U.S. Bancorp (NYSE:USB) Price Target Lowered to $48.00 at Piper Sandler

U.S. Bancorp (NYSE:USB) had its target price reduced by Piper Sandler from $49.00 to $48.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other equities analysts have also recently issued reports on USB. DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their target price for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $43.50 price objective (down from $51.00) on shares of U.S. Bancorp in a report on Thursday, April 3rd. Oppenheimer boosted their target price on U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Bank of America decreased their price target on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Finally, Citigroup cut their price objective on shares of U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, U.S. Bancorp presently has an average rating of “Moderate Buy” and an average price target of $50.66.

U.S. Bancorp Trading Up 1.0 %

NYSE USB opened at $38.21 on Thursday. U.S. Bancorp has a one year low of $35.18 and a one 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 firm has a market cap of $59.53 billion, a P/E ratio of 10.08, a P/E/G ratio of 1.73 and a beta of 0.91. The stock’s 50-day moving average is $42.73 and its 200-day moving average is $46.81.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share 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 firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.92 billion. During the same quarter in the previous year, the firm posted $0.78 earnings per share. Sell-side analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.23%. The ex-dividend date was Monday, March 31st. U.S. Bancorp’s payout ratio is presently 52.77%.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp 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 value of $1,427,700.00. Following the transaction, the insider now directly owns 99,790 shares of the company’s stock, valued at $4,749,006.10. This represents a 23.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 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 owns 209,482 shares of the company’s stock, 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. In the last 90 days, insiders sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Morse Asset Management Inc bought a new position in U.S. Bancorp during the third quarter worth about $229,000. M&T Bank Corp grew its position in shares of U.S. Bancorp by 2.8% during the 3rd quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock worth $38,704,000 after purchasing an additional 22,803 shares in the last quarter. Wealthquest Corp bought a new position in shares of U.S. Bancorp during the third quarter worth approximately $1,160,000. Pine Valley Investments Ltd Liability Co acquired a new stake in shares of U.S. Bancorp in the third quarter valued at approximately $229,000. Finally, World Investment Advisors LLC boosted its stake in shares of U.S. Bancorp by 6.0% in the third quarter. World Investment Advisors LLC now owns 52,619 shares of the financial services provider’s stock valued at $2,406,000 after buying an additional 2,988 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

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.