U.S. Bancorp (NYSE:USB) Given New $69.00 Price Target at Truist Financial

U.S. Bancorp (NYSE:USB) had its price objective lifted by Truist Financial from $66.00 to $69.00 in a report released on Friday morning, MarketBeat Ratings reports. They currently have a buy rating on the financial services provider’s stock.

USB has been the subject of several other reports. Weiss Ratings upgraded shares of U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Stephens assumed coverage on U.S. Bancorp in a research report on Monday, June 15th. They issued an “equal weight” rating and a $63.00 target price for the company. Oppenheimer lowered their target price on U.S. Bancorp from $74.00 to $73.00 and set an “outperform” rating for the company in a research note on Tuesday, June 30th. Raymond James Financial started coverage on U.S. Bancorp in a research report on Wednesday, July 8th. They set a “strong-buy” rating and a $72.00 price target on the stock. Finally, Robert W. Baird increased their price objective on U.S. Bancorp from $64.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $66.52.

U.S. Bancorp Stock Down 1.4%

Shares of NYSE USB opened at $63.14 on Friday. The firm has a fifty day simple moving average of $57.89 and a two-hundred day simple moving average of $56.08. U.S. Bancorp has a 12 month low of $43.46 and a 12 month high of $64.84. The company has a current ratio of 0.83, a quick ratio of 0.81 and a debt-to-equity ratio of 0.96. 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 for the quarter, beating analysts’ consensus estimates of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The firm had revenue of $7.71 billion for the quarter, compared to analyst estimates of $7.58 billion. During the same quarter in the previous year, the firm posted $1.11 EPS. Equities analysts expect that U.S. Bancorp will post 5.12 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid 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 presently 43.61%.

Insider Buying and Selling at U.S. Bancorp

In other 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 value of $2,280,000.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Venkatachari Dilip sold 34,522 shares of the 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 sale, the executive vice president directly 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 disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.

Institutional Trading of U.S. Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of USB. Inceptionr LLC raised its stake in shares of 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 during the period. Nordea Investment Management AB boosted its stake in shares of 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 valued at $144,462,000 after purchasing an additional 357,300 shares during the period. Savvy Advisors Inc. increased its stake in U.S. Bancorp by 244.4% during the 4th quarter. Savvy Advisors Inc. now owns 30,872 shares of the financial services provider’s stock worth $1,647,000 after buying an additional 21,907 shares during the period. Cardinal Capital Management Inc. increased its stake in U.S. Bancorp by 17.3% during the 4th quarter. Cardinal Capital Management Inc. now owns 285,196 shares of the financial services provider’s stock worth $15,218,000 after buying an additional 42,095 shares during the period. Finally, Keudell Morrison Wealth Management acquired a new position in U.S. Bancorp in the 4th quarter worth $2,856,000. 77.60% of the stock is currently owned by institutional investors.

Trending Headlines about U.S. Bancorp

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.