U.S. Bancorp (NYSE:USB) Reaches New 12-Month High After Analyst Upgrade

U.S. Bancorp (NYSE:USB) shares reached a new 52-week high on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $57.50 to $65.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. U.S. Bancorp traded as high as $63.05 and last traded at $62.83, with a volume of 8536110 shares trading hands. The stock had previously closed at $61.73.

A number of other equities research analysts have also recently commented on the stock. Barclays lifted their price target on shares of U.S. Bancorp from $65.00 to $67.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Jefferies Financial Group raised U.S. Bancorp from a “hold” rating to a “buy” rating and raised their target price for the stock from $60.00 to $75.00 in a research report on Monday. Wells Fargo & Company upped their price target on U.S. Bancorp from $62.00 to $66.00 and gave the company an “overweight” rating in a research report on Monday. Truist Financial increased their price target on U.S. Bancorp from $62.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday, June 26th. Finally, Wall Street Zen raised U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Monday. Fifteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.62.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the sale, the insider owned 207,251 shares in the company, valued at $11,813,307. This represents a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Venkatachari Dilip sold 34,522 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the transaction, the executive vice president directly owned 51,292 shares of the company’s stock, valued at $2,847,731.84. The trade was a 40.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.

Key U.S. Bancorp News

Here are the key news stories impacting U.S. Bancorp this week:

• Positive Sentiment: Jefferies upgraded U.S. Bancorp (USB) to buy and boosted its price target to $75, signaling confidence in earnings leverage and fee income growth.
• Positive Sentiment: Wells Fargo raised its price target to $66 and reiterated an overweight rating, reinforcing a constructive outlook for the stock.
• Positive Sentiment: Analysts are also pointing to a strong second-quarter earnings outlook, which could support further upside if results meet expectations. Article Title
• Neutral Sentiment: JPMorgan increased its target to $65 but kept an underweight rating, suggesting valuation upside may be limited despite the higher target.
• Neutral Sentiment: Wall Street Zen also upgraded the stock, adding to the general analyst support, though no target was provided.

Institutional Investors Weigh In On U.S. Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dogwood Wealth Management LLC lifted its stake in U.S. Bancorp by 32.9% in the 2nd quarter. Dogwood Wealth Management LLC now owns 687 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 170 shares in the last quarter. Paulson Wealth Management Inc. grew its position in shares of U.S. Bancorp by 2.0% during the 4th quarter. Paulson Wealth Management Inc. now owns 8,780 shares of the financial services provider’s stock valued at $469,000 after purchasing an additional 173 shares in the last quarter. Gilbert & Cook Inc. increased its holdings in shares of U.S. Bancorp by 1.2% in the fourth quarter. Gilbert & Cook Inc. now owns 15,590 shares of the financial services provider’s stock worth $832,000 after purchasing an additional 184 shares during the period. Flputnam Investment Management Co. increased its holdings in shares of U.S. Bancorp by 1.4% in the fourth quarter. Flputnam Investment Management Co. now owns 13,721 shares of the financial services provider’s stock worth $732,000 after purchasing an additional 186 shares during the period. Finally, Formidable Asset Management LLC raised its position in shares of U.S. Bancorp by 0.8% in the first quarter. Formidable Asset Management LLC now owns 23,373 shares of the financial services provider’s stock worth $1,247,000 after buying an additional 186 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Stock Up 1.8%

The company has a market cap of $97.46 billion, a PE ratio of 13.17, a P/E/G ratio of 1.07 and a beta of 0.96. The stock has a 50-day moving average of $56.57 and a 200-day moving average of $55.51. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, topping the consensus estimate of $1.14 by $0.04. The business had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.03 earnings per share. Sell-side analysts predict that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.52 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a yield of 3.3%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 43.61%.

U.S. Bancorp Company Profile

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.