Zacks Reiterates Neutral Rating for U.S. Bancorp (USB)
U.S. Bancorp (NYSE:USB)‘s stock had its “neutral” rating restated by Zacks in a research note issued to investors on Thursday. They currently have a $44.00 price objective on the stock. Zacks‘s target price suggests a potential upside of 4.49% from the company’s current price.
Zacks’ analyst wrote, “U.S. Bancorp’s second-quarter 2014 earnings outpaced the Zacks Consensus Estimate. Moreover, this compared favorably with the prior-year quarter figure. Organic growth was reflected in the quarter aided by higher revenues, loans and deposits. However, non-interest expense increased due to recent settlement with the U.S. Department of Justice (DOJ) worth $200 million. Nevertheless, U.S. Bancorp’s attractive core franchise, diverse revenue streams and a strong performance in the past years are impressive. A solid capital position, improving credit quality and an increase in strategic acquisitions augur well. Yet, regulatory issues along with the expectation of a continued low interest-rate environment are likely to limit the stock’s upside potential in the coming quarters. Moreover, an expanding cost base remains a concern.”
Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of U.S. Bancorp in a research note on Thursday. They now have a $44.50 price target on the stock, up previously from $44.00. Separately, analysts at S&P Equity Research reiterated a “buy” rating on shares of U.S. Bancorp in a research note on Thursday, July 17th. Finally, analysts at Barclays reiterated an “overweight” rating on shares of U.S. Bancorp in a research note on Thursday, July 17th. They now have a $48.00 price target on the stock, up previously from $45.00. Eighteen analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $43.83.
Shares of U.S. Bancorp (NYSE:USB) traded up 0.89% on Thursday, hitting $42.495. 1,491,437 shares of the company’s stock traded hands. U.S. Bancorp has a 52-week low of $35.69 and a 52-week high of $43.92. The stock has a 50-day moving average of $41.92 and a 200-day moving average of $41.90. The company has a market cap of $76.573 billion and a price-to-earnings ratio of 13.95.
U.S. Bancorp (NYSE:USB) last released its earnings data on Wednesday, July 16th. The company reported $0.78 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.77 by $0.01. The company had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $4.93 billion. During the same quarter last year, the company posted $0.76 earnings per share. U.S. Bancorp’s revenue was up 4.9% compared to the same quarter last year. On average, analysts predict that U.S. Bancorp will post $3.10 earnings per share for the current fiscal year.
U.S. Bancorp (NYSE:USB) is a multi-state financial services holding company.
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