Oppenheimer upgraded shares of U.S. Bancorp (NYSE:USB) from a market perform rating to an outperform rating in a research note issued to investors on Thursday morning, Marketbeat.com reports. They currently have $62.00 price target on the financial services provider’s stock.
Several other equities research analysts have also commented on USB. ValuEngine lowered shares of U.S. Bancorp from a hold rating to a sell rating in a research report on Monday, July 2nd. Wedbush restated a neutral rating on shares of U.S. Bancorp in a research report on Monday, July 23rd. Zacks Investment Research upgraded shares of U.S. Bancorp from a hold rating to a buy rating and set a $61.00 price objective on the stock in a research report on Tuesday, September 18th. Macquarie upgraded shares of U.S. Bancorp from a neutral rating to an outperform rating and boosted their price objective for the stock from $56.00 to $62.00 in a research report on Wednesday, October 10th. Finally, UBS Group upgraded shares of U.S. Bancorp from a market perform rating to an outperform rating in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. U.S. Bancorp has a consensus rating of Hold and a consensus price target of $59.58.
Shares of NYSE USB traded up $0.39 during trading on Thursday, hitting $52.52. 493,396 shares of the company were exchanged, compared to its average volume of 7,585,397. The firm has a market capitalization of $86.18 billion, a P/E ratio of 15.23, a PEG ratio of 1.73 and a beta of 0.98. U.S. Bancorp has a 1 year low of $48.49 and a 1 year high of $58.50. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.82 and a current ratio of 0.85.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were given a $0.37 dividend. The ex-dividend date was Thursday, September 27th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.30. This represents a $1.48 annualized dividend and a dividend yield of 2.82%. U.S. Bancorp’s payout ratio is currently 43.27%.
In related news, Vice Chairman John R. Elmore sold 58,924 shares of the business’s stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $51.71, for a total value of $3,046,960.04. Following the sale, the insider now directly owns 98,371 shares in the company, valued at approximately $5,086,764.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.43% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in USB. Bank of Montreal Can purchased a new position in U.S. Bancorp in the 2nd quarter valued at about $131,487,000. Bank of New York Mellon Corp lifted its holdings in U.S. Bancorp by 15.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 15,867,860 shares of the financial services provider’s stock valued at $793,710,000 after purchasing an additional 2,071,326 shares in the last quarter. BTIM Corp. purchased a new position in U.S. Bancorp in the 2nd quarter valued at about $78,408,000. Chevy Chase Trust Holdings Inc. purchased a new position in U.S. Bancorp in the 2nd quarter valued at about $72,386,000. Finally, Cornerstone Wealth Management LLC lifted its holdings in U.S. Bancorp by 5,122.1% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,133,620 shares of the financial services provider’s stock valued at $22,487,000 after purchasing an additional 1,111,912 shares in the last quarter. Institutional investors and hedge funds own 74.41% 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. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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