U.S. Bancorp (NYSE:USB)‘s stock had its “buy” rating reiterated by stock analysts at Jefferies Group LLC in a report issued on Friday. They currently have a $59.00 price target on the financial services provider’s stock. Jefferies Group LLC’s target price indicates a potential upside of 13.35% from the stock’s previous close.

USB has been the topic of several other reports. Wells Fargo & Company initiated coverage on U.S. Bancorp in a research note on Wednesday. They issued a “market perform” rating and a $56.00 price objective on the stock. BidaskClub lowered U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Argus raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Thursday, July 20th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, July 19th. Finally, Rafferty Capital Markets lowered U.S. Bancorp from a “buy” rating to a “hold” rating and set a $53.00 price objective on the stock. in a research note on Thursday, April 20th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $52.85.

Shares of U.S. Bancorp (NYSE:USB) traded down 0.63% on Friday, reaching $52.05. 4,448,688 shares of the company traded hands. The firm’s 50 day moving average is $52.32 and its 200 day moving average is $52.55. The company has a market capitalization of $87.07 billion, a P/E ratio of 15.73 and a beta of 0.86. U.S. Bancorp has a one year low of $42.17 and a one year high of $56.61.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 EPS for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.01. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. The company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.46 billion. During the same quarter last year, the business earned $0.82 earnings per share. U.S. Bancorp’s revenue was up .7% on a year-over-year basis. Analysts expect that U.S. Bancorp will post $3.44 earnings per share for the current fiscal year.

U.S. Bancorp declared that its Board of Directors has initiated a share buyback program on Wednesday, June 28th that authorizes the company to buyback $2.60 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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In other news, Vice Chairman P.W. Parker sold 29,449 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $51.94, for a total transaction of $1,529,581.06. Following the completion of the transaction, the insider now directly owns 307,698 shares in the company, valued at $15,981,834.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.39% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the company. New England Asset Management Inc. increased its position in shares of U.S. Bancorp by 52.5% in the first quarter. New England Asset Management Inc. now owns 26,571,846 shares of the financial services provider’s stock worth $1,368,451,000 after buying an additional 9,150,126 shares during the period. Principal Financial Group Inc. increased its position in shares of U.S. Bancorp by 154.2% in the second quarter. Principal Financial Group Inc. now owns 5,836,557 shares of the financial services provider’s stock worth $303,034,000 after buying an additional 3,540,530 shares during the period. Alecta Pensionsforsakring Omsesidigt increased its position in shares of U.S. Bancorp by 1,130.0% in the first quarter. Alecta Pensionsforsakring Omsesidigt now owns 2,460,000 shares of the financial services provider’s stock worth $126,690,000 after buying an additional 2,260,000 shares during the period. Vanguard Group Inc. increased its position in shares of U.S. Bancorp by 1.7% in the second quarter. Vanguard Group Inc. now owns 105,568,014 shares of the financial services provider’s stock worth $5,481,092,000 after buying an additional 1,727,498 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of U.S. Bancorp by 54.2% in the first quarter. AQR Capital Management LLC now owns 4,698,271 shares of the financial services provider’s stock worth $241,961,000 after buying an additional 1,652,219 shares during the period. Institutional investors own 75.84% 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.

Analyst Recommendations for U.S. Bancorp (NYSE:USB)

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