Credit Suisse Group reissued their hold rating on shares of U.S. Bancorp (NYSE:USB) in a research note published on Thursday, AnalystRatings.com reports. The firm currently has a $55.00 price objective on the financial services provider’s stock.
A number of other research firms also recently commented on USB. Wedbush upped their price objective on U.S. Bancorp from $46.00 to $49.00 and gave the company a neutral rating in a report on Thursday, July 18th. JPMorgan Chase & Co. upgraded U.S. Bancorp from an underweight rating to a neutral rating and upped their price objective for the company from $52.50 to $57.00 in a report on Wednesday, July 31st. Macquarie downgraded U.S. Bancorp from an outperform rating to a neutral rating and set a $59.00 price objective for the company. in a report on Thursday, August 1st. Deutsche Bank set a $59.00 price objective on U.S. Bancorp and gave the company a hold rating in a report on Friday, July 26th. Finally, Morgan Stanley upped their price objective on U.S. Bancorp from $55.00 to $56.00 and gave the company an underweight rating in a report on Thursday, July 18th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $56.93.
NYSE USB opened at $56.08 on Thursday. The stock has a 50-day simple moving average of $53.53 and a 200 day simple moving average of $52.16. The company has a market capitalization of $87.82 billion, a PE ratio of 13.68, a P/E/G ratio of 1.85 and a beta of 1.10. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.86. U.S. Bancorp has a 12 month low of $43.14 and a 12 month high of $57.81.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The business had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.73 billion. U.S. Bancorp had a return on equity of 15.45% and a net margin of 26.70%. The firm’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.02 earnings per share. As a group, sell-side analysts predict that U.S. Bancorp will post 4.31 earnings per share for the current fiscal year.
U.S. Bancorp declared that its board has authorized a stock repurchase program on Thursday, June 27th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 3.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
In other news, EVP Mark G. Runkel sold 10,986 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $57.32, for a total transaction of $629,717.52. Following the completion of the transaction, the executive vice president now directly owns 45,213 shares of the company’s stock, valued at $2,591,609.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Gillern Jeffry H. Von sold 9,428 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $55.25, for a total value of $520,897.00. Following the transaction, the insider now directly owns 94,658 shares of the company’s stock, valued at $5,229,854.50. The disclosure for this sale can be found here. Insiders have sold 40,414 shares of company stock valued at $2,297,215 over the last ninety days. 0.24% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Trustcore Financial Services LLC acquired a new position in U.S. Bancorp during the first quarter valued at approximately $28,000. Manchester Financial Inc. acquired a new position in U.S. Bancorp during the second quarter valued at approximately $30,000. Catamount Wealth Management boosted its position in U.S. Bancorp by 525.0% during the first quarter. Catamount Wealth Management now owns 750 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 630 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new position in U.S. Bancorp during the second quarter valued at approximately $37,000. Finally, Prime Capital Investment Advisors LLC boosted its position in U.S. Bancorp by 174.0% during the second quarter. Prime Capital Investment Advisors LLC now owns 707 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 449 shares during the last quarter. 75.67% of the stock is owned by institutional investors.
About U.S. Bancorp
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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