Morgan Stanley Cuts U.S. Bancorp (NYSE:USB) Price Target to $65.00

U.S. Bancorp (NYSE:USB) had its target price decreased by Morgan Stanley from $72.00 to $65.00 in a research report released on Tuesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the financial services provider’s stock.

Other research analysts have also issued research reports about the company. Truist Financial upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and raised their target price for the company from $61.00 to $66.00 in a report on Thursday, February 26th. TD Cowen upped their price target on U.S. Bancorp from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Jefferies Financial Group assumed coverage on U.S. Bancorp in a research report on Thursday, March 26th. They issued a “hold” rating and a $55.00 price target for the company. Piper Sandler restated a “buy” rating on shares of U.S. Bancorp in a research note on Thursday, February 26th. Finally, UBS Group reaffirmed a “neutral” rating and set a $60.00 price objective on shares of U.S. Bancorp in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, U.S. Bancorp currently has an average rating of “Moderate Buy” and an average target price of $60.45.

U.S. Bancorp Trading Up 0.4%

NYSE:USB opened at $52.97 on Tuesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. U.S. Bancorp has a one year low of $35.18 and a one year high of $61.19. The company has a market cap of $82.22 billion, a PE ratio of 11.47, a PEG ratio of 0.97 and a beta of 1.01. The firm has a 50-day moving average of $54.96 and a 200-day moving average of $51.85.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.07. The business had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.31 billion. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.07 EPS. As a group, equities research analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, March 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 45.02%.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Mark G. Runkel sold 32,195 shares of the business’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $60.65, for a total value of $1,952,626.75. Following the transaction, the insider owned 97,728 shares of the company’s stock, valued at approximately $5,927,203.20. The trade was a 24.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On U.S. Bancorp

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in U.S. Bancorp by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider’s stock worth $7,810,665,000 after buying an additional 1,828,404 shares during the last quarter. State Street Corp boosted its stake in U.S. Bancorp by 0.8% in the fourth quarter. State Street Corp now owns 69,701,898 shares of the financial services provider’s stock valued at $3,755,083,000 after acquiring an additional 522,368 shares during the last quarter. Geode Capital Management LLC boosted its stake in U.S. Bancorp by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 37,679,617 shares of the financial services provider’s stock valued at $2,002,518,000 after acquiring an additional 443,646 shares during the last quarter. Norges Bank bought a new position in shares of U.S. Bancorp during the 4th quarter valued at approximately $1,887,497,000. Finally, Auto Owners Insurance Co grew its position in shares of U.S. Bancorp by 5,236.0% during the 4th quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock valued at $1,779,556,000 after acquiring an additional 32,725,000 shares during the period. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.