Barclays Cuts U.S. Bancorp (NYSE:USB) Price Target to $52.00

U.S. Bancorp (NYSE:USB) had its price objective lowered by Barclays from $56.00 to $52.00 in a research note released on Thursday, Benzinga reports. Barclays currently has an overweight rating on the financial services provider’s stock.

A number of other analysts have also weighed in on the stock. Oppenheimer cut their target price on shares of U.S. Bancorp from $55.00 to $54.00 and set an outperform rating on the stock in a research report on Thursday. Piper Sandler reaffirmed a neutral rating on shares of U.S. Bancorp in a research note on Friday, January 26th. Compass Point raised shares of U.S. Bancorp from a neutral rating to a buy rating and raised their price target for the company from $46.00 to $49.00 in a research note on Friday, March 22nd. Stephens downgraded shares of U.S. Bancorp from an overweight rating to an equal weight rating in a research note on Wednesday, December 20th. Finally, UBS Group raised their price target on shares of U.S. Bancorp from $35.00 to $48.00 and gave the company a neutral rating in a research note on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $46.14.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $40.45 on Thursday. U.S. Bancorp has a fifty-two week low of $27.27 and a fifty-two week high of $45.85. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81. The firm has a market capitalization of $63.03 billion, a P/E ratio of 13.39, a P/E/G ratio of 2.05 and a beta of 1.05. The company’s 50 day moving average price is $42.32 and its two-hundred day moving average price is $39.84.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same quarter last year, the business posted $1.16 earnings per share. The company’s quarterly revenue was down 6.4% on a year-over-year basis. On average, equities analysts forecast that U.S. Bancorp will post 3.85 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

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

Insiders Place Their Bets

In other U.S. Bancorp news, insider Terrance R. Dolan sold 26,583 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total value of $1,152,904.71. Following the completion of the sale, the insider now directly owns 144,236 shares in the company, valued at $6,255,515.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP James L. Chosy sold 21,582 shares of U.S. Bancorp stock in a transaction dated Friday, February 16th. The shares were 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 $6,837,573.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Terrance R. Dolan sold 26,583 shares of U.S. Bancorp stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total transaction 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.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. CGC Financial Services LLC purchased a new position in U.S. Bancorp during the fourth quarter worth about $25,000. BKM Wealth Management LLC purchased a new position in U.S. Bancorp during the fourth quarter worth about $26,000. Planned Solutions Inc. purchased a new position in U.S. Bancorp during the fourth quarter worth about $27,000. Financial Synergies Wealth Advisors Inc. purchased a new position in U.S. Bancorp during the first quarter worth about $30,000. Finally, Naples Money Management LLC purchased a new position in U.S. Bancorp during the fourth quarter worth about $30,000. 77.60% of the stock is currently 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.