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 reduced by Bank of America from $50.00 to $49.00 in a research note issued to investors on Monday morning,Benzinga reports. Bank of America currently has a buy rating on the financial services provider's stock.

Other research analysts have also issued reports about the company. Barclays raised their price target on U.S. Bancorp from $57.00 to $61.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Oppenheimer boosted their target price on U.S. Bancorp from $62.00 to $63.00 and gave the stock an "outperform" rating in a research report on Friday, January 17th. Citigroup upgraded shares of U.S. Bancorp from a "neutral" rating to a "buy" rating and increased their price target for the company from $49.00 to $65.00 in a research report on Monday, November 25th. DA Davidson raised shares of U.S. Bancorp from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $58.00 to $60.00 in a research note on Thursday, January 2nd. Finally, Piper Sandler raised shares of U.S. Bancorp from a "neutral" rating to an "overweight" rating and set a $58.00 target price for the company in a research note on Monday, January 13th. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $53.93.

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U.S. Bancorp Trading Up 0.8 %

U.S. Bancorp stock traded up $0.35 during mid-day trading on Monday, hitting $42.63. The stock had a trading volume of 6,307,537 shares, compared to its average volume of 7,795,444. The stock has a 50-day simple moving average of $46.63 and a two-hundred day simple moving average of $47.73. 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 capitalization of $66.42 billion, a PE ratio of 11.29, a P/E/G ratio of 1.73 and a beta of 1.02. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $7 billion. During the same quarter in the previous year, the company earned $0.99 EPS. U.S. Bancorp's revenue was up 3.7% on a year-over-year basis. As a group, sell-side analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date of this dividend is Monday, March 31st. U.S. Bancorp's dividend payout ratio is presently 52.77%.

Insider Buying and Selling

In related news, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the completion of the transaction, the insider now directly owns 209,482 shares of the company's stock, valued at approximately $9,837,274.72. This represents a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Cecere sold 102,044 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was 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. This trade represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is owned by insiders.

Institutional Trading of U.S. Bancorp

A number of large investors have recently added to or reduced their stakes in USB. Norges Bank bought a new stake in shares of U.S. Bancorp in the 4th quarter valued at about $777,524,000. FMR LLC increased its position in U.S. Bancorp by 32.7% during the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider's stock worth $2,922,784,000 after buying an additional 15,746,852 shares during the last quarter. Invesco Ltd. raised its stake in U.S. Bancorp by 48.1% in the fourth quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider's stock valued at $802,947,000 after buying an additional 5,449,949 shares during the period. Franklin Resources Inc. lifted its position in shares of U.S. Bancorp by 153.0% in the third quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider's stock valued at $374,573,000 after buying an additional 4,807,662 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of U.S. Bancorp by 414.1% during the 4th quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider's stock worth $276,915,000 after acquiring an additional 4,663,518 shares during the period. Institutional investors and hedge funds own 77.60% of the company's stock.

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.