U.S. Bancorp (NYSE:USB) Reaches New 1-Year High at $63.14

U.S. Bancorp (NYSE:USB) reached a new 52-week high on Thursday . The stock traded as high as $63.14 and last traded at $63.13, with a volume of 34223 shares trading hands. The stock had previously closed at $62.49.

USB has been the subject of several research analyst reports. Barclays cut U.S. Bancorp from an “overweight” rating to an “equal weight” rating and set a $68.00 price target for the company. in a report on Monday, January 3rd. Stephens lowered U.S. Bancorp from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $68.00 to $63.00 in a research note on Monday, November 29th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of U.S. Bancorp in a research note on Friday, December 17th. Jefferies Financial Group lifted their target price on U.S. Bancorp from $66.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, October 11th. Finally, Royal Bank of Canada lifted their price target on U.S. Bancorp from $62.00 to $66.00 and gave the company an “outperform” rating in a report on Friday, October 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $64.90.

The firm has a market cap of $93.79 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 2.18 and a beta of 1.07. The company has a fifty day moving average price of $58.31 and a 200-day moving average price of $58.20. The company has a current ratio of 0.79, a quick ratio of 0.78 and a debt-to-equity ratio of 0.74.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, October 14th. The financial services provider reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.14. The company had revenue of $5.89 billion during the quarter, compared to analysts’ expectations of $5.76 billion. U.S. Bancorp had a return on equity of 16.20% and a net margin of 32.30%. U.S. Bancorp’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.99 EPS. As a group, research analysts forecast that U.S. Bancorp will post 5.13 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 18th. Investors of record on Friday, December 31st will be issued a $0.46 dividend. The ex-dividend date of this dividend is Thursday, December 30th. This represents a $1.84 dividend on an annualized basis and a yield of 2.91%. U.S. Bancorp’s payout ratio is 36.95%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its holdings in shares of U.S. Bancorp by 51.9% during the second quarter. Royal Bank of Canada now owns 14,939,966 shares of the financial services provider’s stock valued at $851,130,000 after acquiring an additional 5,103,553 shares during the last quarter. Invesco Ltd. raised its holdings in shares of U.S. Bancorp by 54.5% during the second quarter. Invesco Ltd. now owns 7,552,426 shares of the financial services provider’s stock valued at $430,261,000 after acquiring an additional 2,665,153 shares during the last quarter. BlackRock Inc. raised its holdings in shares of U.S. Bancorp by 2.9% during the third quarter. BlackRock Inc. now owns 93,827,638 shares of the financial services provider’s stock valued at $5,577,113,000 after acquiring an additional 2,630,503 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of U.S. Bancorp by 28.0% during the third quarter. Franklin Resources Inc. now owns 9,524,765 shares of the financial services provider’s stock valued at $566,132,000 after acquiring an additional 2,085,673 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of U.S. Bancorp by 10.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 18,244,534 shares of the financial services provider’s stock valued at $1,039,391,000 after acquiring an additional 1,736,735 shares during the last quarter. 73.67% of the stock is owned by institutional investors.

About U.S. Bancorp (NYSE:USB)

U.S. Bancorp operates as a bank holding company, which offers financial services including lending and depository services, cash management, foreign exchange and trust and investment management. The firm also offers mortgage, refinance, auto, boat and RV loans, credit lines, credit card services, merchant, bank, checking and savings accounts, debit cards, online and mobile banking, ATM processing, mortgage banking, insurance, brokerage and leasing services.

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