Wells Fargo & Company Lowers U.S. Bancorp (NYSE:USB) Price Target to $50.00

U.S. Bancorp (NYSE:USB) had its price objective reduced by Wells Fargo & Company from $56.00 to $50.00 in a report released on Thursday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other equities analysts have also recently issued reports on USB. Citigroup lowered their price objective on 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. DA Davidson raised U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the company from $58.00 to $60.00 in a report on Thursday, January 2nd. Truist Financial decreased their target price on U.S. Bancorp from $51.00 to $48.00 and set a “hold” rating for the company in a research report on Thursday. Oppenheimer raised their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Finally, Bank of America decreased their price objective on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.66.

U.S. Bancorp Trading Up 1.0 %

NYSE USB opened at $38.21 on Thursday. The stock’s fifty day moving average price is $42.73 and its 200-day moving average price is $46.81. 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 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. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.97 by $0.06. The company had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.92 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. During the same period in the prior year, the firm posted $0.78 EPS. As a group, equities analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 5.23%. The ex-dividend date was Monday, March 31st. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Insiders Place Their Bets

In other U.S. Bancorp news, CEO Andrew Cecere sold 102,044 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the sale, the chief executive officer now directly owns 1,230,316 shares of the company’s stock, valued at $58,132,431. This trade represents a 7.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jodi L. Richard sold 30,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 99,790 shares of the company’s stock, valued at approximately $4,749,006.10. This trade represents a 23.11 % decrease in their position. 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 three months. 0.23% of the stock is currently owned by company insiders.

Institutional Trading of U.S. Bancorp

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

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.