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

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

Several other research firms also recently weighed in on USB. Raymond James upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a research note on Thursday, December 19th. Compass Point upped their price target on U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the stock from $58.00 to $60.00 in a research note on Thursday, January 2nd. Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a research note on Thursday, October 17th. Finally, Barclays upped their price target on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $54.21.

U.S. Bancorp Stock Performance

U.S. Bancorp stock opened at $48.40 on Friday. The stock’s 50 day simple moving average is $50.22 and its two-hundred day simple moving average is $46.72. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $75.50 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 2.47 and a beta of 1.05. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98.

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

U.S. Bancorp Dividend Announcement

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

Hedge Funds Weigh In On U.S. Bancorp

A number of institutional investors have recently bought and sold shares of USB. Renaissance Technologies LLC bought a new position in U.S. Bancorp in the 2nd quarter worth $9,198,000. Mercer Global Advisors Inc. ADV raised its holdings in U.S. Bancorp by 4.3% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 180,386 shares of the financial services provider’s stock worth $7,757,000 after purchasing an additional 7,481 shares during the period. Seven Eight Capital LP bought a new position in U.S. Bancorp in the 2nd quarter worth $1,170,000. Brighton Jones LLC raised its holdings in U.S. Bancorp by 55.8% in the 2nd quarter. Brighton Jones LLC now owns 43,343 shares of the financial services provider’s stock worth $1,721,000 after purchasing an additional 15,531 shares during the period. Finally, Ieq Capital LLC raised its holdings in U.S. Bancorp by 17.7% during the second quarter. Ieq Capital LLC now owns 64,479 shares of the financial services provider’s stock valued at $2,560,000 after acquiring an additional 9,704 shares during the period. 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.