U.S. Bancorp (NYSE:USB) Stock Price Expected to Rise, Evercore ISI Analyst Says

U.S. Bancorp (NYSE:USB - Free Report) had its price objective increased by Evercore ISI from $51.00 to $54.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has an in-line rating on the financial services provider's stock.

Other research analysts have also recently issued research reports about the stock. Wells Fargo & Company raised their price target on shares of U.S. Bancorp from $52.00 to $60.00 and gave the stock an "overweight" rating in a report on Thursday, October 17th. Stephens raised their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. DA Davidson upped their target price on U.S. Bancorp from $49.00 to $54.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. Morgan Stanley raised shares of U.S. Bancorp from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Finally, Jefferies Financial Group cut their price objective on shares of U.S. Bancorp from $43.00 to $42.00 and set a "hold" rating on the stock in a research note on Wednesday, July 3rd. Thirteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $50.87.

U.S. Bancorp Trading Up 1.0 %

Shares of NYSE:USB traded up $0.47 during trading hours on Wednesday, hitting $48.69. 8,434,459 shares of the company's stock traded hands, compared to its average volume of 8,341,729. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The business has a fifty day moving average price of $46.00 and a 200-day moving average price of $42.93. U.S. Bancorp has a 1 year low of $30.88 and a 1 year high of $50.47. The firm has a market capitalization of $75.98 billion, a P/E ratio of 16.23, a price-to-earnings-growth ratio of 2.85 and a beta of 1.03.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The company had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter last year, the firm posted $1.05 EPS. The firm's revenue was down 2.4% compared to the same quarter last year. Equities analysts expect that U.S. Bancorp will post 3.9 earnings per share for the current year.

U.S. Bancorp declared that its board has approved a share repurchase program on Thursday, September 12th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.11%. The ex-dividend date was Monday, September 30th. This is a positive change from U.S. Bancorp's previous quarterly dividend of $0.49. U.S. Bancorp's dividend payout ratio (DPR) is presently 66.23%.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction on Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the sale, the insider now owns 129,790 shares in the company, valued at $6,363,603.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.23% of the company's stock.

Hedge Funds Weigh In On U.S. Bancorp

Several institutional investors have recently bought and sold shares of USB. Marshall Wace LLP grew its holdings in U.S. Bancorp by 1,438.4% during the 2nd quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider's stock worth $89,853,000 after acquiring an additional 2,116,175 shares during the last quarter. National Bank of Canada FI lifted its position in U.S. Bancorp by 313.8% during the 2nd quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider's stock valued at $105,903,000 after purchasing an additional 2,046,522 shares during the period. BNP Paribas Financial Markets raised its stake in shares of U.S. Bancorp by 88.9% during the first quarter. BNP Paribas Financial Markets now owns 2,331,050 shares of the financial services provider's stock worth $104,198,000 after buying an additional 1,097,179 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in U.S. Bancorp by 16.2% in the first quarter. Clearbridge Investments LLC now owns 6,941,466 shares of the financial services provider's stock valued at $310,284,000 after buying an additional 967,143 shares during the period. Finally, Cambiar Investors LLC bought a new position in U.S. Bancorp in the third quarter valued at approximately $43,619,000. Institutional investors own 77.60% of the company's stock.

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.