Royal Bank of Canada Lowers U.S. Bancorp (NYSE:USB) Price Target to $50.00

U.S. Bancorp (NYSE:USB) had its price objective decreased by Royal Bank of Canada from $57.00 to $50.00 in a research report sent to investors on Thursday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the financial services provider’s stock.

A number of other equities analysts have also recently issued reports on USB. Citigroup decreased their target price on U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Bank of America dropped their price target on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Monday, March 17th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $43.50 price objective (down from $51.00) on shares of U.S. Bancorp in a research note on Thursday, April 3rd. Truist Financial dropped their target price on shares of U.S. Bancorp from $51.00 to $48.00 and set a “hold” rating on the stock in a research report on Thursday. Finally, Raymond James upgraded shares of 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 report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.66.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock opened at $38.21 on Thursday. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The company’s 50-day moving average price is $42.73 and its two-hundred day moving average price is $46.81. The stock has a market cap of $59.53 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 1.73 and a beta of 0.91.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.06. The business had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.92 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. During the same period in the previous year, the firm earned $0.78 EPS. As a group, sell-side analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.50 per share. The ex-dividend date was Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.23%. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, CEO Andrew Cecere sold 102,044 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total value of $4,821,579.00. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James L. Chosy sold 21,451 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 198,127 shares in the company, valued at approximately $9,440,751.55. This represents a 9.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 219,812 shares of company stock valued at $10,385,665. Insiders own 0.23% of the company’s stock.

Institutional Trading of U.S. Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the company. Morse Asset Management Inc bought a new position in U.S. Bancorp in the 3rd quarter worth $229,000. M&T Bank Corp boosted its holdings in U.S. Bancorp by 2.8% during the third 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 during the period. Wealthquest Corp acquired a new stake in shares of U.S. Bancorp in the third quarter valued at about $1,160,000. Pine Valley Investments Ltd Liability Co bought a new position in shares of U.S. Bancorp in the third quarter worth about $229,000. Finally, World Investment Advisors LLC lifted its position in shares of U.S. Bancorp by 6.0% during the 3rd quarter. World Investment Advisors LLC now owns 52,619 shares of the financial services provider’s stock worth $2,406,000 after purchasing an additional 2,988 shares during 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.