Keefe, Bruyette & Woods Issues Positive Forecast for U.S. Bancorp (NYSE:USB) Stock Price

U.S. Bancorp (NYSE:USB) had its price target hoisted by Keefe, Bruyette & Woods from $63.00 to $66.00 in a research note published on Friday,Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Other analysts have also recently issued reports about the company. Wells Fargo & Company boosted their price target on U.S. Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday. DA Davidson boosted their price objective on shares of U.S. Bancorp from $72.00 to $74.00 and gave the company a “buy” rating in a report on Friday. Truist Financial raised their target price on U.S. Bancorp from $66.00 to $69.00 and gave the stock a “buy” rating in a research report on Friday. Robert W. Baird boosted their price objective on shares of U.S. Bancorp from $64.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday. Finally, UBS Group increased their target price on shares of U.S. Bancorp from $58.00 to $66.00 and gave the stock a “neutral” rating in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, U.S. Bancorp currently has an average rating of “Moderate Buy” and an average target price of $66.52.

U.S. Bancorp Stock Down 1.4%

Shares of NYSE USB opened at $63.14 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.81 and a debt-to-equity ratio of 0.96. U.S. Bancorp has a 12 month low of $43.46 and a 12 month high of $64.84. The firm has a fifty day simple moving average of $57.89 and a two-hundred day simple moving average of $56.08. The firm has a market capitalization of $97.93 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 1.10 and a beta of 0.96.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $7.71 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same quarter in the prior year, the company earned $1.11 EPS. Equities analysts expect that U.S. Bancorp will post 5.12 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.52 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a yield of 3.3%. U.S. Bancorp’s payout ratio is currently 43.61%.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the transaction, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jodi L. Richard sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the sale, the insider owned 207,251 shares of the company’s stock, valued at $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by company insiders.

Institutional Trading of U.S. Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in U.S. Bancorp during the fourth quarter worth about $1,887,497,000. Auto Owners Insurance Co grew its holdings in shares of U.S. Bancorp by 5,236.0% in the 4th quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock worth $1,779,556,000 after acquiring an additional 32,725,000 shares during the last quarter. Capital Research Global Investors purchased a new stake in shares of U.S. Bancorp in the 4th quarter valued at approximately $296,377,000. SG Americas Securities LLC boosted its position in U.S. Bancorp by 3,451.9% during the 4th quarter. SG Americas Securities LLC now owns 4,332,659 shares of the financial services provider’s stock worth $231,191,000 after acquiring an additional 4,210,676 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in U.S. Bancorp by 20.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 24,919,079 shares of the financial services provider’s stock valued at $1,329,683,000 after acquiring an additional 4,153,080 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp News Roundup

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

• Positive Sentiment: U.S. Bancorp posted Q2 earnings of $1.35 per share on revenue of $7.71 billion, both above estimates, with record quarterly revenue driven by loan growth, fee income, and a boost from its BTIG acquisition. U.S. Bancorp Q2 Earnings Beat Estimates on NII & Fee Revenue Growth
• Positive Sentiment: Management raised full-year revenue guidance to a 7% to 9% growth range, signaling confidence that momentum from higher net interest income and fee revenue will continue. Is USB’s Stronger Outlook And BTIG Fee Push Altering The Investment Case For U.S. Bancorp (USB)?
• Positive Sentiment: Several firms lifted price targets after the earnings release, including Oppenheimer, Wells Fargo, Truist, RBC, and Baird, reflecting improved sentiment around USB’s outlook. US Bancorp analysts boost their forecasts after upbeat Q2 results

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.