DA Davidson Cuts U.S. Bancorp (NYSE:USB) Price Target to $44.00

U.S. Bancorp (NYSE:USB) had its target price lowered by DA Davidson from $45.00 to $44.00 in a report issued on Thursday, Benzinga reports. DA Davidson currently has a neutral rating on the financial services provider’s stock. DA Davidson also issued estimates for U.S. Bancorp’s Q2 2024 earnings at $0.95 EPS and FY2024 earnings at $3.88 EPS.

A number of other equities research analysts also recently commented on USB. HSBC upgraded U.S. Bancorp from a hold rating to a buy rating and increased their price objective for the company from $47.00 to $53.00 in a research report on Thursday, March 28th. Piper Sandler reiterated a neutral rating on shares of U.S. Bancorp in a research report on Friday, January 26th. Wells Fargo & Company cut their price objective on U.S. Bancorp from $50.00 to $48.00 and set an overweight rating for the company in a research report on Thursday. Jefferies Financial Group increased their target price on U.S. Bancorp from $44.00 to $46.00 and gave the company a hold rating in a report on Monday, April 8th. Finally, UBS Group increased their target price on U.S. Bancorp from $35.00 to $48.00 and gave the company a neutral rating in a report on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $46.14.

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $40.45 on Thursday. The stock has a fifty day moving average price of $42.32 and a two-hundred day moving average price of $39.84. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82. The firm has a market cap of $63.03 billion, a P/E ratio of 13.39, a PEG ratio of 2.05 and a beta of 1.05. U.S. Bancorp has a 1 year low of $27.27 and a 1 year high of $45.85.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The company had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. Research analysts forecast that U.S. Bancorp will post 3.85 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

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

Insider Buying and Selling

In related news, EVP James L. Chosy sold 21,582 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction of $895,005.54. Following the completion of the sale, 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 SEC, which is available through this hyperlink. In other U.S. Bancorp news, insider Terrance R. Dolan sold 26,583 shares of the stock in a transaction on 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 directly owns 144,236 shares of the company’s stock, valued at $6,255,515.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP James L. Chosy sold 21,582 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction of $895,005.54. Following the transaction, the executive vice president now directly owns 164,880 shares in the company, valued at $6,837,573.60. The disclosure for this sale can be found here. 0.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On U.S. Bancorp

Several hedge funds have recently bought and sold shares of the business. CGC Financial Services LLC acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at about $25,000. BKM Wealth Management LLC acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at about $26,000. Planned Solutions Inc. acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at about $27,000. Legacy Financial Group LLC acquired a new stake in shares of U.S. Bancorp in the third quarter valued at about $30,000. Finally, Naples Money Management LLC acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at about $30,000. 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.