U.S. Bancorp (NYSE:USB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday, October 17th.
According to Zacks, “Shares of U.S. Bancorp have underperformed the industry year to date. Estimates have declined lately ahead of the company's third-quarter earnings release. However, the company boasts an impressive earnings surprise history. The company has surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. We believe the company’s prospects will likely get support from its solid business model, core franchise and diverse revenue streams. However, escalating expenses and litigations remain key concerns. Also, stretched valuation indicates limited upside potential.”
A number of other research analysts also recently commented on the stock. Jefferies Group LLC reaffirmed a “buy” rating and set a $59.00 price objective on shares of U.S. Bancorp in a research report on Friday, August 11th. Argus raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research report on Thursday, July 20th. BidaskClub raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Robert W. Baird reiterated a “hold” rating and issued a $48.00 target price on shares of U.S. Bancorp in a research note on Friday, October 6th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, July 19th. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company. U.S. Bancorp has a consensus rating of “Hold” and an average price target of $54.06.
U.S. Bancorp (NYSE USB) opened at 54.44 on Tuesday. The company has a 50-day moving average price of $53.16 and a 200-day moving average price of $52.19. U.S. Bancorp has a 52 week low of $43.83 and a 52 week high of $56.61. The stock has a market cap of $91.07 billion, a price-to-earnings ratio of 16.45 and a beta of 0.87.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.88. The company had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.60 billion. U.S. Bancorp had a net margin of 25.46% and a return on equity of 13.91%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 EPS. Equities research analysts anticipate that U.S. Bancorp will post $3.43 EPS for the current year.
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Several large investors have recently made changes to their positions in USB. Janus Henderson Group PLC raised its position in shares of U.S. Bancorp by 5,598.0% in the 2nd quarter. Janus Henderson Group PLC now owns 12,653,535 shares of the financial services provider’s stock valued at $656,975,000 after acquiring an additional 12,431,466 shares during the period. New England Asset Management Inc. raised its position in shares of U.S. Bancorp by 52.5% in 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. Principal Financial Group Inc. raised its position in shares of U.S. Bancorp by 154.2% in the 2nd quarter. Principal Financial Group Inc. now owns 5,836,557 shares of the financial services provider’s stock valued at $303,034,000 after acquiring an additional 3,540,530 shares during the period. Alecta Pensionsforsakring Omsesidigt increased its stake in U.S. Bancorp by 1,130.0% during the 1st quarter. Alecta Pensionsforsakring Omsesidigt now owns 2,460,000 shares of the financial services provider’s stock worth $126,690,000 after purchasing an additional 2,260,000 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in 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 worth $5,481,092,000 after purchasing an additional 1,727,498 shares in the last quarter. 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.
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