Wells Fargo & Company Lowers U.S. Bancorp (NYSE:USB) Price Target to $56.00

U.S. Bancorp (NYSE:USB) had its price target trimmed by Wells Fargo & Company from $62.00 to $56.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

A number of other research analysts have also weighed in on the stock. DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price target for the company from $58.00 to $60.00 in a research report on Thursday, January 2nd. Compass Point lifted their target price on shares of U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Truist Financial began coverage on U.S. Bancorp in a report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 target price for the company. Oppenheimer lifted their price target on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Finally, Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a research note on Monday, January 13th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $53.21.

U.S. Bancorp Stock Performance

Shares of USB opened at $42.21 on Friday. The firm has a market capitalization of $65.77 billion, a P/E ratio of 11.14, a P/E/G ratio of 1.73 and a beta of 1.02. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98. The stock has a 50 day moving average price of $45.74 and a two-hundred day moving average price of $47.55. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The business had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. U.S. Bancorp’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.99 EPS. Equities analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 4.74%. U.S. Bancorp’s payout ratio is presently 52.77%.

Insider Transactions at U.S. Bancorp

In related news, insider Terrance R. Dolan sold 66,317 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value of $3,114,246.32. Following the completion of the transaction, the insider now directly owns 209,482 shares in the company, valued at approximately $9,837,274.72. The trade was a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jodi L. Richard sold 30,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $47.59, for a total value of $1,427,700.00. Following the sale, the insider now owns 99,790 shares in the company, valued at $4,749,006.10. The trade was a 23.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 219,812 shares of company stock valued at $10,385,665 in the last quarter. Insiders own 0.23% of the company’s stock.

Institutional Trading of U.S. Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the company. J.Safra Asset Management Corp purchased a new position in shares of U.S. Bancorp during the fourth quarter worth approximately $26,000. Winch Advisory Services LLC grew its holdings in shares of U.S. Bancorp by 1,088.9% during the 4th quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 490 shares during the last quarter. FPC Investment Advisory Inc. purchased a new position in U.S. Bancorp in the 4th quarter worth $28,000. Global Wealth Strategies & Associates lifted its stake in U.S. Bancorp by 70.8% in the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 250 shares during the last quarter. Finally, Stonebridge Financial Group LLC purchased a new stake in U.S. Bancorp during the fourth quarter valued at about $30,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.