U.S. Bancorp (NYSE:USB) Shares Gap Down – Here’s What Happened

U.S. Bancorp (NYSE:USB) shares gapped down before the market opened on Thursday . The stock had previously closed at $50.90, but opened at $47.89. U.S. Bancorp shares last traded at $48.17, with a volume of 2,354,095 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on USB. Robert W. Baird set a $54.00 price objective on shares of U.S. Bancorp in a report on Thursday, October 17th. Barclays lifted their price objective on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, January 6th. DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $58.00 to $60.00 in a report on Thursday, January 2nd. Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a research report on Thursday, December 19th. Finally, Truist Financial started coverage on shares of U.S. Bancorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $54.00 target price on the stock. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.21.

U.S. Bancorp Stock Performance

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 company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The firm’s 50-day simple moving average is $50.22 and its two-hundred day simple moving average is $46.72.

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

U.S. Bancorp Dividend Announcement

The firm also recently disclosed 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. This represents a $2.00 annualized dividend and a yield of 4.13%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s payout ratio is 61.16%.

Institutional Trading of U.S. Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the business. Secure Asset Management LLC lifted its stake in U.S. Bancorp by 3.1% during the 4th quarter. Secure Asset Management LLC now owns 9,510 shares of the financial services provider’s stock valued at $455,000 after acquiring an additional 289 shares during the period. Red Door Wealth Management LLC acquired a new stake in U.S. Bancorp during the 4th quarter valued at approximately $256,000. Donoghue Forlines LLC acquired a new stake in U.S. Bancorp during the 4th quarter valued at approximately $1,460,000. Wesbanco Bank Inc. lifted its stake in shares of U.S. Bancorp by 2.1% in the 4th quarter. Wesbanco Bank Inc. now owns 246,910 shares of the financial services provider’s stock valued at $11,810,000 after purchasing an additional 4,971 shares during the period. Finally, Bartlett & CO. Wealth Management LLC lifted its stake in shares of U.S. Bancorp by 1.1% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 377,418 shares of the financial services provider’s stock valued at $18,241,000 after purchasing an additional 4,082 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

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.