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

U.S. Bancorp (NYSE:USB) shares 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 traded.

Analyst Ratings Changes

Several brokerages recently issued reports on USB. The Goldman Sachs Group reiterated a “neutral” rating and issued a $64.00 price target (down from $71.00) on shares of U.S. Bancorp in a report on Thursday, October 15th. BTIG Research set a $67.50 target price on U.S. Bancorp in a report on Monday, July 20th. TD Cowen started coverage on shares of U.S. Bancorp in a research report on Thursday, October 8th. They set a “buy” rating and a $70.00 target price for the company. Barclays increased their price objective on shares of U.S. Bancorp from $67.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Finally, Royal Bank Of Canada cut their price objective on U.S. Bancorp from $68.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $68.65.

U.S. Bancorp Stock Down 0.4%

The company has a 50 day moving average of $59.65 and a 200-day moving average of $58.18. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $92.68 billion, a P/E ratio of 11.60, a PEG ratio of 1.15 and a beta of 1.02.

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

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a $0.54 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.52. This represents a $2.16 dividend on an annualized basis and a yield of 3.6%. U.S. Bancorp’s payout ratio is 42.11%.

Insiders Place Their Bets

In other news, CEO Gunjan Kedia sold 27,267 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $62.37, for a total value of $1,700,642.79. Following the transaction, the chief executive officer owned 426,262 shares in the company, valued at approximately $26,585,960.94. The trade was a 6.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.21% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On U.S. Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in USB. Mufg Bank LTD. acquired a new position in shares of U.S. Bancorp during the 2nd quarter worth about $2,680,199,000. Bank of New York Mellon Corp acquired a new position in U.S. Bancorp in the 2nd quarter worth $536,457,000. First Trust Advisors LP lifted its holdings in U.S. Bancorp by 39.9% in the first quarter. First Trust Advisors LP now owns 8,118,845 shares of the financial services provider’s stock worth $422,261,000 after acquiring an additional 2,314,081 shares during the last quarter. KBC Group NV grew its position in U.S. Bancorp by 259.0% in 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 buying an additional 1,362,416 shares in the last quarter. Finally, Amundi increased its position in U.S. Bancorp by 25.2% during the first quarter. Amundi now owns 6,470,642 shares of the financial services provider’s stock worth $336,538,000 after buying an additional 1,301,547 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Company Profile

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.