U.S. Bancorp (NYSE:USB) Stock Rating Upgraded by Argus
U.S. Bancorp (NYSE:USB) was upgraded by analysts at Argus from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, The Fly reports. The firm presently has a $57.00 price target on the financial services provider’s stock. Argus’ price objective points to a potential upside of 9.45% from the company’s current price.
A number of other brokerages have also issued reports on USB. Zacks Investment Research lowered U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, March 22nd. Wells Fargo & Company lowered U.S. Bancorp from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $38.48 to $52.31 in a research note on Thursday, May 4th. They noted that the move was a valuation call. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $55.00 price target on shares of U.S. Bancorp in a research note on Tuesday, April 4th. Rafferty Capital Markets lowered U.S. Bancorp from a “buy” rating to a “hold” rating and set a $53.00 price target on the stock. in a research note on Thursday, April 20th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $59.00 price target on shares of U.S. Bancorp in a research note on Friday, June 9th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $52.56.
Shares of U.S. Bancorp (NYSE:USB) opened at 52.08 on Thursday. The company has a market cap of $87.77 billion, a PE ratio of 15.78 and a beta of 0.86. U.S. Bancorp has a 12-month low of $41.13 and a 12-month high of $56.61. The company has a 50-day moving average of $51.94 and a 200 day moving average of $52.38.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.01. The company had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. U.S. Bancorp had a return on equity of 13.99% and a net margin of 25.86%. U.S. Bancorp’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the business earned $0.82 earnings per share. On average, equities research analysts expect that U.S. Bancorp will post $3.44 EPS for the current year.
U.S. Bancorp declared that its Board of Directors has approved a stock buyback plan on Wednesday, June 28th that allows the company to repurchase $2.60 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.
In related news, Vice Chairman Leslie V. Godridge sold 14,192 shares of the business’s stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $52.18, for a total value of $740,538.56. Following the sale, the insider now owns 62,303 shares in the company, valued at approximately $3,250,970.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Leslie V. Godridge sold 25,746 shares of the business’s stock in a transaction on Friday, April 21st. The shares were sold at an average price of $50.62, for a total value of $1,303,262.52. Following the completion of the sale, the insider now owns 73,857 shares in the company, valued at approximately $3,738,641.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,387 shares of company stock worth $3,573,382. Corporate insiders own 0.39% of the company’s stock.
A number of large investors have recently modified their holdings of USB. US Bancorp DE increased its stake in shares of 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. Bollard Group LLC boosted its position in U.S. Bancorp by 0.8% in the second quarter. Bollard Group LLC now owns 167,256 shares of the financial services provider’s stock valued at $8,684,000 after buying an additional 1,380 shares in the last quarter. Reilly Financial Advisors LLC boosted its position in U.S. Bancorp by 8.5% in the second quarter. Reilly Financial Advisors LLC now owns 29,942 shares of the financial services provider’s stock valued at $1,555,000 after buying an additional 2,355 shares in the last quarter. Prospera Financial Services Inc boosted its position in U.S. Bancorp by 11.6% in the second quarter. Prospera Financial Services Inc now owns 4,963 shares of the financial services provider’s stock valued at $258,000 after buying an additional 514 shares in the last quarter. Finally, Douglas Lane & Associates LLC boosted its position in U.S. Bancorp by 2.9% in the second quarter. Douglas Lane & Associates LLC now owns 1,269,684 shares of the financial services provider’s stock valued at $65,922,000 after buying an additional 35,261 shares in the last quarter. Institutional investors own 75.54% of the company’s stock.
About U.S. Bancorp
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.
Receive News & Ratings for U.S. Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.