U.S. Bancorp (NYSE:USB) Given New $52.00 Price Target at Barclays

U.S. Bancorp (NYSE:USB) had its price objective lowered by Barclays from $56.00 to $52.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

USB has been the topic of a number of other reports. HSBC upgraded U.S. Bancorp from a hold rating to a buy rating and upped their price target for the stock from $47.00 to $53.00 in a research note on Thursday, March 28th. Keefe, Bruyette & Woods reissued a market perform rating and set a $45.00 target price (down previously from $52.00) on shares of U.S. Bancorp in a research note on Thursday. UBS Group lifted their target price on U.S. Bancorp from $35.00 to $48.00 and gave the company a neutral rating in a research report on Wednesday, January 17th. Evercore ISI boosted their price target on shares of U.S. Bancorp from $46.00 to $48.00 and gave the stock an in-line rating in a research note on Thursday, March 28th. Finally, Morgan Stanley raised their price objective on shares of U.S. Bancorp from $44.00 to $45.00 and gave the company an equal weight rating in a research note on Tuesday, January 30th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $46.14.

U.S. Bancorp Stock Up 2.6 %

Shares of USB opened at $40.45 on Thursday. The company’s 50-day moving average price is $42.32 and its 200 day moving average price is $39.90. U.S. Bancorp has a 12-month low of $27.27 and a 12-month high of $45.85. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07. The firm has a market cap of $63.03 billion, a P/E ratio of 13.39, a price-to-earnings-growth ratio of 2.10 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The business had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same period last year, the business earned $1.16 earnings per share. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. On average, sell-side analysts forecast that U.S. Bancorp will post 3.86 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

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

Insider Transactions at U.S. Bancorp

In related news, insider Terrance R. Dolan sold 26,583 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total value of $1,152,904.71. Following the completion of the transaction, the insider now directly owns 144,236 shares of the company’s stock, valued at $6,255,515.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other U.S. Bancorp news, 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 transaction of $895,005.54. Following the transaction, the executive vice president now owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Terrance R. Dolan sold 26,583 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total value of $1,152,904.71. Following the completion of the sale, the insider now directly owns 144,236 shares of the company’s stock, valued at $6,255,515.32. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. BCK Partners Inc. acquired a new stake in shares of U.S. Bancorp in the first quarter valued at approximately $2,514,000. Acadian Asset Management LLC raised its position in U.S. Bancorp by 3.0% in the 1st quarter. Acadian Asset Management LLC now owns 9,397 shares of the financial services provider’s stock valued at $499,000 after purchasing an additional 276 shares during the last quarter. Vontobel Holding Ltd. raised its position in U.S. Bancorp by 20.8% in the 1st quarter. Vontobel Holding Ltd. now owns 21,314 shares of the financial services provider’s stock valued at $1,176,000 after purchasing an additional 3,663 shares during the last quarter. Prudential PLC acquired a new stake in U.S. Bancorp during the 1st quarter worth $1,731,000. Finally, Candriam Luxembourg S.C.A. grew its position in U.S. Bancorp by 5.9% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 86,048 shares of the financial services provider’s stock worth $4,573,000 after purchasing an additional 4,827 shares during the last quarter. 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.