Deutsche Bank Downgrades U.S. Bancorp to Hold (USB)
U.S. Bancorp (NYSE:USB) was downgraded by investment analysts at Deutsche Bank from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, TheFlyOnTheWall.com reports. They currently have a $38.00 price target on the stock, down from their previous price target of $41.00. Deutsche Bank’s price target would indicate a potential upside of 0.53% from the company’s current price.
The analysts wrote, “3Q was disappointing in our view as we est. there was $100m+ of MSR gains that weren’t disclosed. Underlying trends were weaker than expected and the outlook seems a bit more sluggish than we had previously assumed. We are reducing our 2014/2015 by 3/5% (both now below consensus).”
Shares of U.S. Bancorp (NYSE:USB) traded down 0.47% during mid-day trading on Thursday, hitting $37.80. The stock had a trading volume of 9,328,186 shares. U.S. Bancorp has a 1-year low of $30.96 and a 1-year high of $37.97. The stock’s 50-day moving average is $36.94 and its 200-day moving average is $35.27. The company has a market cap of $69.250 billion and a P/E ratio of 12.79.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, October 16th. The company reported $0.76 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.76. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.98 billion. During the same quarter last year, the company posted $0.74 earnings per share. U.S. Bancorp’s revenue was down 5.6% compared to the same quarter last year.
In other U.S. Bancorp news, Director Y Marc Belton bought 10,250 shares of the stock on the open market in a transaction that occurred on Wednesday, October 23rd. The shares were purchased at an average cost of $37.90 per share, with a total value of $388,475.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.
A number of other firms have also recently commented on USB. Analysts at Zacks reiterated a “neutral” rating on shares of U.S. Bancorp in a research note to investors on Thursday, October 17th. They now have a $39.00 price target on the stock. Separately, analysts at Sanford C. Bernstein raised their price target on shares of U.S. Bancorp from $38.00 to $39.00 in a research note to investors on Thursday, October 17th. They now have a “market perform” rating on the stock. Finally, analysts at Compass Point raised their price target on shares of U.S. Bancorp from $36.00 to $37.00 in a research note to investors on Thursday, October 17th. They now have a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $38.46.
U.S. Bancorp (NYSE:USB) is a multi-state financial services holding company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.