U.S. Bancorp (NYSE:USB) Reaches New 12-Month High - Time to Buy?

Key Points

• U.S. Bancorp reached a new 52-week high, trading as high as $66.07 before closing at $64.81. Its market capitalization is approximately $101 billion.
• Analysts maintain a “Moderate Buy” consensus, with 17 Buy or Strong Buy ratings and an average price target of $67.06; several firms recently raised their targets.
• The bank exceeded quarterly expectations, reporting $1.35 in EPS versus the $1.28 consensus and $7.69 billion in revenue. It also pays a quarterly dividend of $0.52, implying a 3.2% annual yield.

Shares of U.S. Bancorp (NYSE:USB - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $66.07 and last traded at $64.81, with a volume of 5602522 shares. The stock had previously closed at $65.42.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. DA Davidson raised their price target on shares of U.S. Bancorp from $72.00 to $74.00 and gave the company a "buy" rating in a research report on Friday, July 17th. JPMorgan Chase & Co. lifted their price target on shares of U.S. Bancorp from $67.50 to $69.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 29th. Royal Bank Of Canada raised their price target on U.S. Bancorp from $61.00 to $68.00 and gave the stock an "outperform" rating in a research note on Friday, July 17th. Keefe, Bruyette & Woods upped their price target on shares of U.S. Bancorp from $63.00 to $66.00 and gave the stock a "market perform" rating in a research note on Friday, July 17th. Finally, Morgan Stanley increased their price objective on shares of U.S. Bancorp from $64.00 to $67.00 and gave the company an "equal weight" rating in a research report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $67.06.

U.S. Bancorp Stock Down 0.9%

The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96. The company's 50 day moving average is $61.95 and its two-hundred day moving average is $57.45. The company has a market capitalization of $100.98 billion, a PE ratio of 12.94, a PEG ratio of 1.07 and a beta of 0.96.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, beating analysts' consensus estimates of $1.28 by $0.07. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.The company had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same period in the prior year, the company earned $1.11 earnings per share. On average, analysts anticipate that U.S. Bancorp will post 5.22 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Tuesday, June 30th. U.S. Bancorp's dividend payout ratio (DPR) is 41.52%.

Insider Transactions at U.S. Bancorp

In other news, insider Stephen L. Philipson sold 36,906 shares of the business's stock in a transaction on Monday, July 20th. The shares were sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the completion of the sale, the insider directly owned 74,969 shares of the company's stock, valued at approximately $4,729,044.52. The trade was a 32.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is currently owned by insiders.

Hedge Funds Weigh In On U.S. Bancorp

A number of large investors have recently bought and sold shares of USB. Financial Life Planners bought a new position in shares of U.S. Bancorp in the 1st quarter worth $27,000. Main Street Group LTD acquired a new stake in U.S. Bancorp in the 1st quarter worth approximately $28,000. JPL Wealth Management LLC purchased a new stake in shares of U.S. Bancorp during the third quarter valued at $28,000. Parvin Asset Management LLC acquired a new position in shares of U.S. Bancorp in the second quarter valued at about $30,000. Finally, Binnacle Investments Inc increased its holdings in U.S. Bancorp by 77.8% in the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider's stock worth $30,000 after buying an additional 273 shares during the period. Institutional investors own 77.60% of the company's stock.

About U.S. Bancorp

U.S. Bancorp NYSE: USB is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.

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