U.S. Bancorp (NYSE:USB) Given New $51.00 Price Target at Truist Financial

U.S. Bancorp (NYSE:USB - Free Report) had its price target trimmed by Truist Financial from $54.00 to $51.00 in a research note published on Friday,Benzinga reports. The brokerage currently has a hold rating on the financial services provider's stock.

A number of other equities research analysts have also issued reports on USB. Bank of America cut their price target on shares of U.S. Bancorp from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Monday, March 17th. JPMorgan Chase & Co. restated an "underweight" rating and set a $43.50 price target (down previously from $51.00) on shares of U.S. Bancorp in a report on Thursday, April 3rd. Morgan Stanley dropped their price objective on U.S. Bancorp from $60.00 to $59.00 and set an "overweight" rating for the company in a report on Friday, January 17th. Barclays boosted their target price 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. Finally, Raymond James raised U.S. Bancorp from a "market perform" rating to an "outperform" rating and set a $57.00 price target for the company in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $52.52.

U.S. Bancorp Trading Up 8.0 %

U.S. Bancorp stock traded up $2.93 during mid-day trading on Friday, hitting $39.33. The company's stock had a trading volume of 22,909,077 shares, compared to its average volume of 8,868,971. The business has a 50 day moving average price of $44.19 and a 200-day moving average price of $47.23. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The stock has a market cap of $61.28 billion, a price-to-earnings ratio of 10.38, a price-to-earnings-growth ratio of 1.73 and a beta of 0.91. 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 released its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts' consensus estimates 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 12.94% and a net margin of 14.75%. U.S. Bancorp's revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.99 EPS. As a group, analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The business 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. This represents a $2.00 annualized dividend and a yield of 5.09%. The ex-dividend date of this dividend is Monday, March 31st. U.S. Bancorp's dividend payout ratio (DPR) is 52.77%.

Insider Transactions at U.S. Bancorp

In related news, EVP James L. Chosy sold 21,451 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total value of $1,022,140.15. Following the completion of the transaction, the executive vice president now directly owns 198,127 shares in the company, valued at $9,440,751.55. The trade was a 9.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jodi L. Richard sold 30,000 shares of the company's stock in a transaction 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 transaction, the insider now directly owns 99,790 shares in the company, valued at approximately $4,749,006.10. The trade was a 23.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 219,812 shares of company stock valued at $10,385,665. Insiders own 0.23% of the company's stock.

Hedge Funds Weigh In On U.S. Bancorp

A number of hedge funds have recently bought and sold shares of USB. Bank & Trust Co grew its stake in shares of U.S. Bancorp by 885.6% in the first quarter. Bank & Trust Co now owns 3,499 shares of the financial services provider's stock worth $148,000 after acquiring an additional 3,144 shares during the period. Sentry Investment Management LLC purchased a new stake in U.S. Bancorp in the first quarter worth approximately $212,000. RFG Advisory LLC grew its position in U.S. Bancorp by 8.8% in the 1st quarter. RFG Advisory LLC now owns 15,971 shares of the financial services provider's stock worth $674,000 after purchasing an additional 1,296 shares during the period. InvesTrust raised its stake in U.S. Bancorp by 0.7% during the 1st quarter. InvesTrust now owns 136,730 shares of the financial services provider's stock valued at $5,773,000 after buying an additional 892 shares during the last quarter. Finally, HBW Advisory Services LLC lifted its holdings in shares of U.S. Bancorp by 16.3% during the 1st quarter. HBW Advisory Services LLC now owns 53,608 shares of the financial services provider's stock valued at $2,263,000 after buying an additional 7,520 shares during the period. Hedge funds and other institutional investors own 77.60% of the company's stock.

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.