U.S. Bancorp (NYSE:USB) Upgraded by Raymond James Financial to "Strong-Buy" Rating

Raymond James Financial upgraded shares of U.S. Bancorp (NYSE:USB - Free Report) from an outperform rating to a strong-buy rating in a research note issued to investors on Monday, Marketbeat Ratings reports. Raymond James Financial currently has $57.00 target price on the financial services provider's stock, up from their previous target price of $51.00.

A number of other research analysts have also recently commented on the company. JPMorgan Chase & Co. restated an "underweight" rating and set a $43.50 price objective (down previously from $51.00) on shares of U.S. Bancorp in a research note on Thursday, April 3rd. Evercore ISI boosted their price objective on U.S. Bancorp from $44.00 to $49.00 and gave the stock an "in-line" rating in a research note on Wednesday, June 4th. Cowen started coverage on U.S. Bancorp in a research note on Wednesday, May 14th. They set a "buy" rating on the stock. Wall Street Zen cut U.S. Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, June 7th. Finally, Piper Sandler reduced their price objective on U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $51.61.

U.S. Bancorp Trading Down 0.3%

U.S. Bancorp stock traded down $0.15 during midday trading on Monday, reaching $47.78. The stock had a trading volume of 14,353,635 shares, compared to its average volume of 9,366,184. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The stock has a market capitalization of $74.44 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 1.80 and a beta of 0.99. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.80. The stock's 50-day simple moving average is $43.70 and its 200 day simple moving average is $44.36.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.97 by $0.06. U.S. Bancorp had a return on equity of 13.02% and a net margin of 15.70%. The firm had revenue of $6.96 billion for the quarter, compared to analysts' expectations of $6.92 billion. During the same quarter last year, the firm earned $0.78 earnings per share. Analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.19%. The ex-dividend date is Monday, June 30th. U.S. Bancorp's dividend payout ratio is currently 49.50%.

Insiders Place Their Bets

In related news, Director Aleem Gillani bought 5,000 shares of the stock in a transaction dated Monday, April 21st. The stock was bought at an average cost of $37.32 per share, with a total value of $186,600.00. Following the completion of the acquisition, the director owned 15,000 shares of the company's stock, valued at $559,800. This trade represents a 50.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On U.S. Bancorp

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of U.S. Bancorp by 1.7% during the first quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider's stock valued at $5,962,742,000 after purchasing an additional 2,393,383 shares during the last quarter. FMR LLC boosted its position in shares of U.S. Bancorp by 5.0% during the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock worth $3,210,624,000 after buying an additional 3,211,815 shares during the period. Geode Capital Management LLC boosted its position in shares of U.S. Bancorp by 2.6% during 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 buying an additional 850,763 shares during the period. Amundi boosted its position in shares of U.S. Bancorp by 2.2% during the first quarter. Amundi now owns 19,907,665 shares of the financial services provider's stock worth $773,268,000 after buying an additional 422,050 shares during the period. Finally, Northern Trust Corp boosted its position 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 worth $815,529,000 after buying an additional 1,670,305 shares during the period. 77.60% of the stock is owned by institutional investors.

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.