Truist Financial Issues Pessimistic Forecast for U.S. Bancorp (NYSE:USB) Stock Price

U.S. Bancorp (NYSE:USB) had its target price decreased by Truist Financial from $54.00 to $51.00 in a research report report published on Friday morning,Benzinga reports. Truist Financial currently has a hold rating on the financial services provider’s stock.

Other equities analysts also recently issued research reports about the company. DA Davidson raised U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the stock from $58.00 to $60.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $43.50 price target (down from $51.00) on shares of U.S. Bancorp in a research note on Thursday. Barclays increased their price objective on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Wells Fargo & Company lowered their target price on U.S. Bancorp from $62.00 to $56.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Finally, Oppenheimer raised their price target on U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.89.

U.S. Bancorp Stock Down 5.2 %

Shares of USB stock opened at $36.78 on Friday. U.S. Bancorp has a 12-month low of $35.74 and a 12-month high of $53.98. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The firm has a fifty day moving average of $44.92 and a 200-day moving average of $47.41. The company has a market capitalization of $57.30 billion, a price-to-earnings ratio of 9.70, a P/E/G ratio of 1.73 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The company’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 EPS. As a group, equities research analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.44%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 52.77%.

Insider Buying and Selling

In other U.S. Bancorp news, CEO Andrew Cecere sold 102,044 shares of U.S. Bancorp stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total value of $4,821,579.00. Following the completion of the sale, the chief executive officer now owns 1,230,316 shares in the company, valued at $58,132,431. The trade was a 7.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the transaction, the insider now directly owns 209,482 shares in the company, valued at $9,837,274.72. This represents a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 219,812 shares of company stock valued at $10,385,665. Insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On U.S. Bancorp

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of U.S. Bancorp by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider’s stock worth $6,640,569,000 after purchasing an additional 1,079,056 shares in the last quarter. State Street Corp lifted its position in U.S. Bancorp by 1.2% during the third quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock worth $3,110,115,000 after purchasing an additional 819,805 shares during the period. FMR LLC grew its stake in U.S. Bancorp by 5.0% during the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider’s stock worth $3,210,624,000 after buying an additional 3,211,815 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in U.S. Bancorp by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock valued at $2,381,443,000 after buying an additional 2,460,845 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of U.S. Bancorp by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 33,937,360 shares of the financial services provider’s stock valued at $1,618,948,000 after buying an additional 850,763 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Company Profile

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.