U.S. Bancorp (NYSE:USB) Sets New 12-Month Low on Analyst Downgrade

U.S. Bancorp (NYSE:USB) reached a new 52-week low during 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.

Other equities analysts have also issued reports about the company. Oppenheimer boosted their target price on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Compass Point boosted their price target on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $43.50 price objective (down previously from $51.00) on shares of U.S. Bancorp in a research note on Thursday. Piper Sandler raised 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. Finally, Raymond James raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.89.

Insider Buying and Selling at U.S. Bancorp

In related news, insider Jodi L. Richard sold 30,000 shares of the business’s stock in a transaction on 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 transaction, the insider now directly owns 99,790 shares in the company, valued at approximately $4,749,006.10. The trade was a 23.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the sale, the insider now directly owns 209,482 shares in the company, valued at $9,837,274.72. This trade represents a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 219,812 shares of company stock worth $10,385,665 over the last ninety days. 0.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On U.S. Bancorp

A number of institutional investors have recently bought and sold shares of USB. Capital Performance Advisors LLP boosted its stake in shares of U.S. Bancorp by 2.6% during the 4th quarter. Capital Performance Advisors LLP now owns 8,188 shares of the financial services provider’s stock worth $392,000 after acquiring an additional 210 shares during the period. HCR Wealth Advisors boosted its position in U.S. Bancorp by 1.1% during the fourth quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider’s stock worth $962,000 after purchasing an additional 211 shares during the period. Covestor Ltd increased its holdings in shares of U.S. Bancorp by 12.3% in the fourth quarter. Covestor Ltd now owns 1,955 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 214 shares during the last quarter. Priebe Wealth Holdings LLC raised its position in shares of U.S. Bancorp by 4.4% in the fourth quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider’s stock valued at $243,000 after purchasing an additional 215 shares during the period. Finally, Essex Savings Bank lifted its stake in shares of U.S. Bancorp by 1.8% during the 4th quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider’s stock worth $591,000 after buying an additional 216 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

The firm has a market cap of $57.30 billion, a price-to-earnings 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 stock’s 50 day moving average is $44.92 and its 200 day moving average is $47.43.

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

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.44%. U.S. Bancorp’s 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.