U.S. Bancorp (USB) Earns “Hold” Rating from Oppenheimer Holdings, Inc.
U.S. Bancorp (NYSE:USB)‘s stock had its “hold” rating reaffirmed by research analysts at Oppenheimer Holdings, Inc. in a note issued to investors on Thursday. Oppenheimer Holdings also issued estimates for U.S. Bancorp’s FY2017 earnings at $3.43 EPS and FY2018 earnings at $3.74 EPS.
Other equities research analysts have also issued reports about the stock. Wells Fargo & Company assumed coverage on shares of U.S. Bancorp in a report on Wednesday, August 9th. They set a “market perform” rating and a $56.00 target price on the stock. BidaskClub lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th. Bank of America Corporation lowered shares of U.S. Bancorp from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $56.00 to $54.00 in a research note on Monday, October 2nd. Zacks Investment Research lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $59.00 price objective on shares of U.S. Bancorp in a research note on Friday, August 11th. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $53.94.
Shares of U.S. Bancorp (NYSE:USB) traded up 0.93% during trading on Thursday, reaching $54.09. 7,021,552 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $52.96 and its 200-day moving average price is $52.12. U.S. Bancorp has a 52-week low of $43.50 and a 52-week high of $56.61. The stock has a market cap of $90.17 billion, a PE ratio of 16.29 and a beta of 0.87.
U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.88. U.S. Bancorp had a net margin of 25.46% and a return on equity of 13.91%. The firm had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.60 billion. During the same period in the previous year, the firm posted $0.84 EPS. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, equities research analysts forecast that U.S. Bancorp will post $3.43 EPS for the current year.
U.S. Bancorp declared that its Board of Directors has authorized a share repurchase program on Wednesday, June 28th that allows the company to buyback $2.60 billion in shares. This buyback authorization allows the financial services provider to buy up to 3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in U.S. Bancorp by 1.7% during 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 purchasing an additional 1,727,498 shares during the period. State Street Corp boosted its position in shares of U.S. Bancorp by 1.2% in the first quarter. State Street Corp now owns 75,509,050 shares of the financial services provider’s stock valued at $3,888,995,000 after acquiring an additional 903,504 shares during the period. New England Asset Management Inc. boosted 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 valued at $1,368,451,000 after acquiring an additional 9,150,126 shares during the period. Franklin Resources Inc. boosted its position in shares of U.S. Bancorp by 0.7% in the second quarter. Franklin Resources Inc. now owns 16,019,884 shares of the financial services provider’s stock valued at $831,753,000 after acquiring an additional 110,571 shares during the period. Finally, US Bancorp DE boosted its position 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 acquiring an additional 259,093 shares during the period. Hedge funds and other institutional investors own 73.95% of the company’s stock.
U.S. Bancorp Company Profile
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.
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