Wells Fargo & Company Trims U.S. Bancorp (NYSE:USB) Target Price to $48.00

U.S. Bancorp (NYSE:USB) had its price target reduced by Wells Fargo & Company from $50.00 to $48.00 in a research note released on Thursday, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Other research analysts have also recently issued research reports about the stock. StockNews.com cut shares of U.S. Bancorp from a hold rating to a sell rating in a report on Tuesday, February 20th. Compass Point upgraded shares of U.S. Bancorp from a neutral rating to a buy rating and upped their price target for the company from $46.00 to $49.00 in a report on Friday, March 22nd. Jefferies Financial Group increased their target price on shares of U.S. Bancorp from $44.00 to $46.00 and gave the stock a hold rating in a report on Monday, April 8th. Piper Sandler restated a neutral rating on shares of U.S. Bancorp in a report on Friday, January 26th. Finally, UBS Group increased their target price on shares of U.S. Bancorp from $35.00 to $48.00 and gave the stock a neutral rating in a report on Wednesday, January 17th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, U.S. Bancorp has a consensus rating of Hold and an average price target of $46.91.

U.S. Bancorp Stock Down 0.2 %

U.S. Bancorp stock opened at $39.44 on Thursday. The company’s 50 day simple moving average is $42.31 and its 200 day simple moving average is $39.72. U.S. Bancorp has a fifty-two week low of $27.27 and a fifty-two week high of $45.85. The firm has a market capitalization of $61.45 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 2.04 and a beta of 1.05. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.01. The business had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.71 billion. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. U.S. Bancorp’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.16 EPS. As a group, sell-side analysts anticipate that U.S. Bancorp will post 3.87 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 4.97%. The ex-dividend date of this dividend was Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 64.90%.

Insider Activity

In other news, EVP James L. Chosy sold 21,582 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the transaction, the executive vice president now directly owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP James L. Chosy sold 21,582 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the transaction, the executive vice president now directly owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Terrance R. Dolan sold 26,583 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the completion of the transaction, the insider now directly owns 144,236 shares in the company, valued at $6,255,515.32. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On U.S. Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the business. Vestcor Inc grew its stake in shares of U.S. Bancorp by 0.7% in the fourth quarter. Vestcor Inc now owns 33,480 shares of the financial services provider’s stock valued at $1,460,000 after acquiring an additional 230 shares in the last quarter. Vestor Capital LLC grew its stake in shares of U.S. Bancorp by 1.5% in the fourth quarter. Vestor Capital LLC now owns 17,179 shares of the financial services provider’s stock valued at $744,000 after acquiring an additional 253 shares in the last quarter. Mosaic Family Wealth Partners LLC grew its stake in shares of U.S. Bancorp by 1.4% in the fourth quarter. Mosaic Family Wealth Partners LLC now owns 19,223 shares of the financial services provider’s stock valued at $832,000 after acquiring an additional 265 shares in the last quarter. Wealth Alliance grew its stake in shares of U.S. Bancorp by 0.5% in the fourth quarter. Wealth Alliance now owns 49,229 shares of the financial services provider’s stock valued at $2,131,000 after acquiring an additional 266 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of U.S. Bancorp by 3.0% in the first quarter. Acadian Asset Management LLC now owns 9,397 shares of the financial services provider’s stock valued at $499,000 after acquiring an additional 276 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

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.