Morgan Stanley Cuts U.S. Bancorp (NYSE:USB) Price Target to $59.00

U.S. Bancorp (NYSE:USB) had its target price cut by Morgan Stanley from $60.00 to $59.00 in a research report released on Friday morning,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

USB has been the topic of a number of other research reports. Truist Financial assumed coverage on U.S. Bancorp in a report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 target price on the stock. Stephens increased their target price on U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Compass Point increased their target price on U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price on the stock in a report on Monday, January 13th. Finally, Citigroup raised U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their target price for the company from $49.00 to $65.00 in a report on Monday, November 25th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.21.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock opened at $48.40 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The company has a market cap of $75.50 billion, a PE ratio of 14.80, a P/E/G ratio of 2.47 and a beta of 1.05. The business has a 50 day moving average of $50.18 and a 200 day moving average of $46.83. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.99 earnings per share. As a group, equities research analysts forecast that U.S. Bancorp will post 3.91 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 annualized dividend and a yield of 4.13%. U.S. Bancorp’s payout ratio is presently 61.16%.

Institutional Trading of U.S. Bancorp

Large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new position in shares of U.S. Bancorp in the 2nd quarter valued at about $9,198,000. Mercer Global Advisors Inc. ADV raised its holdings in U.S. Bancorp by 4.3% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 180,386 shares of the financial services provider’s stock worth $7,757,000 after purchasing an additional 7,481 shares during the period. Seven Eight Capital LP acquired a new position in U.S. Bancorp in the 2nd quarter worth about $1,170,000. Brighton Jones LLC raised its holdings in U.S. Bancorp by 55.8% in the 2nd quarter. Brighton Jones LLC now owns 43,343 shares of the financial services provider’s stock worth $1,721,000 after purchasing an additional 15,531 shares during the period. Finally, Ieq Capital LLC raised its holdings in U.S. Bancorp by 17.7% in the 2nd quarter. Ieq Capital LLC now owns 64,479 shares of the financial services provider’s stock worth $2,560,000 after purchasing an additional 9,704 shares during the period. 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.