U.S. Bancorp (NYSE:USB) Given New $49.00 Price Target at Bank of America

U.S. Bancorp (NYSE:USB) had its price target reduced by Bank of America from $50.00 to $49.00 in a report published on Monday,Benzinga reports. Bank of America currently has a buy rating on the financial services provider’s stock.

Several other brokerages also recently issued reports on USB. Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a research report on Monday, January 13th. DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price target for the company from $58.00 to $60.00 in a report on Thursday, January 2nd. Morgan Stanley dropped their price target on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Barclays upped their price objective on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, Oppenheimer lifted their target price on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $53.98.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock opened at $42.19 on Monday. The business’s fifty day moving average price is $46.76 and its 200 day moving average price is $47.76. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $65.72 billion, a P/E ratio of 11.13, a PEG ratio of 1.73 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The firm had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. During the same quarter in the prior year, the company earned $0.99 EPS. The company’s revenue was up 3.7% on a year-over-year basis. As a group, research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 4.74%. U.S. Bancorp’s payout ratio is 52.77%.

Insider Transactions at U.S. Bancorp

In related news, insider Jodi L. Richard sold 30,000 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the completion of the transaction, the insider now directly owns 99,790 shares in the company, valued at $4,749,006.10. This represents a 23.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction 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 in the company, valued at $9,837,274.72. The trade was a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of U.S. Bancorp by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider’s stock worth $6,640,569,000 after acquiring an additional 1,079,056 shares during the period. State Street Corp lifted its position in U.S. Bancorp by 1.2% in the third quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock worth $3,110,115,000 after purchasing an additional 819,805 shares during the period. FMR LLC lifted its position in U.S. Bancorp by 5.0% in the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider’s stock worth $3,210,624,000 after purchasing an additional 3,211,815 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in U.S. Bancorp by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock valued at $2,381,443,000 after purchasing an additional 2,460,845 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of U.S. Bancorp by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 33,937,360 shares of the financial services provider’s stock valued at $1,618,948,000 after purchasing an additional 850,763 shares during the period. Institutional investors and hedge funds 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.