U.S. Bancorp (USB) PT Raised to $57.00
U.S. Bancorp (NYSE:USB) had its price objective boosted by Nomura from $55.00 to $57.00 in a research note issued on Monday. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Nomura’s price target suggests a potential upside of 5.30% from the stock’s previous close.
Several other analysts have also issued reports on the stock. Argus upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Thursday, July 20th. BidaskClub upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Instinet lowered shares of U.S. Bancorp from a “buy” rating to a “neutral” rating and dropped their target price for the company from $57.00 to $55.00 in a research report on Thursday, September 28th. Robert W. Baird reiterated a “hold” rating and issued a $48.00 target price on shares of U.S. Bancorp in a research report on Friday, October 6th. Finally, Citigroup Inc. reiterated a “neutral” rating and issued a $58.00 target price (up previously from $53.00) on shares of U.S. Bancorp in a research report on Monday, October 9th. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the stock. U.S. Bancorp presently has an average rating of “Hold” and a consensus price target of $54.06.
Shares of U.S. Bancorp (NYSE USB) traded up 0.07% during mid-day trading on Monday, reaching $54.13. 4,938,874 shares of the company’s stock traded hands. The company has a market cap of $90.55 billion, a P/E ratio of 16.35 and a beta of 0.87. U.S. Bancorp has a 12-month low of $43.50 and a 12-month high of $56.61. The company’s 50 day moving average is $52.96 and its 200 day moving average is $52.12.
U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.88. U.S. Bancorp had a net margin of 28.23% and a return on equity of 13.82%. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.60 billion. During the same quarter last year, the business earned $0.84 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, analysts predict that U.S. Bancorp will post $3.43 EPS for the current fiscal year.
U.S. Bancorp declared that its Board of Directors has approved a share repurchase program on Wednesday, June 28th that permits the company to buyback $2.60 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
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A number of hedge funds have recently modified their holdings of USB. Waldron LP purchased a new position in U.S. Bancorp during the first quarter worth about $323,000. HPM Partners LLC purchased a new position in U.S. Bancorp during the first quarter worth about $3,735,000. Princeton Alpha Management LP raised its stake in shares of U.S. Bancorp by 98.0% in the 1st quarter. Princeton Alpha Management LP now owns 16,603 shares of the financial services provider’s stock valued at $855,000 after acquiring an additional 8,217 shares during the period. Davis R M Inc. raised its stake in shares of U.S. Bancorp by 3.7% in the 1st quarter. Davis R M Inc. now owns 804,042 shares of the financial services provider’s stock valued at $41,408,000 after acquiring an additional 28,494 shares during the period. Finally, Buffington Mohr McNeal raised its stake in shares of U.S. Bancorp by 9.7% in the 1st quarter. Buffington Mohr McNeal now owns 52,601 shares of the financial services provider’s stock valued at $2,709,000 after acquiring an additional 4,643 shares during the period. 73.95% of the stock is currently owned by institutional investors.
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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