Royal Bank of Canada Issues Pessimistic Forecast for U.S. Bancorp (NYSE:USB) Stock Price

U.S. Bancorp (NYSE:USB - Free Report) had its target price trimmed by Royal Bank of Canada from $57.00 to $50.00 in a report published on Thursday morning,Benzinga reports. They currently have an outperform rating on the financial services provider's stock.

Several other equities research analysts have also commented on USB. Truist Financial cut their target price on U.S. Bancorp from $51.00 to $48.00 and set a "hold" rating on the stock in a research report on Thursday, April 17th. JPMorgan Chase & Co. restated an "underweight" rating and set a $43.50 price target (down from $51.00) on shares of U.S. Bancorp in a report on Thursday, April 3rd. Citigroup cut their target price on shares of U.S. Bancorp from $65.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. Wolfe Research upgraded shares of U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 price objective on the stock in a report on Thursday, April 3rd. Finally, DA Davidson raised U.S. Bancorp from a "neutral" rating to a "buy" rating and boosted their target price for the company from $58.00 to $60.00 in a research report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $50.66.

U.S. Bancorp Trading Up 3.2 %

Shares of U.S. Bancorp stock traded up $1.20 during midday trading on Thursday, reaching $39.01. The company had a trading volume of 8,295,614 shares, compared to its average volume of 9,026,840. The firm has a market cap of $60.78 billion, a PE ratio of 10.29, a P/E/G ratio of 1.73 and a beta of 0.91. The stock has a fifty day moving average price of $42.35 and a 200 day moving average price of $46.76. 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 fifty-two week low of $35.18 and a fifty-two week high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.97 by $0.06. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The company had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.92 billion. During the same period in the prior year, the firm posted $0.78 EPS. On average, equities 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 was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.13%. U.S. Bancorp's payout ratio is presently 49.50%.

Insider Activity at U.S. Bancorp

In related news, insider Jodi L. Richard sold 30,000 shares of the stock in a transaction dated Thursday, February 6th. The shares were 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 owns 99,790 shares in the company, valued at approximately $4,749,006.10. This represents a 23.11 % 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 link. Also, Director Aleem Gillani acquired 5,000 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were bought at an average price of $37.32 per share, with a total value of $186,600.00. Following the acquisition, the director now directly owns 15,000 shares of the company's stock, valued at $559,800. The trade was a 50.00 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 219,812 shares of company stock valued at $10,385,665. 0.23% of the stock is owned by insiders.

Institutional Investors Weigh In On U.S. Bancorp

Several large investors have recently modified their holdings of USB. Cambridge Investment Research Advisors Inc. increased its position in U.S. Bancorp by 8.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 217,657 shares of the financial services provider's stock worth $9,189,000 after buying an additional 17,630 shares during the last quarter. Center for Financial Planning Inc. lifted its holdings in U.S. Bancorp by 5.1% during the first quarter. Center for Financial Planning Inc. now owns 9,493 shares of the financial services provider's stock valued at $401,000 after purchasing an additional 464 shares during the last quarter. Synergy Asset Management LLC boosted its position in U.S. Bancorp by 33,683.8% during the first quarter. Synergy Asset Management LLC now owns 104,392 shares of the financial services provider's stock worth $4,407,000 after purchasing an additional 104,083 shares during the period. Buck Wealth Strategies LLC increased its stake in shares of U.S. Bancorp by 63.2% in the first quarter. Buck Wealth Strategies LLC now owns 22,417 shares of the financial services provider's stock worth $946,000 after purchasing an additional 8,680 shares in the last quarter. Finally, Midwest Financial Group LLC raised its position in shares of U.S. Bancorp by 2.8% in the first quarter. Midwest Financial Group LLC now owns 32,751 shares of the financial services provider's stock valued at $1,383,000 after purchasing an additional 897 shares during the period. Hedge funds and other institutional investors own 77.60% of the company's stock.

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.