Robert W. Baird Issues Positive Forecast for U.S. Bancorp (NYSE:USB) Stock Price

U.S. Bancorp (NYSE:USB) had its target price lifted by Robert W. Baird from $64.00 to $68.00 in a research report sent to investors on Friday, MarketBeat.com reports. Robert W. Baird currently has a neutral rating on the financial services provider’s stock.

Several other research analysts have also weighed in on the stock. Weiss Ratings upgraded shares of U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Wall Street Zen upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Monday, July 6th. Royal Bank Of Canada upped their price target on shares of U.S. Bancorp from $59.00 to $61.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. UBS Group lifted their price target on shares of U.S. Bancorp from $58.00 to $66.00 and gave the company a “neutral” rating in a report on Tuesday, July 7th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $65.00 target price on shares of U.S. Bancorp in a research report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $66.52.

U.S. Bancorp Price Performance

USB stock opened at $63.14 on Friday. U.S. Bancorp has a 52-week low of $43.46 and a 52-week high of $64.84. The stock’s fifty day simple moving average is $57.89 and its 200-day simple moving average is $56.08. The company has a quick ratio of 0.81, a current ratio of 0.83 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $97.93 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 1.10 and a beta of 0.96.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, beating the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.The firm had revenue of $7.71 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same period in the prior year, the firm posted $1.11 earnings per share. Equities research analysts expect that U.S. Bancorp will post 5.12 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, June 30th. U.S. Bancorp’s payout ratio is presently 43.61%.

Insider Activity

In other U.S. Bancorp news, insider Jodi L. Richard sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the sale, the insider owned 207,251 shares in the company, valued at $11,813,307. This trade represents a 16.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the transaction, the executive vice president directly owned 51,292 shares in the company, valued at approximately $2,847,731.84. The trade was a 40.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in USB. Dogwood Wealth Management LLC boosted its position in shares of U.S. Bancorp by 32.9% in the second quarter. Dogwood Wealth Management LLC now owns 687 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 170 shares during the period. Paulson Wealth Management Inc. grew its position in U.S. Bancorp by 2.0% in the 4th quarter. Paulson Wealth Management Inc. now owns 8,780 shares of the financial services provider’s stock worth $469,000 after purchasing an additional 173 shares during the last quarter. Gilbert & Cook Inc. grew its position in U.S. Bancorp by 1.2% in the 4th quarter. Gilbert & Cook Inc. now owns 15,590 shares of the financial services provider’s stock worth $832,000 after purchasing an additional 184 shares during the last quarter. Flputnam Investment Management Co. increased its holdings in shares of U.S. Bancorp by 1.4% during the 4th quarter. Flputnam Investment Management Co. now owns 13,721 shares of the financial services provider’s stock worth $732,000 after purchasing an additional 186 shares during the period. Finally, Formidable Asset Management LLC increased its holdings in shares of U.S. Bancorp by 0.8% during the 1st quarter. Formidable Asset Management LLC now owns 23,373 shares of the financial services provider’s stock worth $1,247,000 after purchasing an additional 186 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Key Stories Impacting U.S. Bancorp

Here are the key news stories impacting U.S. Bancorp this week:

• Positive Sentiment: U.S. Bancorp posted Q2 earnings of $1.35 per share on revenue of $7.71 billion, both above estimates, with record quarterly revenue driven by loan growth, fee income, and a boost from its BTIG acquisition. U.S. Bancorp Q2 Earnings Beat Estimates on NII & Fee Revenue Growth
• Positive Sentiment: Management raised full-year revenue guidance to a 7% to 9% growth range, signaling confidence that momentum from higher net interest income and fee revenue will continue. Is USB’s Stronger Outlook And BTIG Fee Push Altering The Investment Case For U.S. Bancorp (USB)?
• Positive Sentiment: Several firms lifted price targets after the earnings release, including Oppenheimer, Wells Fargo, Truist, RBC, and Baird, reflecting improved sentiment around USB’s outlook. US Bancorp analysts boost their forecasts after upbeat Q2 results

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.