U.S. Bancorp (NYSE:USB) was upgraded by research analysts at Piper Jaffray Companies from a “neutral” rating to an “overweight” rating in a research note issued to investors on Friday, Marketbeat.com reports. The firm currently has a $61.00 price target on the financial services provider’s stock. Piper Jaffray Companies’ price objective points to a potential upside of 10.27% from the stock’s previous close.
A number of other research firms have also weighed in on USB. Citigroup reissued a “neutral” rating and set a $58.00 target price (up from $53.00) on shares of U.S. Bancorp in a report on Monday, October 9th. Jefferies Group reissued a “buy” rating and set a $62.00 target price on shares of U.S. Bancorp in a report on Thursday, October 12th. Nomura lowered U.S. Bancorp from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $57.00 to $55.00 in a report on Thursday, September 28th. Zacks Investment Research raised U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Monday, October 30th. Finally, Bank of America lowered U.S. Bancorp from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $56.00 to $54.00 in a report on Monday, October 2nd. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the stock. U.S. Bancorp currently has a consensus rating of “Hold” and a consensus price target of $55.71.
U.S. Bancorp (NYSE USB) traded up $0.34 during mid-day trading on Friday, hitting $55.32. The company had a trading volume of 6,556,866 shares, compared to its average volume of 5,380,000. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a market cap of $91,800.00, a price-to-earnings ratio of 16.46, a PEG ratio of 1.94 and a beta of 0.85. U.S. Bancorp has a 1-year low of $49.53 and a 1-year high of $56.61.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of U.S. Bancorp by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 105,568,014 shares of the financial services provider’s stock valued at $5,481,092,000 after acquiring an additional 1,727,498 shares during the period. New England Asset Management Inc. lifted its position in shares of U.S. Bancorp by 52.5% during the 1st 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. lifted its position in shares of U.S. Bancorp by 0.7% during the 2nd 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. Janus Henderson Group PLC lifted its position in shares of U.S. Bancorp by 4.5% during the 3rd quarter. Janus Henderson Group PLC now owns 13,226,329 shares of the financial services provider’s stock valued at $708,794,000 after acquiring an additional 572,794 shares during the period. Finally, First Eagle Investment Management LLC lifted its position in shares of U.S. Bancorp by 2.4% during the 3rd quarter. First Eagle Investment Management LLC now owns 11,901,940 shares of the financial services provider’s stock valued at $637,825,000 after acquiring an additional 276,373 shares during the period. Institutional investors and hedge funds 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.
