U.S. Bancorp (NYSE:USB) Stock Price Down 4.2%

Shares of U.S. Bancorp (NYSE:USB) dropped 4.2% on Wednesday . The stock traded as low as $35.35 and last traded at $35.44. Approximately 5,003,905 shares were traded during trading, a decline of 64% from the average daily volume of 13,992,946 shares. The stock had previously closed at $37.00.

Analyst Ratings Changes

Several equities research analysts have issued reports on USB shares. Credit Suisse Group reaffirmed a “neutral” rating and set a $44.00 price target on shares of U.S. Bancorp in a research report on Thursday, July 20th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $45.00 price target on shares of U.S. Bancorp in a research note on Friday, August 4th. Barclays dropped their price objective on shares of U.S. Bancorp from $52.00 to $48.00 in a report on Tuesday, June 27th. DA Davidson upped their target price on shares of U.S. Bancorp from $39.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, July 24th. Finally, StockNews.com assumed coverage on U.S. Bancorp in a research note on Thursday, August 17th. They issued a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp has a consensus rating of “Hold” and an average target price of $46.71.

U.S. Bancorp Trading Up 1.6 %

The company has a market capitalization of $54.76 billion, a price-to-earnings ratio of 9.89, a P/E/G ratio of 1.58 and a beta of 0.98. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.80 and a quick ratio of 0.80. The business’s 50-day moving average price is $37.18 and its two-hundred day moving average price is $35.34.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, July 19th. The financial services provider reported $1.12 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.01). The firm had revenue of $7.17 billion during the quarter, compared to analyst estimates of $7.17 billion. U.S. Bancorp had a net margin of 16.59% and a return on equity of 16.53%. U.S. Bancorp’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.09 earnings per share. Research analysts predict that U.S. Bancorp will post 4.44 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.92 annualized dividend and a dividend yield of 5.38%. U.S. Bancorp’s payout ratio is 53.19%.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Timothy A. Welsh sold 13,816 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $39.79, for a total transaction of $549,738.64. Following the completion of the transaction, the insider now owns 119,058 shares of the company’s stock, valued at $4,737,317.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Timothy A. Welsh sold 13,816 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $39.79, for a total transaction of $549,738.64. Following the completion of the transaction, the insider now directly owns 119,058 shares in the company, valued at approximately $4,737,317.82. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Terrance R. Dolan sold 26,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $39.75, for a total transaction of $1,033,500.00. Following the completion of the sale, the chief financial officer now owns 166,992 shares in the company, valued at approximately $6,637,932. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

Hedge Funds Weigh In On U.S. Bancorp

Large investors have recently bought and sold shares of the company. IMS Capital Management boosted its position in U.S. Bancorp by 211.6% during the 2nd quarter. IMS Capital Management now owns 49,923 shares of the financial services provider’s stock worth $1,649,000 after buying an additional 33,900 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of U.S. Bancorp by 26.0% during the second quarter. Farther Finance Advisors LLC now owns 3,435 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 709 shares during the period. Tucker Asset Management LLC grew its stake in shares of U.S. Bancorp by 12.3% in the second quarter. Tucker Asset Management LLC now owns 4,277 shares of the financial services provider’s stock worth $141,000 after purchasing an additional 469 shares during the last quarter. ST Germain D J Co. Inc. bought a new position in U.S. Bancorp during the 2nd quarter worth $247,000. Finally, Portside Wealth Group LLC acquired a new position in U.S. Bancorp during the 2nd quarter worth about $1,350,000. 75.40% 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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.