U.S. Bancorp (NYSE:USB) Receives Consensus Rating of “Hold” from Brokerages

U.S. Bancorp (NYSE:USB) has been given a consensus rating of “Hold” by the twenty analysts that are covering the firm, MarketBeat Ratings reports. Twelve equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $50.72.

A number of analysts recently weighed in on the company. Wells Fargo & Company increased their price objective on U.S. Bancorp from $52.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Jefferies Financial Group lowered their price objective on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Evercore ISI upped their target price on U.S. Bancorp from $49.00 to $51.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. The Goldman Sachs Group lowered their price target on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Finally, Oppenheimer upped their price objective on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th.

U.S. Bancorp Stock Performance

NYSE:USB opened at $47.74 on Friday. The stock’s 50-day moving average is $45.72 and its 200-day moving average is $42.81. U.S. Bancorp has a 1-year low of $30.47 and a 1-year high of $50.47. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05. The stock has a market cap of $74.50 billion, a P/E ratio of 15.81, a price-to-earnings-growth ratio of 3.32 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. The firm had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.05 EPS. Equities research analysts anticipate that U.S. Bancorp will post 3.86 earnings per share for the current year.

U.S. Bancorp declared that its Board of Directors has authorized a share repurchase program on Thursday, September 12th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio (DPR) is 66.23%.

Insider Buying and Selling

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the business’s 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 completion of the sale, the insider now owns 129,790 shares in the company, valued at approximately $6,363,603.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in USB. Manning & Napier Advisors LLC acquired a new position in U.S. Bancorp during the 2nd quarter valued at about $20,188,000. Mission Wealth Management LP boosted its position in shares of U.S. Bancorp by 200.7% during the first quarter. Mission Wealth Management LP now owns 18,273 shares of the financial services provider’s stock valued at $817,000 after buying an additional 12,197 shares during the last quarter. Janus Henderson Group PLC grew its holdings in U.S. Bancorp by 6.4% during the first quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock worth $12,363,000 after buying an additional 16,686 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in U.S. Bancorp by 90.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 862,317 shares of the financial services provider’s stock valued at $36,676,000 after buying an additional 409,192 shares during the last quarter. Finally, Koshinski Asset Management Inc. bought a new position in U.S. Bancorp during the 1st quarter valued at $732,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

About U.S. Bancorp

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.