Oppenheimer Trims U.S. Bancorp (NYSE:USB) Target Price to $54.00

U.S. Bancorp (NYSE:USB) had its target price trimmed by Oppenheimer from $55.00 to $54.00 in a report released on Thursday, Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

USB has been the topic of a number of other reports. Royal Bank of Canada upped their price target on U.S. Bancorp from $43.00 to $47.00 and gave the stock an outperform rating in a research note on Thursday, January 18th. StockNews.com cut U.S. Bancorp from a hold rating to a sell rating in a research note on Tuesday, February 20th. Morgan Stanley upped their price target on U.S. Bancorp from $44.00 to $45.00 and gave the stock an equal weight rating in a research note on Tuesday, January 30th. Piper Sandler restated a neutral rating on shares of U.S. Bancorp in a research note on Friday, January 26th. Finally, Stephens cut U.S. Bancorp from an overweight rating to an equal weight rating in a research note on Wednesday, December 20th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, U.S. Bancorp presently has an average rating of Hold and a consensus target price of $46.14.

U.S. Bancorp Trading Up 2.6 %

USB opened at $40.45 on Thursday. U.S. Bancorp has a one year low of $27.27 and a one year high of $45.85. The stock has a market capitalization of $63.03 billion, a PE ratio of 13.39, a P/E/G ratio of 2.05 and a beta of 1.05. The business’s 50 day moving average price is $42.32 and its 200 day moving average price is $39.84. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The firm had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same period in the prior year, the firm posted $1.16 earnings per share. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. As a group, equities research analysts expect that U.S. Bancorp will post 3.85 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 4.85%. The ex-dividend date of this dividend was Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Terrance R. Dolan sold 26,583 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the transaction, the insider now owns 144,236 shares of the company’s stock, valued at $6,255,515.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other U.S. Bancorp news, insider Terrance R. Dolan sold 26,583 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the transaction, the insider now owns 144,236 shares of the company’s stock, valued at $6,255,515.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP James L. Chosy sold 21,582 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was 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 in the company, valued at approximately $6,837,573.60. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On U.S. Bancorp

Several hedge funds have recently made changes to their positions in the company. Moneta Group Investment Advisors LLC boosted its stake in shares of U.S. Bancorp by 130,768.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 60,273,882 shares of the financial services provider’s stock worth $2,628,544,000 after buying an additional 60,227,825 shares during the period. Mufg Bank LTD. boosted its stake in shares of U.S. Bancorp by 54.1% during the third quarter. Mufg Bank LTD. now owns 68,374,155 shares of the financial services provider’s stock worth $2,260,450,000 after buying an additional 24,000,000 shares during the period. Norges Bank acquired a new stake in shares of U.S. Bancorp during the fourth quarter worth about $827,370,000. Aristotle Capital Management LLC boosted its stake in shares of U.S. Bancorp by 266.6% during the third quarter. Aristotle Capital Management LLC now owns 23,467,699 shares of the financial services provider’s stock worth $775,842,000 after buying an additional 17,066,479 shares during the period. Finally, Viking Global Investors LP acquired a new stake in shares of U.S. Bancorp during the fourth quarter worth about $414,174,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

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.