U.S. Bancorp (NYSE:USB) Price Target Cut to $56.00 by Analysts at Barclays

U.S. Bancorp (NYSE:USB) had its target price lowered by Barclays from $61.00 to $56.00 in a research note published on Thursday morning,Benzinga reports. Barclays currently has an overweight rating on the financial services provider’s stock.

A number of other analysts have also commented on the stock. The Goldman Sachs Group lowered their target price on shares of U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Citigroup decreased their price objective on U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Bank of America cut their target price on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Monday, March 17th. DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $58.00 to $60.00 in a research report on Thursday, January 2nd. Finally, Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target on the stock in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.66.

U.S. Bancorp Trading Up 1.0 %

Shares of USB opened at $38.21 on Thursday. The stock’s fifty day simple moving average is $42.73 and its 200-day simple moving average is $46.81. The firm has a market capitalization of $59.53 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 1.73 and a beta of 0.91. U.S. Bancorp has a 12-month low of $35.18 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.

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

U.S. Bancorp Announces Dividend

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

Insider Activity at U.S. Bancorp

In other news, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was 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. This represents a 24.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP James L. Chosy sold 21,451 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the transaction, the executive vice president now owns 198,127 shares in the company, valued at approximately $9,440,751.55. The trade was a 9.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 219,812 shares of company stock valued at $10,385,665. Corporate insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

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