U.S. Bancorp (NYSE:USB) Given New $55.00 Price Target at Citigroup

U.S. Bancorp (NYSE:USB) had its price objective decreased by Citigroup from $65.00 to $55.00 in a research note released on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the financial services provider’s stock.

Several other equities analysts also recently issued reports on the stock. The Goldman Sachs Group reduced their price objective on shares of U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Compass Point increased their price target on shares of U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price target for the company from $58.00 to $60.00 in a research report on Thursday, January 2nd. Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target for the company in a research report on Monday, January 13th. Finally, Oppenheimer lifted their price objective on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.48.

U.S. Bancorp Trading Up 2.3 %

NYSE:USB opened at $43.81 on Monday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. U.S. Bancorp has a 1 year low of $37.81 and a 1 year high of $53.98. The stock has a fifty day moving average price of $46.21 and a two-hundred day moving average price of $47.63. The stock has a market capitalization of $68.25 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 1.73 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The business had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $0.99 earnings per share. As a group, sell-side analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.57%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Jodi L. Richard sold 30,000 shares of U.S. Bancorp stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the completion of the sale, the insider now owns 99,790 shares of the company’s stock, valued at $4,749,006.10. This trade represents a 23.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP James L. Chosy sold 21,451 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the completion of the transaction, the executive vice president now directly owns 198,127 shares in the company, valued at $9,440,751.55. This trade represents a 9.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Winch Advisory Services LLC raised its holdings in U.S. Bancorp by 1,088.9% during the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after buying an additional 490 shares in the last quarter. J.Safra Asset Management Corp bought a new position in shares of U.S. Bancorp in the 4th quarter valued at approximately $26,000. FPC Investment Advisory Inc. acquired a new stake in U.S. Bancorp in the 4th quarter worth approximately $28,000. Global Wealth Strategies & Associates boosted its position in U.S. Bancorp by 70.8% during the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 250 shares during the period. Finally, Stonebridge Financial Group LLC bought a new stake in U.S. Bancorp during the fourth quarter worth approximately $30,000. 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.