U.S. Bancorp (NYSE:USB) Stock Crosses Below 50 Day Moving Average – Here’s What Happened

U.S. Bancorp (NYSE:USB)’s share price crossed below its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $59.65 and traded as low as $58.99. U.S. Bancorp shares last traded at $59.4870, with a volume of 10,667,093 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Robert W. Baird raised their price target on shares of U.S. Bancorp from $64.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, July 17th. HSBC lifted their price target on U.S. Bancorp from $74.00 to $76.00 and gave the company a “buy” rating in a report on Monday, September 28th. Barclays boosted their price objective on U.S. Bancorp from $67.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Morgan Stanley set a $68.00 price objective on U.S. Bancorp in a report on Friday, October 16th. Finally, CLSA set a $67.50 target price on U.S. Bancorp in a research report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.65.

U.S. Bancorp Stock Down 0.4%

The stock has a market cap of $92.68 billion, a P/E ratio of 11.60, a price-to-earnings-growth ratio of 1.13 and a beta of 1.02. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.87. The stock’s 50-day moving average is $59.65 and its 200-day moving average is $58.18.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, October 15th. The financial services provider reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.02. The company had revenue of $8.04 billion for the quarter, compared to the consensus estimate of $8 billion. U.S. Bancorp had a net margin of 18.85% and a return on equity of 13.85%. U.S. Bancorp’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.22 EPS. As a group, research analysts anticipate that U.S. Bancorp will post 5.30 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were issued a dividend of $0.54 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.52. This represents a $2.16 annualized dividend and a yield of 3.6%. U.S. Bancorp’s dividend payout ratio is presently 42.11%.

Insiders Place Their Bets

In other U.S. Bancorp news, CEO Gunjan Kedia sold 27,267 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the completion of the transaction, the chief executive officer directly owned 426,262 shares of the company’s stock, valued at approximately $26,585,960.94. This trade represents a 6.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is owned by company insiders.

Institutional Trading of U.S. Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Mufg Bank LTD. bought a new stake in U.S. Bancorp in the second quarter worth approximately $2,680,199,000. Bank of New York Mellon Corp acquired a new position in shares of U.S. Bancorp during the 2nd quarter worth $536,457,000. First Trust Advisors LP raised its holdings in shares of U.S. Bancorp by 39.9% during the 1st quarter. First Trust Advisors LP now owns 8,118,845 shares of the financial services provider’s stock valued at $422,261,000 after purchasing an additional 2,314,081 shares in the last quarter. KBC Group NV raised its holdings in shares of U.S. Bancorp by 259.0% during the 1st quarter. KBC Group NV now owns 1,888,428 shares of the financial services provider’s stock valued at $98,217,000 after purchasing an additional 1,362,416 shares in the last quarter. Finally, Amundi raised its holdings in shares of U.S. Bancorp by 25.2% during the 1st quarter. Amundi now owns 6,470,642 shares of the financial services provider’s stock valued at $336,538,000 after purchasing an additional 1,301,547 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

About U.S. Bancorp

U.S. Bancorp is the parent company of U.S. Bank, a financial services provider serving consumers, businesses, institutions and government entities across the United States. Its history traces to 1863, when one of its predecessor institutions, First National Bank of Cincinnati, was established.

U.S. Bank offers consumer and business banking, lending, payment services, wealth management, investment services and corporate trust services. Its products include checking and savings accounts, credit cards, mortgages, commercial loans and digital banking solutions.

Headquartered in Minneapolis, Minnesota, U.S.