2 weeks Ago By ABMN Staff
Morgan Stanley upgraded shares of U.S. Bancorp ( NYSE:USB – Free Report ) from an equal weight rating to an overweight rating in a report released on Monday morning, Marketbeat reports.
They currently have $57.00 price objective on the financial services provider’s stock, up from their prior price objective of $54.00.
Several other research analysts have also weighed in on USB. Jefferies Financial Group lowered their target price on shares of U.S.
Bancorp from $43.00 to $42.00 and set a hold rating for the company in a research note on Wednesday, July 3rd.
UBS Group raised their price objective on shares of U.S. Bancorp from $43.
00 to $46.00 and gave the company a neutral rating in a research note on Thursday, July 18th. Royal Bank of Canada reissued an outperform rating and issued a $48.
00 price objective on shares of U.S. Bancorp in a research note on Friday, September 13th.
The Goldman Sachs Group lowered their price objective on shares of U.S. Bancorp from $48.
00 to $46.00 and set a neutral rating for the company in a research note on Wednesday, September 11th. Finally, DA Davidson raised their price objective on shares of U.
S. Bancorp from $44.00 to $49.
00 and gave the company a neutral rating in a research note on Thursday, July 18th. Twelve 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 currently has a consensus rating of Hold and an average price target of $48.34. Read Our Latest Research Report on U.
S. Bancorp U.S.
Bancorp Stock Performance U.S. Bancorp ( NYSE:USB – Get Free Report ) last issued its earnings results on Wednesday, July 17th.
The financial services provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.
04. U.S.
Bancorp had a net margin of 12.55% and a return on equity of 13.34%.
The business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.81 billion.
During the same period in the prior year, the business earned $1.12 earnings per share. The company’s quarterly revenue was down 4.
3% compared to the same quarter last year. Equities research analysts anticipate that U.S.
Bancorp will post 3.86 earnings per share for the current year. U.
S. Bancorp Increases Dividend The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.
50 per share. The ex-dividend date is Monday, September 30th. This represents a $2.
00 dividend on an annualized basis and a yield of 4.37%. This is a boost from U.
S. Bancorp’s previous quarterly dividend of $0.49.
U.S. Bancorp’s dividend payout ratio (DPR) is presently 66.
23%. U.S.
Bancorp declared that its Board of Directors has approved a share repurchase plan 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 shares through open market purchases.
Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued. Insider Activity In other news, Director Aleem Gillani acquired 10,000 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were bought at an average cost of $44.
99 per share, with a total value of $449,900.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $449,900.
The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink . Corporate insiders own 0.23% of the company’s stock.
Institutional Investors Weigh In On U.S. Bancorp Institutional investors have recently made changes to their positions in the stock.
Redwood Wealth Management Group LLC acquired a new position in U.S. Bancorp in the 2nd quarter valued at about $25,000.
Financial Synergies Wealth Advisors Inc. purchased a new position in shares of U.S.
Bancorp during the 1st quarter valued at approximately $30,000. 1620 Investment Advisors Inc. purchased a new position in shares of U.
S. Bancorp during the 2nd quarter valued at approximately $30,000. Eagle Bay Advisors LLC boosted its stake in shares of U.
S. Bancorp by 93.2% during the 1st quarter.
Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after buying an additional 331 shares during the last quarter. Finally, LRI Investments LLC purchased a new position in shares of U.S.
Bancorp during the 1st quarter valued at approximately $31,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.
About U.S. Bancorp ( Get Free Report ) 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.
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