U.S. Bancorp (NYSE:USB) Lowered to Sell Rating by Wall Street Zen

U.S. Bancorp (NYSE:USB) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

USB has been the subject of a number of other reports. Piper Sandler reissued a “buy” rating on shares of U.S. Bancorp in a research note on Thursday, February 26th. Oppenheimer raised their price objective on shares of U.S. Bancorp from $73.00 to $74.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Barclays raised their price objective on shares of U.S. Bancorp from $65.00 to $67.00 and gave the stock an “overweight” rating in a research note on Friday, April 17th. Jefferies Financial Group reissued a “hold” rating and set a $60.00 price objective on shares of U.S. Bancorp in a research note on Thursday, April 16th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating for the company in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, U.S. Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $61.20.

U.S. Bancorp Trading Up 0.4%

Shares of USB opened at $55.70 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. The firm’s 50-day moving average is $54.71 and its two-hundred day moving average is $54.16. U.S. Bancorp has a twelve month low of $42.55 and a twelve month high of $61.19. The firm has a market capitalization of $86.39 billion, a P/E ratio of 11.68, a PEG ratio of 1.00 and a beta of 0.97.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The company had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.27 billion. During the same period in the prior year, the business posted $1.03 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, research analysts predict that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jodi L. Richard sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the sale, the insider owned 207,251 shares in the company, valued at approximately $11,813,307. This trade represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Venkatachari Dilip sold 34,522 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the sale, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by company insiders.

Institutional Trading of U.S. Bancorp

A number of hedge funds have recently bought and sold shares of USB. Brighton Jones LLC raised its stake in U.S. Bancorp by 323.0% during the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock worth $2,309,000 after purchasing an additional 36,863 shares during the period. Empowered Funds LLC raised its stake in shares of U.S. Bancorp by 2.1% in the 1st quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock valued at $1,453,000 after acquiring an additional 714 shares during the period. Intech Investment Management LLC raised its stake in shares of U.S. Bancorp by 18.9% in the 1st quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider’s stock valued at $1,658,000 after acquiring an additional 6,252 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of U.S. Bancorp in the 2nd quarter valued at $425,000. Finally, Nebula Research & Development LLC purchased a new position in shares of U.S. Bancorp in the 2nd quarter valued at $701,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

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.