U.S. Bancorp (NYSE:USB) Price Target Lowered to $46.00 at The Goldman Sachs Group

U.S. Bancorp (NYSE:USB) had its price target lowered by The Goldman Sachs Group from $48.00 to $46.00 in a research report released on Wednesday, Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

Several other analysts have also weighed in on USB. Wells Fargo & Company lifted their price objective on shares of U.S. Bancorp from $48.00 to $52.00 and gave the company an overweight rating in a research note on Thursday, July 18th. Morgan Stanley lifted their price target on shares of U.S. Bancorp from $47.00 to $54.00 and gave the company an equal weight rating in a research note on Tuesday, July 30th. Jefferies Financial Group cut their price objective on shares of U.S. Bancorp from $43.00 to $42.00 and set a hold rating on the stock in a research report on Wednesday, July 3rd. Royal Bank of Canada upped their price target on U.S. Bancorp from $47.00 to $48.00 and gave the stock an outperform rating in a research note on Thursday, July 18th. Finally, DA Davidson raised their price objective on U.S. Bancorp from $44.00 to $49.00 and gave the company a neutral rating in a research note on Thursday, July 18th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $48.18.

U.S. Bancorp Stock Performance

Shares of USB opened at $44.75 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05. The firm’s fifty day simple moving average is $43.74 and its two-hundred day simple moving average is $42.16. U.S. Bancorp has a 12 month low of $30.47 and a 12 month high of $47.31. The stock has a market capitalization of $69.83 billion, a P/E ratio of 14.82, a price-to-earnings-growth ratio of 4.34 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.94 by $0.04. The company had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.12 EPS. As a group, analysts predict that U.S. Bancorp will post 3.87 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date was Friday, June 28th. U.S. Bancorp’s payout ratio is 64.90%.

Insider Buying and Selling

In other U.S. Bancorp news, Director Aleem Gillani acquired 10,000 shares of U.S. Bancorp stock in a transaction on Thursday, July 18th. The stock was purchased at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $449,900. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On U.S. Bancorp

Several institutional investors have recently added to or reduced their stakes in the stock. Gilbert & Cook Inc. grew its position in shares of U.S. Bancorp by 4.0% during the 4th quarter. Gilbert & Cook Inc. now owns 15,483 shares of the financial services provider’s stock valued at $670,000 after acquiring an additional 593 shares during the period. Aveo Capital Partners LLC increased its position in U.S. Bancorp by 5.6% in the fourth quarter. Aveo Capital Partners LLC now owns 11,167 shares of the financial services provider’s stock worth $483,000 after buying an additional 592 shares during the last quarter. Checchi Capital Advisers LLC raised its stake in shares of U.S. Bancorp by 6.3% in the fourth quarter. Checchi Capital Advisers LLC now owns 10,062 shares of the financial services provider’s stock valued at $435,000 after buying an additional 599 shares during the period. Avantax Advisory Services Inc. lifted its position in shares of U.S. Bancorp by 7.8% during the 4th quarter. Avantax Advisory Services Inc. now owns 107,960 shares of the financial services provider’s stock valued at $4,672,000 after buying an additional 7,829 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of U.S. Bancorp during the 4th quarter worth $14,014,000. Institutional investors own 77.60% of the company’s stock.

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.