U.S. Bancorp (NYSE:USB) Shares Gap Down – Here’s What Happened

U.S. Bancorp (NYSE:USB) shares gapped down prior to trading on Thursday . The stock had previously closed at $50.90, but opened at $47.89. U.S. Bancorp shares last traded at $48.17, with a volume of 2,354,095 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on USB. Robert W. Baird set a $54.00 target price on shares of U.S. Bancorp in a research note on Thursday, October 17th. Compass Point upped their price objective on shares of U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Evercore ISI upped their price objective on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Wells Fargo & Company upped their price objective on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $49.00 to $65.00 in a research report on Monday, November 25th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $54.21.

U.S. Bancorp Trading Up 0.8 %

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 company has a market cap of $75.50 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05. The company’s 50 day simple moving average is $50.22 and its two-hundred day simple moving average is $46.72.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.01. The company had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. U.S. Bancorp’s revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.99 earnings per share. As a group, sell-side analysts anticipate that U.S. Bancorp will post 3.91 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.50 per share. The ex-dividend date 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 presently 61.16%.

Institutional Trading of U.S. Bancorp

Hedge funds have recently made changes to their positions in the business. Winch Advisory Services LLC raised its holdings in U.S. Bancorp by 1,088.9% in the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 490 shares in the last quarter. Frazier Financial Advisors LLC raised its holdings in U.S. Bancorp by 222.7% in the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 441 shares in the last quarter. Global Wealth Strategies & Associates raised its holdings in U.S. Bancorp by 70.8% in the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 250 shares in the last quarter. Albion Financial Group UT raised its holdings in U.S. Bancorp by 92.8% in the fourth quarter. Albion Financial Group UT now owns 696 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 335 shares in the last quarter. Finally, Global Trust Asset Management LLC acquired a new stake in U.S. Bancorp in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

About U.S. Bancorp

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.