U.S. Bancorp (NYSE:USB) Price Target Raised to $66.00 at Wells Fargo & Company

U.S. Bancorp (NYSE:USB) had its price target increased by Wells Fargo & Company from $62.00 to $66.00 in a report published on Monday, Marketbeat Ratings reports. Wells Fargo & Company currently has an overweight rating on the financial services provider’s stock.

A number of other equities analysts also recently issued reports on the stock. Jefferies Financial Group reissued a “hold” rating and issued a $60.00 price target on shares of U.S. Bancorp in a research note on Thursday, April 16th. Oppenheimer reduced their target price on U.S. Bancorp from $74.00 to $73.00 and set an “outperform” rating on the stock in a report on Tuesday, June 30th. JPMorgan Chase & Co. decreased their target price on U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating for the company in a research report on Thursday, April 30th. DA Davidson restated a “buy” rating and issued a $65.00 target price on shares of U.S. Bancorp in a research note on Friday, April 17th. Finally, Royal Bank Of Canada lifted their price target on U.S. Bancorp from $59.00 to $61.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. Fifteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $63.92.

U.S. Bancorp Stock Performance

NYSE:USB opened at $63.17 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. The firm’s fifty day simple moving average is $56.57 and its 200 day simple moving average is $55.51. The stock has a market cap of $97.99 billion, a P/E ratio of 13.26, a price-to-earnings-growth ratio of 1.07 and a beta of 0.96. U.S. Bancorp has a twelve month low of $43.46 and a twelve month high of $63.19.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data 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. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The business had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.27 billion. During the same period in the prior year, the business earned $1.03 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, research analysts predict that U.S. Bancorp will post 5.09 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio is currently 43.61%.

Insiders Place Their Bets

In other news, 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 transaction of $1,916,661.44. Following the completion of the transaction, the executive vice president directly owned 51,292 shares in the company, valued at $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of U.S. Bancorp stock in a transaction dated 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 completion of the transaction, the insider directly owned 207,251 shares of the company’s stock, valued at approximately $11,813,307. This represents a 16.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On U.S. Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in USB. Inceptionr LLC lifted its position in U.S. Bancorp by 424.4% during the fourth quarter. Inceptionr LLC now owns 27,614 shares of the financial services provider’s stock valued at $1,473,000 after purchasing an additional 22,348 shares in the last quarter. Danske Bank A S purchased a new stake in U.S. Bancorp in the third quarter worth about $37,162,000. Nordea Investment Management AB increased its position in U.S. Bancorp by 15.3% in the fourth quarter. Nordea Investment Management AB now owns 2,690,174 shares of the financial services provider’s stock worth $144,462,000 after buying an additional 357,300 shares in the last quarter. Lighthouse Investment Partners LLC raised its stake in shares of U.S. Bancorp by 92.9% in the third quarter. Lighthouse Investment Partners LLC now owns 252,335 shares of the financial services provider’s stock worth $12,195,000 after buying an additional 121,529 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of U.S. Bancorp by 2.6% in the third quarter. Legal & General Group Plc now owns 9,238,404 shares of the financial services provider’s stock worth $446,492,000 after buying an additional 238,123 shares during the period. Institutional investors own 77.60% of the company’s stock.

Key Stories Impacting U.S. Bancorp

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

• Positive Sentiment: Jefferies upgraded U.S. Bancorp (USB) to Buy and raised its price target to $75, reflecting confidence in improving earnings leverage and fee-based growth. Article Title
• Positive Sentiment: Wells Fargo increased its price target on USB to $66 and reiterated an Overweight rating, signaling continued optimism on the stock. Article Title
• Positive Sentiment: U.S. Bank subsidiary Elavon announced a partnership with Wix to launch unified commerce solutions for small businesses, which could support payments growth and expand business activity for USB. Article Title
• Neutral Sentiment: JPMorgan raised its target on USB to $65 but kept an Underweight rating, reflecting mixed sentiment rather than a clear bullish turn. Article Title
• Neutral Sentiment: Seeking Alpha published a bullish earnings outlook piece on U.S. Bancorp, suggesting investors are focusing on potential Q2 strength, though it does not appear to be a fresh company announcement. Article Title
• Negative Sentiment: No major negative company-specific developments were reported in the latest articles, but JPMorgan’s Underweight stance shows not all analysts are fully bullish on USB.

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.