U.S. Bancorp Price Target Cut to $38.00 (USB)
Equities researchers at Guggenheim cut their price objective on shares of U.S. Bancorp (NYSE:USB) from $41.00 to $38.00 in a research report issued on Monday, StockRatingsNetwork.com reports. The firm currently has a “neutral” rating on the stock. Guggenheim’s price target indicates a potential upside of 3.88% from the stock’s previous close.
Shares of U.S. Bancorp (NYSE:USB) traded up 0.22% during mid-day trading on Monday, hitting $36.58. The stock had a trading volume of 7,894,983 shares. U.S. Bancorp has a 52 week low of $30.96 and a 52 week high of $38.23. The stock has a 50-day moving average of $36.85 and a 200-day moving average of $35.50. The company has a market cap of $67.280 billion and a P/E ratio of 12.37.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $0.76 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.76. The company had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $5.00 billion. During the same quarter in the prior year, the company posted $0.71 earnings per share. The company’s quarterly revenue was down 2.4% on a year-over-year basis. On average, analysts predict that U.S. Bancorp will post $3.01 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Thursday, September 26th.
USB has been the subject of a number of other recent research reports. Analysts at TheStreet reiterated a “positive” rating on shares of U.S. Bancorp (NYSE:USB) in a research note to investors on Wednesday, September 25th. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of U.S. Bancorp (NYSE:USB) from $37.50 to $39.50 in a research note to investors on Wednesday, September 18th. They now have a “neutral” rating on the stock. Finally, analysts at Goldman Sachs Group Inc. raised their price target on shares of U.S. Bancorp (NYSE:USB) from $37.00 to $40.00 in a research note to investors on Tuesday, September 17th. They now have a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. U.S. Bancorp currently has an average rating of “Hold” and a consensus target price of $37.94.
U.S. Bancorp (NYSE:USB) is a multi-state financial services holding company.
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