U.S. Bancorp (NYSE:USB) Price Target Cut to $49.00 by Analysts at DA Davidson

U.S. Bancorp (NYSE:USB) had its price target lowered by DA Davidson from $54.00 to $49.00 in a research report sent to investors on Thursday,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

Several other brokerages have also recently issued reports on USB. Raymond James reiterated an “outperform” rating and set a $51.00 price target (down previously from $57.00) on shares of U.S. Bancorp in a research report on Thursday. Keefe, Bruyette & Woods reduced their target price on U.S. Bancorp from $54.00 to $49.00 and set a “market perform” rating on the stock in a report on Thursday. Truist Financial lowered their target price on U.S. Bancorp from $51.00 to $48.00 and set a “hold” rating for the company in a research note on Thursday. Oppenheimer upped their price target on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Finally, Bank of America lowered their price objective on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average target price of $50.66.

U.S. Bancorp Trading Up 1.0 %

USB opened at $38.21 on Thursday. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The business has a 50 day simple moving average of $42.73 and a two-hundred day simple moving average of $46.81. The firm has a market capitalization of $59.53 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 1.73 and a beta of 0.91.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.06. The company had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.92 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. During the same quarter in the prior year, the company earned $0.78 earnings per share. Analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.50 dividend. The ex-dividend date was Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 5.23%. U.S. Bancorp’s payout ratio is 52.77%.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Terrance R. Dolan sold 66,317 shares of U.S. Bancorp stock in a transaction that occurred 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 sale, the insider now owns 209,482 shares of the company’s stock, valued at approximately $9,837,274.72. The trade was a 24.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jodi L. Richard sold 30,000 shares of the stock in a transaction on 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 transaction, the insider now directly owns 99,790 shares in the company, valued at $4,749,006.10. The trade was a 23.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 219,812 shares of company stock valued at $10,385,665. 0.23% of the stock is owned by insiders.

Institutional Investors Weigh In On U.S. Bancorp

Large investors have recently made changes to their positions in the company. Norges Bank bought a new stake in U.S. Bancorp during the fourth quarter valued at approximately $777,524,000. Invesco Ltd. grew its position in shares of U.S. Bancorp by 48.1% during the 4th quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider’s stock valued at $802,947,000 after acquiring an additional 5,449,949 shares during the period. Franklin Resources Inc. increased its stake in shares of U.S. Bancorp by 153.0% in the 3rd quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock worth $374,573,000 after purchasing an additional 4,807,662 shares in the last quarter. Marshall Wace LLP raised its holdings in U.S. Bancorp by 414.1% in the 4th quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider’s stock worth $276,915,000 after purchasing an additional 4,663,518 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in U.S. Bancorp during the fourth quarter valued at $184,733,000. 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.