Barclays Raises U.S. Bancorp (NYSE:USB) Price Target to $57.00

U.S. Bancorp (NYSE:USB) had its price objective increased by Barclays from $52.00 to $57.00 in a report published on Thursday, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other brokerages also recently issued reports on USB. Jefferies Financial Group cut 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. The Goldman Sachs Group reduced their price target on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Citigroup upped their target price on shares of U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. cut shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective for the company. in a research report on Thursday, June 27th. Finally, UBS Group upped their price objective on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $50.71.

U.S. Bancorp Stock Down 1.6 %

Shares of NYSE USB opened at $49.16 on Thursday. U.S. Bancorp has a 52-week low of $30.47 and a 52-week high of $50.47. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. The business has a fifty day moving average of $45.24 and a two-hundred day moving average of $42.66. The stock has a market cap of $76.71 billion, a PE ratio of 16.28, a PEG ratio of 3.32 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating 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 business earned $1.05 earnings per share. As a group, equities research analysts expect that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp declared that its board has initiated a share buyback program on Thursday, September 12th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.50 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is 66.23%.

Institutional Investors Weigh In On U.S. Bancorp

Several institutional investors have recently bought and sold shares of the company. Brookstone Capital Management increased its stake in U.S. Bancorp by 2,056.5% in the 1st quarter. Brookstone Capital Management now owns 218,668 shares of the financial services provider’s stock valued at $9,774,000 after buying an additional 208,528 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in U.S. Bancorp during the second quarter worth about $20,188,000. Mission Wealth Management LP boosted its position in 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 purchasing an additional 12,197 shares during the last quarter. Janus Henderson Group PLC grew its stake in U.S. Bancorp by 6.4% in the first quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock valued at $12,363,000 after purchasing an additional 16,686 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of U.S. Bancorp by 90.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 862,317 shares of the financial services provider’s stock worth $36,676,000 after purchasing an additional 409,192 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

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.