U.S. Bancorp (NYSE:USB – Get Rating) shares reached a new 52-week low on Wednesday after Citigroup lowered their price target on the stock from $53.00 to $50.00. Citigroup currently has a neutral rating on the stock. U.S. Bancorp traded as low as $44.64 and last traded at $44.90, with a volume of 60171 shares traded. The stock had previously closed at $46.20.
A number of other research firms also recently commented on USB. Wolfe Research dropped their price target on U.S. Bancorp from $62.00 to $54.00 and set an “outperform” rating for the company in a research note on Thursday, May 26th. UBS Group downgraded U.S. Bancorp from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $64.00 to $56.00 in a research note on Friday, April 8th. Jefferies Financial Group lowered their target price on U.S. Bancorp from $52.00 to $45.00 in a research note on Monday. Morgan Stanley reduced their price target on U.S. Bancorp from $66.00 to $54.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, Wells Fargo & Company reduced their price target on U.S. Bancorp from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday, July 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $59.50.
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Hedge funds and other institutional investors have recently bought and sold shares of the company. Delos Wealth Advisors LLC bought a new stake in shares of U.S. Bancorp in the fourth quarter valued at approximately $29,000. Advocacy Wealth Management Services LLC grew its stake in shares of U.S. Bancorp by 72.3% during the first quarter. Advocacy Wealth Management Services LLC now owns 572 shares of the financial services provider’s stock valued at $30,000 after buying an additional 240 shares during the last quarter. Westside Investment Management Inc. increased its holdings in shares of U.S. Bancorp by 45.6% in the first quarter. Westside Investment Management Inc. now owns 648 shares of the financial services provider’s stock worth $34,000 after buying an additional 203 shares during the period. Atticus Wealth Management LLC purchased a new position in shares of U.S. Bancorp in the fourth quarter worth about $36,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new position in U.S. Bancorp during the 4th quarter valued at about $36,000. 74.92% of the stock is currently owned by institutional investors.
The company has a 50-day simple moving average of $48.67 and a two-hundred day simple moving average of $53.43. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.74 and a current ratio of 0.75. The firm has a market capitalization of $66.86 billion, a P/E ratio of 9.96, a PEG ratio of 1.62 and a beta of 1.00.
U.S. Bancorp (NYSE:USB – Get Rating) last announced its quarterly earnings results on Thursday, April 14th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.06. The firm had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.55 billion. U.S. Bancorp had a return on equity of 15.24% and a net margin of 30.41%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.45 earnings per share. As a group, research analysts forecast that U.S. Bancorp will post 4.43 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be issued a $0.46 dividend. The ex-dividend date is Wednesday, June 29th. This represents a $1.84 dividend on an annualized basis and a yield of 4.09%. U.S. Bancorp’s dividend payout ratio is presently 39.66%.
U.S. Bancorp Company Profile (NYSE:USB)
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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.
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