Fintel reports that on October 2, 2023, Goldman Sachs maintained coverage of U.S. Bancorp. (NYSE:USB) with a Neutral recommendation.
Analyst Price Forecast Suggests 36.32% Upside
As of August 31, 2023, the average one-year price target for U.S. Bancorp. is 45.07. The forecasts range from a low of 36.36 to a high of $70.35. The average price target represents an increase of 36.32% from its latest reported closing price of 33.06.
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The projected annual revenue for U.S. Bancorp. is 29,557MM, an increase of 22.91%. The projected annual non-GAAP EPS is 5.10.
U.S. Bancorp. Declares $0.48 Dividend
On September 12, 2023 the company declared a regular quarterly dividend of $0.48 per share ($1.92 annualized). Shareholders of record as of September 29, 2023 will receive the payment on October 16, 2023. Previously, the company paid $0.48 per share.
At the current share price of $33.06 / share, the stock's dividend yield is 5.81%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.74%, the lowest has been 2.69%, and the highest has been 6.48%. The standard deviation of yields is 0.93 (n=236).
The current dividend yield is 2.24 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.52. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.14%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 2515 funds or institutions reporting positions in U.S. Bancorp.. This is a decrease of 149 owner(s) or 5.59% in the last quarter. Average portfolio weight of all funds dedicated to USB is 0.39%, a decrease of 9.62%. Total shares owned by institutions decreased in the last three months by 0.57% to 1,305,839K shares. 
The put/call ratio of USB is 0.83, indicating a bullish outlook.
What are Other Shareholders Doing?
Jpmorgan Chase holds 53,650K shares representing 3.45% ownership of the company. In it's prior filing, the firm reported owning 55,967K shares, representing a decrease of 4.32%. The firm increased its portfolio allocation in USB by 524.13% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 47,746K shares representing 3.07% ownership of the company. In it's prior filing, the firm reported owning 47,401K shares, representing an increase of 0.72%. The firm decreased its portfolio allocation in USB by 14.82% over the last quarter.
MUFG Bank holds 44,374K shares representing 2.85% ownership of the company. No change in the last quarter.
Price T Rowe Associates holds 43,780K shares representing 2.81% ownership of the company. In it's prior filing, the firm reported owning 46,838K shares, representing a decrease of 6.98%. The firm increased its portfolio allocation in USB by 79.91% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 33,213K shares representing 2.13% ownership of the company. In it's prior filing, the firm reported owning 32,508K shares, representing an increase of 2.12%. The firm decreased its portfolio allocation in USB by 15.19% over the last quarter.
U.S. Bancorp. Background Information
(This description is provided by the company.)
U.S. Bancorp, with nearly 70,000 employees and $554 billion in assets as of Dec. 31, 2020, is the parent company of U.S. Bank National Association, the fifth-largest commercial bank in the United States. The Minneapolis-based bank blends its relationship teams, branches and ATM network with mobile and online tools that allow customers to bank how, when and where they prefer. U.S. Bank is committed to serving its millions of retail, business, wealth management, payment, commercial and corporate, and investment services customers across the country and around the world as a trusted financial partner, a commitment recognized by the Ethisphere Institute naming the bank one of the 2020 World's Most Ethical Companies.
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