U.S. Bancorp (NYSE:USB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, October 17th.
According to Zacks, “Shares of U.S. Bancorp have underperformed the industry year to date. Estimates have declined lately ahead of the company’s third-quarter earnings release. However, the company boasts an impressive earnings surprise history. The company has surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. We believe the company’s prospects will likely get support from its solid business model, core franchise and diverse revenue streams. However, escalating expenses and litigations remain key concerns. Also, stretched valuation indicates limited upside potential.”
USB has been the topic of a number of other research reports. Instinet cut U.S. Bancorp from a “buy” rating to a “neutral” rating and decreased their target price for the company from $57.00 to $55.00 in a research report on Thursday, September 28th. Robert W. Baird reiterated a “hold” rating and issued a $48.00 target price on shares of U.S. Bancorp in a research report on Friday, October 6th. BidaskClub cut U.S. Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Wells Fargo & Company assumed coverage on U.S. Bancorp in a report on Wednesday, August 9th. They set a “market perform” rating and a $56.00 price target on the stock. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of U.S. Bancorp in a report on Wednesday, July 19th. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $54.06.
Shares of U.S. Bancorp (NYSE:USB) traded up 0.26% on Tuesday, reaching $54.44. 4,862,947 shares of the company traded hands. U.S. Bancorp has a one year low of $43.83 and a one year high of $56.61. The company has a market capitalization of $91.07 billion, a P/E ratio of 16.45 and a beta of 0.87. The firm’s 50 day moving average is $53.38 and its 200 day moving average is $52.23.
U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.88. U.S. Bancorp had a return on equity of 13.91% and a net margin of 25.46%. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.60 billion. During the same quarter in the previous year, the business posted $0.84 earnings per share. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. Analysts expect that U.S. Bancorp will post $3.43 earnings per share for the current fiscal year.
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Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in U.S. Bancorp by 1.7% in the second quarter. Vanguard Group Inc. now owns 105,568,014 shares of the financial services provider’s stock valued at $5,481,092,000 after buying an additional 1,727,498 shares during the period. State Street Corp lifted its stake in U.S. Bancorp by 1.2% in the first quarter. State Street Corp now owns 75,509,050 shares of the financial services provider’s stock valued at $3,888,995,000 after buying an additional 903,504 shares during the period. New England Asset Management Inc. lifted its stake in U.S. Bancorp by 52.5% in the first quarter. New England Asset Management Inc. now owns 26,571,846 shares of the financial services provider’s stock valued at $1,368,451,000 after buying an additional 9,150,126 shares during the period. Franklin Resources Inc. lifted its stake in U.S. Bancorp by 0.7% in the second quarter. Franklin Resources Inc. now owns 16,019,884 shares of the financial services provider’s stock valued at $831,753,000 after buying an additional 110,571 shares during the period. Finally, US Bancorp DE lifted its stake in U.S. Bancorp by 1.9% in the second quarter. US Bancorp DE now owns 14,157,826 shares of the financial services provider’s stock valued at $735,074,000 after buying an additional 259,093 shares during the period. 73.95% of the stock is currently owned by 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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