U.S. Bancorp (NYSE:USB) Given New $51.00 Price Target at Truist Financial

U.S. Bancorp (NYSE:USB) had its price target decreased by Truist Financial from $54.00 to $51.00 in a report released on Friday,Benzinga reports. Truist Financial currently has a hold rating on the financial services provider’s stock.

USB has been the topic of a number of other reports. Wells Fargo & Company reduced their price objective on U.S. Bancorp from $62.00 to $56.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price target for the stock from $58.00 to $60.00 in a research report on Thursday, January 2nd. Barclays increased their price objective on U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. The Goldman Sachs Group decreased their target price on shares of U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Finally, Morgan Stanley dropped their price target on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $52.89.

U.S. Bancorp Stock Down 5.2 %

Shares of USB opened at $36.78 on Friday. U.S. Bancorp has a 1 year low of $35.74 and a 1 year high of $53.98. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The stock has a 50 day simple moving average of $44.92 and a two-hundred day simple moving average of $47.44. The firm has a market cap of $57.30 billion, a P/E ratio of 9.70, a P/E/G ratio of 1.73 and a beta of 0.91.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $7 billion. During the same quarter in the prior year, the company earned $0.99 EPS. The firm’s revenue was up 3.7% on a year-over-year basis. On average, analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

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

Insiders Place Their Bets

In related news, insider Jodi L. Richard sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $47.59, for a total value of $1,427,700.00. Following the sale, the insider now owns 99,790 shares in the company, valued at $4,749,006.10. This represents a 23.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value 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. This trade represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On U.S. Bancorp

Institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC bought a new position in U.S. Bancorp in the 4th quarter worth about $1,018,000. Vanguard Group Inc. raised its holdings in U.S. Bancorp by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider’s stock worth $6,640,569,000 after buying an additional 1,079,056 shares during the last quarter. M&T Bank Corp lifted its stake in shares of U.S. Bancorp by 2.8% in the third quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock worth $38,704,000 after buying an additional 22,803 shares in the last quarter. D.A. Davidson & CO. grew its holdings in shares of U.S. Bancorp by 11.3% during the fourth quarter. D.A. Davidson & CO. now owns 380,767 shares of the financial services provider’s stock valued at $18,212,000 after buying an additional 38,802 shares during the last quarter. Finally, Keystone Financial Planning Inc. increased its position in shares of U.S. Bancorp by 29.5% during the fourth quarter. Keystone Financial Planning Inc. now owns 72,614 shares of the financial services provider’s stock valued at $3,473,000 after acquiring an additional 16,552 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

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.