U.S. Bancorp (NYSE:USB)‘s stock had its “buy” rating restated by Jefferies Group LLC in a research report issued on Friday. They currently have a $59.00 price objective on the financial services provider’s stock. Jefferies Group LLC’s target price suggests a potential upside of 13.35% from the company’s current price.
USB has been the topic of several other research reports. Wells Fargo & Company cut shares of U.S. Bancorp from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $38.48 to $52.31 in a report on Thursday, May 4th. They noted that the move was a valuation call. BidaskClub upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Argus upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Thursday, July 20th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a report on Wednesday, July 19th. Finally, Rafferty Capital Markets cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $53.00 price target on the stock. in a report on Thursday, April 20th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $52.85.
U.S. Bancorp (USB) opened at 52.05 on Friday. U.S. Bancorp has a 52-week low of $42.17 and a 52-week high of $56.61. The company’s 50 day moving average is $52.32 and its 200-day moving average is $52.55. The firm has a market cap of $87.07 billion, a P/E ratio of 15.73 and a beta of 0.86.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.01. The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.46 billion. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.82 earnings per share. On average, equities analysts predict that U.S. Bancorp will post $3.44 EPS for the current fiscal year.
U.S. Bancorp declared that its board has initiated a stock repurchase program on Wednesday, June 28th that authorizes the company to repurchase $2.60 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In other news, Vice Chairman P.W. Parker sold 29,449 shares of U.S. Bancorp stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $51.94, for a total value of $1,529,581.06. Following the completion of the transaction, the insider now owns 307,698 shares of the company’s stock, valued at approximately $15,981,834.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.39% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of USB. Stelac Advisory Services LLC bought a new position in U.S. Bancorp during the second quarter valued at about $103,000. Orrstown Financial Services Inc. raised its position in U.S. Bancorp by 26.9% in the first quarter. Orrstown Financial Services Inc. now owns 2,240 shares of the financial services provider’s stock valued at $116,000 after buying an additional 475 shares in the last quarter. SRS Capital Advisors Inc. raised its position in U.S. Bancorp by 17.0% in the first quarter. SRS Capital Advisors Inc. now owns 2,547 shares of the financial services provider’s stock valued at $131,000 after buying an additional 371 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new position in U.S. Bancorp during the first quarter valued at about $155,000. Finally, WealthTrust Arizona LLC raised its position in U.S. Bancorp by 31.8% in the first quarter. WealthTrust Arizona LLC now owns 3,033 shares of the financial services provider’s stock valued at $156,000 after buying an additional 732 shares in the last quarter. 75.84% of the stock is owned by hedge funds and other institutional investors.
U.S. Bancorp Company Profile
U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.
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