Citigroup Lowers U.S. Bancorp (NYSE:USB) Price Target to $55.00

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

Several other brokerages have also recently weighed in on USB. Oppenheimer raised their price objective on U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, January 17th. The Goldman Sachs Group cut their target price on shares of U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. Bank of America decreased their price objective on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Monday, March 17th. Truist Financial initiated coverage on shares of U.S. Bancorp in a report on Tuesday, January 7th. They set a “hold” rating and a $54.00 target price on the stock. Finally, Morgan Stanley decreased their price objective on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.48.

U.S. Bancorp Price Performance

Shares of USB stock opened at $43.74 on Monday. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $68.15 billion, a price-to-earnings ratio of 11.54, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. The firm has a fifty day moving average of $45.96 and a 200-day moving average of $47.60.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. The company had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.99 earnings per share. On average, equities research analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date of this dividend is Monday, March 31st. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Insider Buying and Selling at U.S. Bancorp

In related news, insider Terrance R. Dolan sold 66,317 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value of $3,114,246.32. Following the transaction, the insider now owns 209,482 shares in the company, valued at $9,837,274.72. The trade was a 24.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jodi L. Richard sold 30,000 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $47.59, for a total value of $1,427,700.00. Following the sale, the insider now owns 99,790 shares of the company’s stock, valued at approximately $4,749,006.10. The trade was a 23.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 219,812 shares of company stock valued at $10,385,665. 0.23% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On U.S. Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the business. Winch Advisory Services LLC increased its holdings in U.S. Bancorp by 1,088.9% in the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 490 shares in the last quarter. J.Safra Asset Management Corp acquired a new stake in shares of U.S. Bancorp during the 4th quarter worth approximately $26,000. FPC Investment Advisory Inc. acquired a new position in shares of U.S. Bancorp during the 4th quarter valued at $28,000. Global Wealth Strategies & Associates lifted its position in shares of U.S. Bancorp by 70.8% during the 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 250 shares during the period. Finally, Stonebridge Financial Group LLC bought a new position in U.S. Bancorp during the fourth quarter worth $30,000. Institutional investors own 77.60% of the company’s stock.

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 through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.