U.S. Bancorp (NYSE:USB – Free Report) had its target price increased by DA Davidson from $39.00 to $41.00 in a report released on Monday morning, Briefing.com reports. DA Davidson currently has a neutral rating on the financial services provider’s stock.
USB has been the topic of several other research reports. Oppenheimer lifted their target price on U.S. Bancorp from $64.00 to $67.00 and gave the company an outperform rating in a research report on Thursday, April 20th. StockNews.com cut U.S. Bancorp from a hold rating to a sell rating in a research report on Friday, May 12th. Citigroup cut their price objective on U.S. Bancorp from $39.00 to $33.00 in a research report on Sunday, June 11th. Odeon Capital Group cut U.S. Bancorp from a buy rating to a hold rating in a research report on Friday, June 23rd. Finally, Raymond James raised U.S. Bancorp from an underperform rating to a market perform rating in a research report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $48.20.
U.S. Bancorp Stock Up 2.2 %
Shares of NYSE:USB opened at $39.26 on Monday. The stock has a market cap of $60.18 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 1.75 and a beta of 0.96. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.97. U.S. Bancorp has a 12-month low of $27.27 and a 12-month high of $49.95. The business’s 50 day moving average is $33.02 and its 200 day moving average is $37.99.
U.S. Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend was Thursday, June 29th. U.S. Bancorp’s payout ratio is 53.19%.
Insider Buying and Selling
In other U.S. Bancorp news, Director Scott W. Wine bought 30,438 shares of U.S. Bancorp stock in a transaction that occurred on Friday, April 28th. The stock was acquired at an average cost of $32.85 per share, for a total transaction of $999,888.30. Following the completion of the transaction, the director now directly owns 30,438 shares in the company, valued at $999,888.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other U.S. Bancorp news, Director Richard P. Mckenney bought 20,000 shares of U.S. Bancorp stock in a transaction that occurred on Friday, May 5th. The stock was acquired at an average cost of $30.37 per share, for a total transaction of $607,400.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $607,400. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Scott W. Wine acquired 30,438 shares of the business’s stock in a transaction dated Friday, April 28th. The stock was purchased at an average price of $32.85 per share, with a total value of $999,888.30. Following the completion of the acquisition, the director now directly owns 30,438 shares in the company, valued at approximately $999,888.30. The disclosure for this purchase can be found here. Insiders acquired a total of 66,698 shares of company stock worth $2,104,682 over the last ninety days. 0.24% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On U.S. Bancorp
A number of hedge funds and other institutional investors have recently modified their holdings of USB. Hollencrest Capital Management purchased a new position in shares of U.S. Bancorp in the 4th quarter worth about $26,000. Core Alternative Capital boosted its holdings in U.S. Bancorp by 85.7% during the 1st quarter. Core Alternative Capital now owns 741 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 342 shares during the period. SRS Capital Advisors Inc. boosted its holdings in U.S. Bancorp by 46.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 673 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 215 shares during the period. Thompson Investment Management Inc. purchased a new stake in U.S. Bancorp during the 1st quarter valued at about $29,000. Finally, Iron Horse Wealth Management LLC purchased a new stake in U.S. Bancorp during the 1st quarter valued at about $29,000. 74.61% of the stock is currently owned by hedge funds and other institutional investors.
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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.
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