U.S. Bancorp (NYSE:USB) Upgraded by Evercore to “Outperform” Rating

Evercore upgraded shares of U.S. Bancorp (NYSE:USB) from an in-line rating to an outperform rating in a research report sent to investors on Monday, Marketbeat.com reports. Evercore currently has $72.00 target price on the financial services provider’s stock.

USB has been the subject of several other research reports. Keefe, Bruyette & Woods increased their price target on shares of U.S. Bancorp from $63.00 to $66.00 and gave the stock a “market perform” rating in a research report on Friday. UBS Group lifted their price objective on U.S. Bancorp from $58.00 to $66.00 and gave the company a “neutral” rating in a report on Tuesday, July 7th. Truist Financial upped their price objective on U.S. Bancorp from $66.00 to $69.00 and gave the company a “buy” rating in a research note on Friday. Oppenheimer increased their target price on U.S. Bancorp from $73.00 to $77.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Jefferies Financial Group raised U.S. Bancorp from a “hold” rating to a “buy” rating and boosted their price target for the company from $60.00 to $75.00 in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

U.S. Bancorp Trading Up 0.0%

Shares of USB stock opened at $63.15 on Monday. U.S. Bancorp has a 52-week low of $43.46 and a 52-week high of $64.84. The stock has a market cap of $97.95 billion, a price-to-earnings ratio of 12.60, a P/E/G ratio of 1.07 and a beta of 0.96. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.82 and a current ratio of 0.83. The firm has a fifty day moving average of $58.06 and a 200-day moving average of $56.15.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The company had revenue of $7.71 billion during the quarter, compared to the consensus estimate of $7.58 billion. During the same period last year, the firm earned $1.11 EPS. On average, equities research analysts forecast that U.S. Bancorp will post 5.18 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.52 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a yield of 3.3%. U.S. Bancorp’s payout ratio is 41.52%.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the sale, the executive vice president directly owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. This represents a 40.23% 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 link. Corporate insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Clayton Financial Group LLC acquired a new position in U.S. Bancorp in the fourth quarter worth $25,000. Financial Life Planners bought a new stake in shares of U.S. Bancorp during the first quarter worth $27,000. Main Street Group LTD acquired a new stake in shares of U.S. Bancorp in the first quarter valued at $28,000. JPL Wealth Management LLC acquired a new stake in shares of U.S. Bancorp in the third quarter valued at $28,000. Finally, Binnacle Investments Inc raised its holdings in shares of U.S. Bancorp by 77.8% in the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock valued at $30,000 after buying an additional 273 shares during the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting U.S. Bancorp

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

• Positive Sentiment: Evercore upgraded U.S. Bancorp (USB) from “in-line” to “outperform” and set a $72 price target, implying meaningful upside from current levels. Read More
• Positive Sentiment: JPMorgan upgraded U.S. Bancorp (USB) from “underweight” to “neutral” and raised its target to $67.50, citing improving prospects tied to growth in fee revenue. Read More
• Positive Sentiment: Several recent articles highlighted U.S. Bancorp (USB) as a strong dividend stock, reinforcing the bank’s appeal to income-focused investors. Article
• Neutral Sentiment: Additional coverage compared USB with other finance stocks this year, but did not indicate a major new fundamental catalyst. Article

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.