Robert W. Baird Downgrades U.S. Bancorp to Neutral (USB)
U.S. Bancorp (NYSE:USB) was downgraded by Robert W. Baird from an “outperform” rating to a “neutral” rating in a research note issued on Wednesday, TheFlyOnTheWall.com reports. They currently have a $44.00 price target on the stock. Robert W. Baird’s price objective would indicate a potential upside of 1.52% from the company’s current price. The analysts noted that the move was a valuation call.
U.S. Bancorp (NYSE:USB) traded down 0.30% on Wednesday, hitting $43.21. The stock had a trading volume of 2,384,877 shares. U.S. Bancorp has a 52 week low of $35.69 and a 52 week high of $43.92. The stock’s 50-day moving average is $42.41 and its 200-day moving average is $41.33. The company has a market cap of $78.433 billion and a price-to-earnings ratio of 14.45.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, April 16th. The company reported $0.73 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.73. The company had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.81 billion. During the same quarter in the previous year, the company posted $0.73 earnings per share. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. Analysts expect that U.S. Bancorp will post $3.07 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.245 per share. This represents a $0.98 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Thursday, June 26th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.23.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of U.S. Bancorp in a research note on Thursday, June 19th. They now have a $44.00 price target on the stock, up previously from $42.50. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of U.S. Bancorp from $42.00 to $44.00 in a research note on Monday, June 9th. They now have a “market perform” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of U.S. Bancorp in a research note on Monday, June 2nd. They now have a $44.00 price target on the stock. Seventeen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $43.46.
U.S. Bancorp (NYSE:USB) is a multi-state financial services holding company.
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