Wells Fargo & Company Cuts U.S. Bancorp (NYSE:USB) Price Target to $48.00

U.S. Bancorp (NYSE:USB) had its target price cut by Wells Fargo & Company from $50.00 to $48.00 in a research note released on Thursday morning, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other research firms also recently commented on USB. Piper Sandler reaffirmed a neutral rating on shares of U.S. Bancorp in a research report on Friday, January 26th. Keefe, Bruyette & Woods reaffirmed a market perform rating and issued a $45.00 target price (down previously from $52.00) on shares of U.S. Bancorp in a research report on Thursday. Barclays reduced their price target on U.S. Bancorp from $56.00 to $52.00 and set an overweight rating on the stock in a research report on Thursday. Evercore ISI increased their price target on U.S. Bancorp from $46.00 to $48.00 and gave the stock an in-line rating in a research report on Thursday, March 28th. Finally, Stephens downgraded U.S. Bancorp from an overweight rating to an equal weight rating in a research report on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $46.14.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $40.45 on Thursday. The business’s 50 day moving average price is $42.32 and its two-hundred day moving average price is $39.90. The company has a market cap of $63.03 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 2.10 and a beta of 1.05. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07. U.S. Bancorp has a twelve month low of $27.27 and a twelve month high of $45.85.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The firm had revenue of $6.72 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the previous year, the business earned $1.16 earnings per share. The business’s revenue was down 6.4% compared to the same quarter last year. On average, analysts predict that U.S. Bancorp will post 3.86 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 4.85%. The ex-dividend date of this dividend was Wednesday, March 27th. U.S. Bancorp’s payout ratio is presently 64.90%.

Insiders Place Their Bets

In other news, EVP James L. Chosy sold 21,582 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the transaction, the executive vice president now directly owns 164,880 shares in the company, valued at approximately $6,837,573.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP James L. Chosy sold 21,582 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the transaction, the executive vice president now directly owns 164,880 shares in the company, valued at approximately $6,837,573.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Terrance R. Dolan sold 26,583 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total value of $1,152,904.71. Following the completion of the transaction, the insider now owns 144,236 shares of the company’s stock, valued at $6,255,515.32. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

Institutional Trading of U.S. Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vestcor Inc grew its stake in shares of U.S. Bancorp by 0.7% in the 4th quarter. Vestcor Inc now owns 33,480 shares of the financial services provider’s stock valued at $1,460,000 after buying an additional 230 shares during the period. Vestor Capital LLC grew its stake in shares of U.S. Bancorp by 1.5% in the 4th quarter. Vestor Capital LLC now owns 17,179 shares of the financial services provider’s stock valued at $744,000 after buying an additional 253 shares during the period. Mosaic Family Wealth Partners LLC grew its stake in shares of U.S. Bancorp by 1.4% in the 4th quarter. Mosaic Family Wealth Partners LLC now owns 19,223 shares of the financial services provider’s stock valued at $832,000 after buying an additional 265 shares during the period. Wealth Alliance grew its stake in shares of U.S. Bancorp by 0.5% in the 4th quarter. Wealth Alliance now owns 49,229 shares of the financial services provider’s stock valued at $2,131,000 after buying an additional 266 shares during the period. Finally, Acadian Asset Management LLC grew its stake in shares of U.S. Bancorp by 3.0% in the 1st quarter. Acadian Asset Management LLC now owns 9,397 shares of the financial services provider’s stock valued at $499,000 after buying an additional 276 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

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.