UPDATE: Jefferies Raises PT to $30 on US Bancorp, Reiterates Hold

Jefferies maintains its Hold rating on US Bancorp (NYSE: USB) and raises its price target up $1 to $30 on continued consistency in results.

Jefferies notes, "USB continues to build on its reputation of earnings consistency, beating Street estimates across most line items. We raise '12 estimates by a dime (to $2.65) and '13 estimates by a nickel (to $2.80). Higher starting points for payments and mortgage banking revenue are the primary drivers of EPS revisions. Our price target moves to $30 from $29 to reflect our new EPS estimates."

USB closed at $29.08 per share on Wednesday.