U.S. Bancorp (NYSE:USB) Price Target Lowered to $56.00 at Wells Fargo & Company

U.S. Bancorp (NYSE:USB) had its target price decreased by Wells Fargo & Company from $62.00 to $56.00 in a report published on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the financial services provider’s stock.

A number of other equities research analysts also recently issued reports on the company. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target for the company in a research report on Monday, January 13th. Barclays boosted their target price on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Oppenheimer raised their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Truist Financial started 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 objective for the company. Finally, Compass Point raised their target price on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.21.

U.S. Bancorp Trading Down 2.4 %

Shares of USB stock opened at $42.21 on Friday. The firm’s 50-day simple moving average is $45.74 and its 200-day simple moving average is $47.59. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98. The firm has a market cap of $65.77 billion, a P/E ratio of 11.14, a PEG ratio of 1.73 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share 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 company had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. During the same quarter last year, the firm posted $0.99 earnings per share. U.S. Bancorp’s revenue was up 3.7% on a year-over-year basis. As a group, equities analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed 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 of this dividend is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.74%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

Insiders Place Their Bets

In other news, CEO Andrew Cecere sold 102,044 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at approximately $58,132,431. This trade represents a 7.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were 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 directly owns 209,482 shares in the company, valued at $9,837,274.72. This represents a 24.05 % 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 worth $10,385,665 in the last three months. 0.23% of the stock is owned by insiders.

Hedge Funds Weigh In On U.S. Bancorp

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