Morgan Stanley Lowers U.S. Bancorp (NYSE:USB) Price Target to $50.00

U.S. Bancorp (NYSE:USB - Free Report) had its price target cut by Morgan Stanley from $51.00 to $50.00 in a research report released on Thursday,Benzinga reports. They currently have an overweight rating on the financial services provider's stock.

A number of other equities analysts have also recently issued reports on USB. Keefe, Bruyette & Woods cut their target price on U.S. Bancorp from $54.00 to $49.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Bank of America decreased their price target on U.S. Bancorp from $50.00 to $49.00 and set a "buy" rating for the company in a research 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 research report on Thursday, April 3rd. Piper Sandler raised U.S. Bancorp from a "neutral" rating to an "overweight" rating and set a $58.00 target price for the company in a research report on Monday, January 13th. Finally, 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 research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of "Moderate Buy" and an average price target of $50.66.

U.S. Bancorp Trading Up 3.2 %

Shares of USB traded up $1.20 during mid-day trading on Thursday, reaching $39.01. 8,295,614 shares of the company were exchanged, compared to its average volume of 9,026,840. The stock has a market capitalization of $60.78 billion, a PE ratio of 10.29, a PEG ratio of 1.73 and a beta of 0.91. U.S. Bancorp has a 52 week low of $35.18 and a 52 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. The business has a 50 day simple moving average of $42.35 and a two-hundred day simple moving average of $46.76.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.06. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The company had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.92 billion. During the same period in the previous year, the business earned $0.78 EPS. On average, analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.13%. The ex-dividend date was Monday, March 31st. U.S. Bancorp's payout ratio is presently 49.50%.

Insider Buying and Selling at U.S. Bancorp

In related 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 transaction of $4,821,579.00. Following the sale, the chief executive officer now owns 1,230,316 shares of the company's stock, valued at $58,132,431. The trade was a 7.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Aleem Gillani purchased 5,000 shares of the company's stock in a transaction dated Monday, April 21st. The stock was bought at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $559,800. This represents a 50.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 219,812 shares of company stock valued at $10,385,665. 0.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On U.S. Bancorp

Several institutional investors and hedge funds have recently modified their holdings of USB. Vanguard Group Inc. lifted its position in U.S. Bancorp by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider's stock valued at $6,640,569,000 after acquiring an additional 1,079,056 shares in the last quarter. FMR LLC boosted its holdings in shares of U.S. Bancorp by 5.0% in the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock worth $3,210,624,000 after buying an additional 3,211,815 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of U.S. Bancorp by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider's stock valued at $2,381,443,000 after acquiring an additional 2,460,845 shares during the period. Geode Capital Management LLC increased its position in U.S. Bancorp by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 33,937,360 shares of the financial services provider's stock worth $1,618,948,000 after buying an additional 850,763 shares in the last quarter. Finally, Amundi lifted its holdings in U.S. Bancorp by 7.4% during the fourth quarter. Amundi now owns 19,485,615 shares of the financial services provider's stock valued at $945,268,000 after purchasing an additional 1,341,407 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

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.