U.S. Bancorp (NYSE:USB) Given New $65.00 Price Target at TD Cowen

U.S. Bancorp (NYSE:USB) had its target price hoisted by TD Cowen from $60.00 to $65.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Other analysts have also issued reports about the company. Bank of America lifted their price target on U.S. Bancorp from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Morgan Stanley reiterated a “positive” rating on shares of U.S. Bancorp in a report on Friday, October 17th. The Goldman Sachs Group set a $52.00 target price on shares of U.S. Bancorp and gave the stock a “neutral” rating in a report on Friday, October 17th. HSBC restated a “buy” rating and issued a $62.00 price target on shares of U.S. Bancorp in a research report on Wednesday. Finally, UBS Group lifted their price target on shares of U.S. Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, U.S. Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $56.30.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $54.90 on Wednesday. The company’s 50 day moving average price is $50.73 and its two-hundred day moving average price is $48.39. The firm has a market capitalization of $85.34 billion, a P/E ratio of 12.56, a P/E/G ratio of 0.98 and a beta of 1.07. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.82. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $56.19.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. The company had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.U.S. Bancorp’s revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.03 EPS. On average, equities analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a $0.52 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $2.08 annualized dividend and a yield of 3.8%. U.S. Bancorp’s payout ratio is presently 47.60%.

Insiders Place Their Bets

In other U.S. Bancorp news, Chairman Andrew Cecere sold 140,445 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.34, for a total value of $6,508,221.30. Following the transaction, the chairman directly owned 1,360,414 shares of the company’s stock, valued at approximately $63,041,584.76. The trade was a 9.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James L. Chosy sold 26,909 shares of the stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the transaction, the executive vice president directly owned 226,375 shares in the company, valued at approximately $10,607,932.50. This represents a 10.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in USB. Chemung Canal Trust Co. lifted its stake in shares of U.S. Bancorp by 205.5% in the third quarter. Chemung Canal Trust Co. now owns 68,327 shares of the financial services provider’s stock valued at $3,302,000 after buying an additional 45,963 shares in the last quarter. Andra AP fonden lifted its position in U.S. Bancorp by 175.6% in the 2nd quarter. Andra AP fonden now owns 458,400 shares of the financial services provider’s stock valued at $20,743,000 after acquiring an additional 292,100 shares in the last quarter. Synergy Asset Management LLC boosted its stake in U.S. Bancorp by 100.0% during the 3rd quarter. Synergy Asset Management LLC now owns 119,962 shares of the financial services provider’s stock valued at $5,428,000 after purchasing an additional 59,981 shares during the last quarter. Cardinal Capital Management Inc. increased its holdings in U.S. Bancorp by 698.5% during the 3rd quarter. Cardinal Capital Management Inc. now owns 243,101 shares of the financial services provider’s stock worth $11,749,000 after purchasing an additional 212,655 shares in the last quarter. Finally, DAVENPORT & Co LLC raised its stake in shares of U.S. Bancorp by 6.6% in the third quarter. DAVENPORT & Co LLC now owns 214,901 shares of the financial services provider’s stock worth $10,386,000 after purchasing an additional 13,280 shares during the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.