U.S. Bancorp (NYSE:USB) Price Target Cut to $59.00 by Analysts at Morgan Stanley

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

A number of other equities analysts have also commented on USB. Robert W. Baird set a $54.00 price target on U.S. Bancorp in a report on Thursday, October 17th. Compass Point lifted their price objective on U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. DA Davidson raised 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 research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft lowered U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective for the company. in a research note on Thursday, October 24th. Finally, Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a research note on Monday, January 13th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.21.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $48.40 on Friday. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98. The business has a fifty day moving average price of $50.22 and a 200-day moving average price of $46.72. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $75.50 billion, a P/E ratio of 14.80, a PEG ratio of 2.47 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last posted its quarterly 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. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The firm had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. During the same period last year, the company earned $0.99 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, equities research analysts forecast that U.S. Bancorp will post 3.91 EPS for the current year.

U.S. Bancorp Announces Dividend

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

Institutional Trading of U.S. Bancorp

Large investors have recently modified their holdings of the business. Natixis Advisors LLC grew its stake in shares of U.S. Bancorp by 16.6% in the third quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock worth $18,348,000 after purchasing an additional 56,990 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of U.S. Bancorp in the fourth quarter worth about $1,018,000. M&T Bank Corp grew its stake in shares of U.S. Bancorp by 2.8% in the third quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock worth $38,704,000 after purchasing an additional 22,803 shares during the last quarter. Hilltop Holdings Inc. grew its stake in shares of U.S. Bancorp by 184.3% in the third quarter. Hilltop Holdings Inc. now owns 70,283 shares of the financial services provider’s stock worth $3,214,000 after purchasing an additional 45,560 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. grew its stake in shares of U.S. Bancorp by 544.1% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 13,894 shares of the financial services provider’s stock worth $635,000 after purchasing an additional 11,737 shares during the last quarter. 77.60% of the stock is owned by institutional investors.

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.