Morgan Stanley Has Lowered Expectations for U.S. Bancorp (NYSE:USB) Stock Price

U.S. Bancorp (NYSE:USB) had its price objective lowered by Morgan Stanley from $60.00 to $59.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

USB has been the topic of a number of other reports. Robert W. Baird set a $54.00 price target on U.S. Bancorp in a research note on Thursday, October 17th. Truist Financial began coverage on U.S. Bancorp in a research note on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price target on the stock. DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price target for the company from $58.00 to $60.00 in a research note on Thursday, January 2nd. Stephens increased their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, Compass Point upped their price target on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.21.

U.S. Bancorp Price Performance

USB stock opened at $48.40 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The business has a 50 day simple moving average of $50.18 and a 200-day simple moving average of $46.83. The firm has a market capitalization of $75.50 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05. U.S. Bancorp has a 1 year low of $37.81 and a 1 year high of $53.98.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.01. The company had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.99 earnings per share. Equities research analysts anticipate that U.S. Bancorp will post 3.91 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.50 per share. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.13%. U.S. Bancorp’s dividend payout ratio is currently 61.16%.

Institutional Investors Weigh In On U.S. Bancorp

Hedge funds have recently modified their holdings of the company. Winch Advisory Services LLC boosted its stake in shares of U.S. Bancorp by 1,088.9% during the 4th quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 490 shares during the last quarter. Frazier Financial Advisors LLC boosted its position in shares of U.S. Bancorp by 222.7% in the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 441 shares during the last quarter. Global Wealth Strategies & Associates boosted its position in shares of U.S. Bancorp by 70.8% in the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 250 shares during the last quarter. Albion Financial Group UT boosted its position in shares of U.S. Bancorp by 92.8% in the fourth quarter. Albion Financial Group UT now owns 696 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 335 shares during the last quarter. Finally, Global Trust Asset Management LLC acquired a new stake in shares of U.S. Bancorp in the fourth quarter worth approximately $33,000. 77.60% of the stock is owned by institutional investors and hedge funds.

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.