Morgan Stanley Cuts U.S. Bancorp (NYSE:USB) Price Target to $51.00

U.S. Bancorp (NYSE:USB - Free Report) had its target price cut by Morgan Stanley from $55.00 to $51.00 in a report published on Monday morning,Benzinga reports. They currently have an overweight rating on the financial services provider's stock.

A number of other equities analysts also recently weighed in on USB. Wells Fargo & Company dropped their target price on shares of U.S. Bancorp from $62.00 to $56.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. JPMorgan Chase & Co. restated an "underweight" rating and issued a $43.50 price objective (down previously from $51.00) on shares of U.S. Bancorp in a research report on Thursday, April 3rd. Piper Sandler upgraded U.S. Bancorp from a "neutral" rating to an "overweight" rating and set a $58.00 price objective on the stock in a research report on Monday, January 13th. DA Davidson raised U.S. Bancorp from a "neutral" rating to a "buy" rating and lifted their target price for the company from $58.00 to $60.00 in a research note on Thursday, January 2nd. Finally, Barclays upped their price target on U.S. Bancorp from $57.00 to $61.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, U.S. Bancorp currently has a consensus rating of "Moderate Buy" and an average price target of $52.52.

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U.S. Bancorp Price Performance

Shares of USB traded up $0.60 on Monday, hitting $37.85. The company's stock had a trading volume of 18,550,879 shares, compared to its average volume of 8,981,594. The company has a market capitalization of $58.97 billion, a PE ratio of 9.99, a PEG ratio of 1.73 and a beta of 0.91. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The company has a 50 day moving average price of $43.46 and a 200 day moving average price of $47.02. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its 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 return on equity of 12.94% and a net margin of 14.75%. The company had revenue of $7.01 billion for the quarter, compared to analysts' expectations of $7 billion. During the same quarter in the prior year, the business earned $0.99 earnings per share. The business's revenue for the quarter was up 3.7% on a year-over-year basis. On average, research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.28%. U.S. Bancorp's payout ratio is 52.77%.

Insider Buying and Selling

In other news, insider Jodi L. Richard sold 30,000 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total value of $1,427,700.00. Following the sale, the insider now directly owns 99,790 shares in the company, valued at $4,749,006.10. This trade represents a 23.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction 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 transaction, the insider now owns 209,482 shares of the company's stock, valued at $9,837,274.72. The trade was a 24.05 % decrease in their position. 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. Company insiders own 0.23% of the company's stock.

Institutional Investors Weigh In On U.S. Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Winch Advisory Services LLC raised its holdings in U.S. Bancorp by 1,088.9% during the fourth 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 in the last quarter. J.Safra Asset Management Corp acquired a new position in shares of U.S. Bancorp during the 4th quarter worth approximately $26,000. FPC Investment Advisory Inc. bought a new stake in shares of U.S. Bancorp during the 4th quarter worth approximately $28,000. Global Wealth Strategies & Associates boosted 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 valued at $29,000 after buying an additional 250 shares during the last quarter. Finally, Stonebridge Financial Group LLC bought a new position in shares of U.S. Bancorp in the fourth quarter valued at $30,000. 77.60% of the stock is owned by institutional investors.

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.