.45. The stock has a market cap of $74.36 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 1.75 and a beta of 0.99. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.80 and a quick ratio of 0.80. 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 posted its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $6.92 billion. During the same quarter in the prior year, the business earned $0.78 earnings per share. On average, equities research analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.19%. U.S. Bancorp's payout ratio is currently 49.50%.

Insider Activity

In other U.S. Bancorp news, Director Aleem Gillani bought 5,000 shares of the business's stock in a transaction that occurred on Monday, April 21st. The shares were bought at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the transaction, the director directly owned 15,000 shares in the company, valued at approximately $559,800. This trade represents a 50.00% increase in their ownership of the stock. The purchase 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 corporate insiders.

Hedge Funds Weigh In On U.S. Bancorp

Institutional investors have recently added to or reduced their stakes in the business. J.Safra Asset Management Corp bought a new stake in shares of U.S. Bancorp in the 4th quarter valued at $26,000. Saudi Central Bank acquired a new stake in U.S. Bancorp in the first quarter worth $26,000. Westend Capital Management LLC bought a new stake in U.S. Bancorp in the first quarter valued at $27,000. YANKCOM Partnership boosted its position in shares of U.S. Bancorp by 59.4% during the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock worth $29,000 after purchasing an additional 260 shares in the last quarter. Finally, Picton Mahoney Asset Management acquired a new stake in shares of U.S. Bancorp in the 4th quarter valued at about $30,000. 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.