U.S. Bancorp (NYSE:USB) Hits New 12-Month High at $60.57

U.S. Bancorp (NYSE:USB) shares reached a new 52-week high on Friday . The company traded as high as $60.57 and last traded at $60.31, with a volume of 137877 shares traded. The stock had previously closed at $59.60.

Several equities analysts have issued reports on USB shares. Credit Suisse Group restated a “hold” rating and issued a $55.00 price target on shares of U.S. Bancorp in a research report on Thursday, September 12th. Bank of America lowered shares of U.S. Bancorp from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $55.00 to $53.00 in a report on Monday, September 30th. Citigroup cut shares of U.S. Bancorp from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $54.00 to $49.00 in a research note on Tuesday, October 8th. Odeon Capital Group started coverage on U.S. Bancorp in a report on Thursday. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. raised their target price on U.S. Bancorp from $55.50 to $58.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $56.64.

The stock has a market cap of $93.93 billion, a P/E ratio of 14.67, a price-to-earnings-growth ratio of 2.30 and a beta of 1.11. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.82 and a current ratio of 0.83. The firm’s fifty day simple moving average is $58.36 and its 200-day simple moving average is $54.62.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.15 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.04. U.S. Bancorp had a net margin of 26.54% and a return on equity of 15.39%. The company had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same period in the prior year, the firm posted $1.06 EPS. The company’s quarterly revenue was up 3.9% on a year-over-year basis. Analysts predict that U.S. Bancorp will post 4.34 earnings per share for the current fiscal year.

In other U.S. Bancorp news, insider Gillern Jeffry H. Von sold 5,357 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $56.67, for a total value of $303,581.19. Following the completion of the sale, the insider now directly owns 89,301 shares in the company, valued at $5,060,687.67. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David B. Omaley sold 10,133 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $55.76, for a total value of $565,016.08. Following the completion of the transaction, the director now directly owns 191,754 shares in the company, valued at $10,692,203.04. The disclosure for this sale can be found here. Insiders have sold 239,294 shares of company stock valued at $14,048,412 in the last three months. 0.24% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the business. Northern Trust Corp raised its holdings in shares of U.S. Bancorp by 0.8% during the second quarter. Northern Trust Corp now owns 20,491,980 shares of the financial services provider’s stock valued at $1,073,779,000 after purchasing an additional 171,826 shares during the period. Janus Henderson Group PLC raised its stake in U.S. Bancorp by 2.4% during the 2nd quarter. Janus Henderson Group PLC now owns 13,382,530 shares of the financial services provider’s stock worth $701,230,000 after buying an additional 310,818 shares during the period. Nuveen Asset Management LLC boosted its holdings in U.S. Bancorp by 17,492.7% in the second quarter. Nuveen Asset Management LLC now owns 12,734,464 shares of the financial services provider’s stock worth $667,286,000 after acquiring an additional 12,662,079 shares in the last quarter. Fiera Capital Corp boosted its holdings in U.S. Bancorp by 4.2% in the second quarter. Fiera Capital Corp now owns 9,521,304 shares of the financial services provider’s stock worth $498,916,000 after acquiring an additional 387,833 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in U.S. Bancorp by 2.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 6,615,250 shares of the financial services provider’s stock valued at $346,640,000 after acquiring an additional 144,372 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.

About U.S. Bancorp (NYSE:USB)

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

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