U.S. Bancorp (NYSE:USB) Sets New 52-Week Low on Analyst Downgrade

U.S. Bancorp (NYSE:USB - Get Free Report)'s share price hit a new 52-week low during trading on Friday after Morgan Stanley lowered their price target on the stock from $55.00 to $51.00. Morgan Stanley currently has an overweight rating on the stock. U.S. Bancorp traded as low as $36.56 and last traded at $36.82, with a volume of 1178905 shares. The stock had previously closed at $38.79.

A number of other brokerages also recently weighed in on USB. JPMorgan Chase & Co. restated an "underweight" rating and issued a $43.50 target price (down previously from $51.00) on shares of U.S. Bancorp in a research note on Thursday, April 3rd. Wolfe Research raised U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 target price for the company in a research report on Thursday, April 3rd. Barclays lifted their price objective on U.S. Bancorp from $57.00 to $61.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Oppenheimer increased their target price on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an "outperform" rating in a research report on Friday, January 17th. Finally, Citigroup reduced their price objective on shares of U.S. Bancorp from $65.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, March 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, U.S. Bancorp has a consensus rating of "Moderate Buy" and an average target price of $52.52.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, EVP James L. Chosy sold 21,451 shares of the firm's stock in a transaction 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 sale, the executive vice president now owns 198,127 shares of the company's stock, valued at $9,440,751.55. This trade represents 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, CEO Andrew Cecere sold 102,044 shares of the stock in a transaction dated Tuesday, February 4th. The stock was 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 approximately $58,132,431. This represents a 7.66 % decrease in their ownership of the stock. 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 currently owned by insiders.

Institutional Trading of U.S. Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new stake in shares of U.S. Bancorp during the 4th quarter valued at about $1,018,000. Vanguard Group Inc. lifted its holdings in U.S. Bancorp by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider's stock worth $6,640,569,000 after buying an additional 1,079,056 shares during the period. M&T Bank Corp boosted its position in U.S. Bancorp by 2.8% during the 3rd quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider's stock valued at $38,704,000 after acquiring an additional 22,803 shares in the last quarter. D.A. Davidson & CO. raised its position in shares of U.S. Bancorp by 11.3% in the 4th quarter. D.A. Davidson & CO. now owns 380,767 shares of the financial services provider's stock worth $18,212,000 after acquiring an additional 38,802 shares in the last quarter. Finally, Keystone Financial Planning Inc. lifted its stake in shares of U.S. Bancorp by 29.5% in the 4th quarter. Keystone Financial Planning Inc. now owns 72,614 shares of the financial services provider's stock valued at $3,473,000 after purchasing an additional 16,552 shares during the period. Hedge funds and other institutional investors own 77.60% of the company's stock.

U.S. Bancorp Stock Up 6.2 %

The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $60.20 billion, a P/E ratio of 10.26, a price-to-earnings-growth ratio of 1.73 and a beta of 0.91. The company has a 50-day moving average of $44.19 and a two-hundred day moving average of $47.23.

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 earnings per share (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 analyst estimates of $7 billion. During the same period last year, the business earned $0.99 EPS. U.S. Bancorp's quarterly revenue was up 3.7% compared to the same quarter last year. On average, research analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 5.18%. U.S. Bancorp's payout ratio is currently 52.77%.

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.