U.S. Bancorp (NYSE:USB) Rating Increased to Buy at Truist Financial

Truist Financial upgraded shares of U.S. Bancorp (NYSE:USB) from a hold rating to a buy rating in a research report released on Thursday, Marketbeat Ratings reports. Truist Financial currently has $66.00 price target on the financial services provider’s stock, up from their previous price target of $61.00.

A number of other analysts have also recently issued reports on the company. Argus upped their target price on U.S. Bancorp from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Wolfe Research cut U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. Piper Sandler restated a “buy” rating on shares of U.S. Bancorp in a research report on Thursday. Keefe, Bruyette & Woods lifted their target price on shares of U.S. Bancorp from $58.00 to $59.00 and gave the company a “market perform” rating in a report on Wednesday, January 21st. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.02.

U.S. Bancorp Trading Up 2.2%

Shares of U.S. Bancorp stock opened at $57.27 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a fifty day simple moving average of $56.16 and a 200-day simple moving average of $51.09. The stock has a market cap of $88.98 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 1.00 and a beta of 1.06. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $61.19.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The firm had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.31 billion. During the same period in the previous year, the company earned $1.07 earnings per share. U.S. Bancorp’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Wednesday, December 31st. U.S. Bancorp’s payout ratio is currently 45.02%.

Insider Activity

In other news, insider Mark G. Runkel sold 32,195 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $60.65, for a total value of $1,952,626.75. Following the completion of the sale, the insider directly owned 97,728 shares of the company’s stock, valued at $5,927,203.20. This trade represents a 24.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of USB. Clayton Financial Group LLC acquired a new position in shares of U.S. Bancorp during the 4th quarter worth $25,000. Guerra Advisors Inc acquired a new stake in shares of U.S. Bancorp in the third quarter valued at about $25,000. Financial Life Planners purchased a new stake in U.S. Bancorp during the third quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in U.S. Bancorp during the third quarter worth about $26,000. Finally, Rossby Financial LCC grew its position in U.S. Bancorp by 57.8% during the fourth quarter. Rossby Financial LCC now owns 579 shares of the financial services provider’s stock worth $31,000 after buying an additional 212 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

About U.S. Bancorp

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.