U.S. Bancorp (NYSE:USB) Given New $55.00 Price Target at Citigroup

U.S. Bancorp (NYSE:USB) had its price objective cut by Citigroup from $65.00 to $55.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

A number of other equities research analysts also recently weighed in on USB. Truist Financial assumed coverage on shares of U.S. Bancorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $54.00 price target for the company. Compass Point upped their price target on U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Raymond James raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target for the company in a research report on Thursday, December 19th. Bank of America cut their price target on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Finally, Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price for the company in a research note on Monday, January 13th. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $53.48.

U.S. Bancorp Stock Performance

NYSE:USB opened at $43.81 on Monday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The firm’s 50-day moving average is $46.21 and its 200-day moving average is $47.63. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98. The company has a market cap of $68.25 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 1.73 and a beta of 1.02.

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

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend is Monday, March 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

Insider Activity

In other U.S. Bancorp 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 transaction, the insider now owns 209,482 shares in the company, valued at approximately $9,837,274.72. This represents a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew Cecere sold 102,044 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the completion of the transaction, the chief executive officer now directly owns 1,230,316 shares in the company, valued at $58,132,431. This trade represents a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 219,812 shares of company stock valued at $10,385,665 in the last ninety days. 0.23% of the stock is owned by company insiders.

Hedge Funds Weigh In On U.S. Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of U.S. Bancorp in the fourth quarter worth approximately $777,524,000. FMR LLC grew its holdings in U.S. Bancorp by 32.7% during the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock worth $2,922,784,000 after buying an additional 15,746,852 shares in the last quarter. Invesco Ltd. raised its holdings in shares of U.S. Bancorp by 48.1% in the fourth quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider’s stock valued at $802,947,000 after purchasing an additional 5,449,949 shares during the last quarter. Franklin Resources Inc. increased its stake in U.S. Bancorp by 153.0% in the 3rd quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock valued at $374,573,000 after buying an additional 4,807,662 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in U.S. Bancorp by 414.1% during the fourth quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider’s stock worth $276,915,000 after acquiring an additional 4,663,518 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.