U.S. Bancorp (NYSE:USB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday, October 24th.
According to Zacks, “Shares of U.S. Bancorp have underperformed the industry, year to date. 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. Notably, third-quarter 2017 earnings came in line with the Zacks Consensus Estimate. Easing margin pressure on rising rates and high net interest income was witnessed in the quarter. Average loans and deposits balances also escalated. However, mortgage banking revenues and higher provisions disappointed. 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 underlines limited upside potential.”
USB has been the subject of a number of other reports. Nomura increased their target price on shares of U.S. Bancorp from $55.00 to $57.00 and gave the stock a “neutral” rating in a report on Monday, October 23rd. BidaskClub lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. Citigroup Inc. reissued a “neutral” rating and issued a $58.00 price target (up from $53.00) on shares of U.S. Bancorp in a research note on Monday, October 9th. Robert W. Baird reissued a “hold” rating and issued a $48.00 price target on shares of U.S. Bancorp in a research note on Tuesday, September 5th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, July 19th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company’s stock. U.S. Bancorp currently has an average rating of “Hold” and a consensus price target of $53.82.
Shares of U.S. Bancorp (NYSE USB) opened at $51.61 on Tuesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.82 and a current ratio of 0.83. The firm has a market cap of $86,476.08, a PE ratio of 15.46, a PEG ratio of 2.03 and a beta of 0.86. U.S. Bancorp has a 1-year low of $47.43 and a 1-year high of $56.61.
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. The company had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.60 billion. U.S. Bancorp had a net margin of 25.46% and a return on equity of 13.91%. U.S. Bancorp’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 earnings per share. research analysts predict that U.S. Bancorp will post 3.43 EPS for the current year.
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Several large investors have recently bought and sold shares of the company. Shelton Capital Management boosted its holdings in U.S. Bancorp by 51.2% in the first quarter. Shelton Capital Management now owns 133,200 shares of the financial services provider’s stock worth $6,860,000 after purchasing an additional 45,116 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in U.S. Bancorp by 16.5% in the second quarter. Robeco Institutional Asset Management B.V. now owns 368,986 shares of the financial services provider’s stock worth $19,158,000 after purchasing an additional 52,380 shares during the last quarter. Bank of Montreal Can boosted its holdings 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 purchasing an additional 159,319 shares during the last quarter. Stratos Wealth Partners LTD. boosted its holdings 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 purchasing an additional 4,683 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its holdings 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 purchasing an additional 73,504 shares during the last quarter. Hedge funds and other institutional investors own 74.23% of the company’s stock.
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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