U.S. Bancorp (NYSE:USB) Sets New 1-Year Low After Analyst Downgrade

Shares of U.S. Bancorp (NYSE:USB) hit a new 52-week low during mid-day trading on Friday after Truist Financial lowered their price target on the stock from $54.00 to $51.00. Truist Financial currently has a hold rating on the stock. U.S. Bancorp traded as low as $36.56 and last traded at $36.82, with a volume of 1178905 shares trading hands. The stock had previously closed at $38.79.

USB has been the topic of several other reports. Wells Fargo & Company reduced their target price on U.S. Bancorp from $62.00 to $56.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $43.50 target price (down from $51.00) on shares of U.S. Bancorp in a report on Thursday. Barclays upped their price target on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Oppenheimer lifted their price objective on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Finally, Citigroup cut their target price 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. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $52.89.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Terrance R. Dolan sold 66,317 shares of U.S. Bancorp stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the transaction, the insider now directly owns 209,482 shares of the company’s stock, valued at approximately $9,837,274.72. The trade was a 24.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jodi L. Richard sold 30,000 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $47.59, for a total value of $1,427,700.00. Following the completion of the sale, the insider now owns 99,790 shares in the company, valued at $4,749,006.10. This trade represents a 23.11 % decrease in their position. 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 currently owned by insiders.

Hedge Funds Weigh In On U.S. Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. J.Safra Asset Management Corp acquired a new stake in U.S. Bancorp during the 4th quarter valued at approximately $26,000. Winch Advisory Services LLC increased its position in shares of U.S. Bancorp by 1,088.9% during the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock worth $26,000 after buying an additional 490 shares during the period. FPC Investment Advisory Inc. bought a new position in U.S. Bancorp during the fourth quarter worth $28,000. Global Wealth Strategies & Associates boosted its position in U.S. Bancorp by 70.8% during the fourth 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 during the last quarter. Finally, Stonebridge Financial Group LLC acquired a new stake in U.S. Bancorp during the 4th quarter worth about $30,000. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Performance

The stock has a market capitalization of $57.30 billion, a P/E ratio of 9.70, a price-to-earnings-growth ratio of 1.73 and a beta of 0.91. 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 company has a 50-day moving average price of $44.92 and a two-hundred day moving average price of $47.43.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.01. The firm had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.99 earnings per share. On average, equities analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 5.44%. The ex-dividend date is Monday, March 31st. U.S. Bancorp’s dividend payout ratio is presently 52.77%.

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.