Bank of America Has Lowered Expectations for U.S. Bancorp (NYSE:USB) Stock Price

U.S. Bancorp (NYSE:USB - Free Report) had its price target cut by Bank of America from $50.00 to $49.00 in a research report report published on Monday,Benzinga reports. They currently have a buy rating on the financial services provider's stock.

A number of other research analysts have also recently weighed in on the stock. Raymond James raised shares of U.S. Bancorp from a "market perform" rating to an "outperform" rating and set a $57.00 price objective for the company in a report on Thursday, December 19th. Oppenheimer lifted their price objective 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. Barclays lifted their price objective on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an "overweight" rating in a report on Monday, January 6th. Citigroup raised shares of U.S. Bancorp from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $49.00 to $65.00 in a report on Monday, November 25th. Finally, Truist Financial initiated coverage on shares of U.S. Bancorp in a report on Tuesday, January 7th. They issued a "hold" rating and a $54.00 price objective for the company. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, U.S. Bancorp currently has an average rating of "Moderate Buy" and an average target price of $53.98.

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U.S. Bancorp Stock Performance

NYSE USB traded up $0.05 on Monday, reaching $42.23. 13,724,713 shares of the company's stock traded hands, compared to its average volume of 7,809,991. The firm has a market cap of $65.80 billion, a price-to-earnings ratio of 11.14, a P/E/G ratio of 1.73 and a beta of 1.02. The stock has a 50 day moving average price of $46.63 and a 200-day moving average price of $47.73. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81.

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

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 4.74%. U.S. Bancorp's payout ratio is 52.77%.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, CEO Andrew Cecere sold 102,044 shares of the business's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total value of $4,821,579.00. Following the transaction, the chief executive officer now directly owns 1,230,316 shares in the company, valued at $58,132,431. The trade was a 7.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP James L. Chosy sold 21,451 shares of the business's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the completion of the transaction, the executive vice president now owns 198,127 shares in the company, valued at $9,440,751.55. The trade was a 9.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 219,812 shares of company stock worth $10,385,665 in the last ninety days. 0.23% of the stock is owned by insiders.

Hedge Funds Weigh In On U.S. Bancorp

Large investors have recently made changes to their positions in the stock. J.Safra Asset Management Corp acquired a new position in shares of U.S. Bancorp in the 4th quarter worth approximately $26,000. Winch Advisory Services LLC lifted its holdings in shares of 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 worth $26,000 after acquiring an additional 490 shares during the last quarter. FPC Investment Advisory Inc. acquired a new position in shares of U.S. Bancorp in the 4th quarter worth approximately $28,000. Global Wealth Strategies & Associates lifted its holdings in shares of U.S. Bancorp by 70.8% in the 4th 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. Finally, Stonebridge Financial Group LLC acquired a new position in shares of U.S. Bancorp in the 4th quarter worth approximately $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.