U.S. Bancorp (NYSE:USB) had its price objective lifted by Barclays from $61.00 to $65.00 in a research note issued to investors on Wednesday, The Fly reports. They currently have an overweight rating on the financial services provider’s stock.
A number of other equities analysts also recently issued reports on the company. Stephens lifted their price target on U.S. Bancorp from $52.00 to $68.00 and gave the company an overweight rating in a research note on Tuesday, March 30th. Bank of America downgraded U.S. Bancorp from a neutral rating to an underperform rating and lifted their price target for the company from $44.00 to $52.00 in a research note on Thursday, January 7th. Morgan Stanley lifted their price target on U.S. Bancorp from $57.00 to $58.00 and gave the company an equal weight rating in a research note on Monday, March 8th. Credit Suisse Group lifted their price target on U.S. Bancorp from $50.00 to $56.00 and gave the company a neutral rating in a research note on Wednesday, March 31st. Finally, Odeon Capital Group upgraded U.S. Bancorp from a hold rating to a buy rating in a research note on Wednesday, March 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $52.81.
Shares of U.S. Bancorp stock opened at $56.81 on Wednesday. U.S. Bancorp has a one year low of $28.36 and a one year high of $57.02. The firm has a market capitalization of $85.36 billion, a price-to-earnings ratio of 18.81, a PEG ratio of 2.26 and a beta of 1.09. The business has a 50-day simple moving average of $53.30 and a 200 day simple moving average of $45.75. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.82 and a quick ratio of 0.80.
U.S. Bancorp declared that its board has approved a stock repurchase plan on Tuesday, December 22nd that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Wednesday, March 31st will be paid a $0.42 dividend. The ex-dividend date is Tuesday, March 30th. This represents a $1.68 annualized dividend and a yield of 2.96%. U.S. Bancorp’s payout ratio is 38.71%.
A number of institutional investors have recently bought and sold shares of the stock. Somerset Trust Co lifted its stake in U.S. Bancorp by 0.6% in the first quarter. Somerset Trust Co now owns 31,353 shares of the financial services provider’s stock valued at $1,734,000 after purchasing an additional 181 shares during the last quarter. Everence Capital Management Inc. purchased a new position in U.S. Bancorp in the first quarter valued at approximately $2,473,000. TrimTabs Asset Management LLC purchased a new position in U.S. Bancorp in the first quarter valued at approximately $1,220,000. Canandaigua National Corp lifted its stake in U.S. Bancorp by 2.7% in the first quarter. Canandaigua National Corp now owns 23,647 shares of the financial services provider’s stock valued at $1,308,000 after purchasing an additional 632 shares during the last quarter. Finally, Confluence Investment Management LLC lifted its stake in U.S. Bancorp by 1.6% in the first quarter. Confluence Investment Management LLC now owns 1,869,767 shares of the financial services provider’s stock valued at $103,417,000 after purchasing an additional 29,243 shares during the last quarter. Institutional investors and hedge funds own 71.73% of the company’s stock.
About U.S. Bancorp
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments. The company offers depository services, including checking accounts, savings accounts, and time certificate contracts; lending services, such as traditional credit products; and credit card services, lease financing and import/export trade, asset-backed lending, agricultural finance, and other products.
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