U.S. Bancorp (NYSE:USB) Price Target Cut to $43.00

U.S. Bancorp (NYSE:USB - Free Report) had its price objective decreased by UBS Group from $47.00 to $43.00 in a research note published on Friday, Benzinga reports. UBS Group currently has a neutral rating on the financial services provider's stock.

A number of other equities research analysts also recently weighed in on the stock. StockNews.com downgraded shares of U.S. Bancorp from a hold rating to a sell rating in a research note on Tuesday, February 20th. Compass Point raised U.S. Bancorp from a neutral rating to a buy rating and lifted their price objective for the company from $46.00 to $49.00 in a report on Friday, March 22nd. DA Davidson cut their price objective on U.S. Bancorp from $45.00 to $44.00 and set a neutral rating for the company in a report on Thursday. Oppenheimer cut their price objective on U.S. Bancorp from $55.00 to $54.00 and set an outperform rating for the company in a report on Thursday. Finally, Piper Sandler reissued a neutral rating on shares of U.S. Bancorp in a report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, U.S. Bancorp has a consensus rating of Hold and an average target price of $46.68.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock traded up $1.01 during midday trading on Friday, hitting $40.45. The company had a trading volume of 12,037,614 shares, compared to its average volume of 8,840,654. The business's 50 day simple moving average is $42.32 and its two-hundred day simple moving average is $39.78. The stock has a market cap of $63.03 billion, a PE ratio of 13.39, a P/E/G ratio of 2.04 and a beta of 1.05. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81. U.S. Bancorp has a 1-year low of $27.27 and a 1-year high of $45.85.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The business had revenue of $6.72 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter last year, the company posted $1.16 earnings per share. U.S. Bancorp's quarterly revenue was down 6.4% on a year-over-year basis. As a group, equities analysts predict that U.S. Bancorp will post 3.87 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a $0.49 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.96 dividend on an annualized basis and a yield of 4.85%. U.S. Bancorp's payout ratio is 64.90%.

Insider Buying and Selling

In related news, EVP James L. Chosy sold 21,582 shares of U.S. Bancorp stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the sale, the executive vice president now directly owns 164,880 shares in the company, valued at $6,837,573.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP James L. Chosy sold 21,582 shares of the business's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction of $895,005.54. Following the completion of the transaction, the executive vice president now directly owns 164,880 shares in the company, valued at approximately $6,837,573.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Terrance R. Dolan sold 26,583 shares of the business's stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total value of $1,152,904.71. Following the transaction, the insider now owns 144,236 shares of the company's stock, valued at $6,255,515.32. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company's stock.

Hedge Funds Weigh In On U.S. Bancorp

Several institutional investors have recently modified their holdings of USB. American National Bank & Trust Co. VA acquired a new position in shares of U.S. Bancorp in the 1st quarter valued at approximately $491,000. Accel Wealth Management grew its position in shares of U.S. Bancorp by 1.2% in the 1st quarter. Accel Wealth Management now owns 110,194 shares of the financial services provider's stock valued at $4,926,000 after purchasing an additional 1,300 shares during the period. First Trust Direct Indexing L.P. grew its position in shares of U.S. Bancorp by 23.9% in the 1st quarter. First Trust Direct Indexing L.P. now owns 37,007 shares of the financial services provider's stock valued at $1,654,000 after purchasing an additional 7,131 shares during the period. Cornerstone Wealth Management LLC grew its position in shares of U.S. Bancorp by 3.7% in the 1st quarter. Cornerstone Wealth Management LLC now owns 37,790 shares of the financial services provider's stock valued at $1,689,000 after purchasing an additional 1,353 shares during the period. Finally, DMC Group LLC grew its position in shares of U.S. Bancorp by 3.9% in the 1st quarter. DMC Group LLC now owns 15,658 shares of the financial services provider's stock valued at $700,000 after purchasing an additional 587 shares during the period. 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.