U.S. Bancorp (NYSE:USB) had its target price increased by equities research analysts at Morgan Stanley from $51.00 to $55.00 in a research note issued on Thursday, October 19th. The firm currently has an “underweight” rating on the financial services provider’s stock. Morgan Stanley’s price objective points to a potential upside of 1.03% from the stock’s previous close.
A number of other analysts have also recently issued reports on the company. Argus upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a report on Thursday, July 20th. BidaskClub upgraded U.S. Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Instinet cut 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. Robert W. Baird restated a “hold” rating and issued a $48.00 price target on shares of U.S. Bancorp in a report on Friday, October 6th. Finally, Citigroup Inc. restated a “neutral” rating and issued a $58.00 price target (up previously from $53.00) on shares of U.S. Bancorp in a report on Monday, October 9th. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $54.06.
Shares of U.S. Bancorp (NYSE:USB) traded up 0.26% during mid-day trading on Thursday, reaching $54.44. 4,862,947 shares of the company’s stock were exchanged. The stock has a market capitalization of $91.07 billion, a PE ratio of 16.45 and a beta of 0.87. U.S. Bancorp has a 1-year low of $43.83 and a 1-year high of $56.61. The company’s 50 day moving average is $53.38 and its 200 day moving average is $52.23.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.88 EPS for the quarter, meeting 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 company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.60 billion. During the same quarter in the prior year, the company posted $0.84 EPS. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. Equities research analysts anticipate that U.S. Bancorp will post $3.43 EPS for the current fiscal year.
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Hedge funds have recently bought and sold shares of the stock. Shelton Capital Management raised its position in shares of U.S. Bancorp by 51.2% during the 1st quarter. Shelton Capital Management now owns 133,200 shares of the financial services provider’s stock valued at $6,860,000 after acquiring an additional 45,116 shares in the last quarter. Bank of Montreal Can increased its position in U.S. Bancorp by 2.6% in the second quarter. Bank of Montreal Can now owns 6,171,700 shares of the financial services provider’s stock worth $320,434,000 after buying an additional 159,319 shares during the period. Stratos Wealth Partners LTD. increased its position in U.S. Bancorp by 13.1% in the first quarter. Stratos Wealth Partners LTD. now owns 40,541 shares of the financial services provider’s stock worth $2,088,000 after buying an additional 4,683 shares during the period. TIAA CREF Investment Management LLC increased its position in U.S. Bancorp by 1.1% in the first quarter. TIAA CREF Investment Management LLC now owns 6,968,670 shares of the financial services provider’s stock worth $358,887,000 after buying an additional 73,504 shares during the period. Finally, Country Trust Bank increased its position in U.S. Bancorp by 2.2% in the second quarter. Country Trust Bank now owns 610,921 shares of the financial services provider’s stock worth $31,719,000 after buying an additional 13,130 shares during the period. 73.95% of the stock is currently owned by institutional investors and hedge funds.
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.
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