U.S. Bancorp (NYSE:USB) Given New $51.00 Price Target at Truist Financial

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

Several other brokerages have also issued reports on USB. DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price target for the company from $58.00 to $60.00 in a report on Thursday, January 2nd. Oppenheimer upped their target price on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Barclays raised their price target 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. Raymond James upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a research note on Thursday, December 19th. Finally, Morgan Stanley cut their target price on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.89.

U.S. Bancorp Stock Down 5.2 %

NYSE USB opened at $36.78 on Friday. U.S. Bancorp has a twelve month low of $35.74 and a twelve month high of $53.98. The stock has a market cap of $57.30 billion, a PE ratio of 9.70, a PEG ratio of 1.73 and a beta of 1.02. The firm has a 50-day simple moving average of $44.92 and a 200 day simple moving average of $47.41. 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 announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The company had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the company earned $0.99 EPS. On average, research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently declared 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 of this dividend is Monday, March 31st. This represents a $2.00 annualized dividend 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 news, insider Terrance R. Dolan sold 66,317 shares of the business’s stock in a transaction 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 completion of the sale, the insider now owns 209,482 shares in the company, valued at $9,837,274.72. The trade was a 24.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Andrew Cecere sold 102,044 shares of the firm’s 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 transaction, the chief executive officer now owns 1,230,316 shares in the company, valued at approximately $58,132,431. This represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock worth $10,385,665 in the last quarter. Insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On U.S. Bancorp

Several large investors have recently bought and sold shares of USB. Capital Performance Advisors LLP grew its position in shares of U.S. Bancorp by 2.6% during the 4th quarter. Capital Performance Advisors LLP now owns 8,188 shares of the financial services provider’s stock worth $392,000 after buying an additional 210 shares during the period. HCR Wealth Advisors raised its holdings in U.S. Bancorp by 1.1% in the fourth quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider’s stock worth $962,000 after purchasing an additional 211 shares during the period. Covestor Ltd raised its holdings in U.S. Bancorp by 12.3% in the fourth quarter. Covestor Ltd now owns 1,955 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 214 shares during the period. Priebe Wealth Holdings LLC boosted its position in shares of U.S. Bancorp by 4.4% during the fourth quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider’s stock worth $243,000 after purchasing an additional 215 shares in the last quarter. Finally, Essex Savings Bank grew its holdings in shares of U.S. Bancorp by 1.8% in the 4th quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider’s stock valued at $591,000 after buying an additional 216 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.