U.S. Bancorp (NYSE:USB) Hits New 12-Month Low Following Analyst Downgrade

U.S. Bancorp (NYSE:USB) shares reached a new 52-week low on Friday after Truist Financial lowered their price target on the stock from $54.00 to $51.00. Truist Financial currently has a hold rating on the stock. U.S. Bancorp traded as low as $36.56 and last traded at $36.82, with a volume of 1178905 shares traded. The stock had previously closed at $38.79.

USB has been the subject of several other reports. JPMorgan Chase & Co. reaffirmed 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. Wolfe Research upgraded U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 price objective on the stock in a research note on Thursday. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a research report on Monday, January 13th. Raymond James raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a report on Thursday, December 19th. Finally, Oppenheimer upped their price target on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.89.

Insider Transactions at U.S. Bancorp

In other news, insider Jodi L. Richard sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the completion of the sale, the insider now 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Terrance R. Dolan sold 66,317 shares of the business’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 value of $3,114,246.32. Following the completion of the transaction, the insider now directly owns 209,482 shares in the company, valued at $9,837,274.72. The trade was a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 219,812 shares of company stock valued at $10,385,665. Corporate insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On U.S. Bancorp

Several institutional investors have recently bought and sold shares of the business. J.Safra Asset Management Corp acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at $26,000. Winch Advisory Services LLC increased its position in U.S. Bancorp by 1,088.9% in the 4th quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 490 shares in the last quarter. FPC Investment Advisory Inc. bought a new position in shares of U.S. Bancorp in the fourth quarter worth about $28,000. Global Wealth Strategies & Associates lifted its position in shares of U.S. Bancorp by 70.8% during the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 250 shares in the last quarter. Finally, Stonebridge Financial Group LLC bought a new stake in shares of U.S. Bancorp during the fourth quarter valued at approximately $30,000. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Down 5.2 %

The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The business’s fifty day moving average is $44.92 and its two-hundred day moving average is $47.43. The firm has a market cap of $57.30 billion, a price-to-earnings ratio of 9.70, a price-to-earnings-growth ratio of 1.73 and a beta of 0.91.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The company had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. During the same quarter in the previous year, the company posted $0.99 earnings per share. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. Equities analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.44%. The ex-dividend date is Monday, March 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

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.