U.S. Bancorp (NYSE:USB) Coverage Initiated at Truist Financial

Truist Financial began coverage on shares of U.S. Bancorp (NYSE:USB) in a report published on Tuesday,Benzinga reports. The firm issued a hold rating and a $54.00 price target on the financial services provider’s stock.

Several other equities analysts also recently commented on the company. Robert W. Baird set a $54.00 price objective on U.S. Bancorp in a research report on Thursday, October 17th. DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price target for the stock from $58.00 to $60.00 in a research note on Thursday, January 2nd. Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $49.00 to $65.00 in a report on Monday, November 25th. Deutsche Bank Aktiengesellschaft downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a research note on Thursday, October 24th. Finally, Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $54.00 to $57.00 in a research note on Monday, September 30th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Hold” and a consensus target price of $54.07.

U.S. Bancorp Trading Up 0.0 %

Shares of USB opened at $48.74 on Tuesday. The company’s fifty day simple moving average is $50.21 and its 200-day simple moving average is $46.38. The company has a market cap of $76.04 billion, a P/E ratio of 14.91, a P/E/G ratio of 3.01 and a beta of 1.05. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.04. The business had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.05 earnings per share. As a group, analysts expect that U.S. Bancorp will post 3.93 EPS for the current year.

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

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.10%. U.S. Bancorp’s payout ratio is 61.16%.

Insider Activity

In other news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 129,790 shares in the company, valued at $6,363,603.70. This represents a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Natixis Advisors LLC increased its position in shares of U.S. Bancorp by 16.6% in the 3rd quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock valued at $18,348,000 after acquiring an additional 56,990 shares during the period. M&T Bank Corp increased its holdings in shares of U.S. Bancorp by 2.8% in the third quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock valued at $38,704,000 after purchasing an additional 22,803 shares during the period. Hilltop Holdings Inc. raised its stake in shares of U.S. Bancorp by 184.3% in the third quarter. Hilltop Holdings Inc. now owns 70,283 shares of the financial services provider’s stock worth $3,214,000 after purchasing an additional 45,560 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of U.S. Bancorp by 544.1% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 13,894 shares of the financial services provider’s stock worth $635,000 after purchasing an additional 11,737 shares during the period. Finally, Principal Financial Group Inc. boosted its position in U.S. Bancorp by 4.4% in the third quarter. Principal Financial Group Inc. now owns 1,763,816 shares of the financial services provider’s stock valued at $80,659,000 after buying an additional 75,104 shares during the last quarter. Institutional investors and hedge funds 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.