Citigroup Lowers U.S. Bancorp (USB) to Neutral

Citigroup cut shares of U.S. Bancorp (NYSE:USB) from a buy rating to a neutral rating in a research note released on Friday morning, Marketbeat Ratings reports.

Other analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of U.S. Bancorp from a hold rating to a buy rating and set a $61.00 price objective on the stock in a research note on Tuesday, September 18th. Wedbush set a $58.00 price objective on shares of U.S. Bancorp and gave the stock a hold rating in a research note on Thursday, October 18th. ValuEngine upgraded shares of U.S. Bancorp from a sell rating to a hold rating in a research note on Wednesday, August 22nd. UBS Group set a $56.00 price objective on shares of U.S. Bancorp and gave the stock a hold rating in a research note on Monday, October 22nd. Finally, Nomura cut their price objective on shares of U.S. Bancorp from $60.00 to $54.00 and set a neutral rating on the stock in a research note on Thursday, October 18th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $59.36.

NYSE:USB opened at $52.61 on Friday. The firm has a market capitalization of $84.82 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 1.70 and a beta of 0.91. U.S. Bancorp has a 1-year low of $48.49 and a 1-year high of $58.50. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.91.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, October 17th. The financial services provider reported $1.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.02. The firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.68 billion. U.S. Bancorp had a net margin of 27.53% and a return on equity of 15.14%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.88 earnings per share. Research analysts predict that U.S. Bancorp will post 4.1 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend was Thursday, September 27th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.30. U.S. Bancorp’s dividend payout ratio (DPR) is currently 43.27%.

In related news, Vice Chairman Gillern Jeffry H. Von sold 17,508 shares of the firm’s stock in a transaction on Wednesday, October 24th. The shares were sold at an average price of $50.81, for a total transaction of $889,581.48. Following the sale, the insider now owns 121,137 shares in the company, valued at $6,154,970.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Vice Chairman Terrance R. Dolan sold 15,524 shares of the firm’s stock in a transaction on Thursday, October 18th. The shares were sold at an average price of $52.91, for a total transaction of $821,374.84. Following the sale, the insider now owns 124,086 shares in the company, valued at approximately $6,565,390.26. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in USB. Summit Trail Advisors LLC grew its position in shares of U.S. Bancorp by 45.1% in the first quarter. Summit Trail Advisors LLC now owns 6,286 shares of the financial services provider’s stock valued at $314,000 after purchasing an additional 1,954 shares during the period. American National Bank acquired a new stake in shares of U.S. Bancorp in the second quarter valued at about $314,000. Bath Savings Trust Co grew its position in shares of U.S. Bancorp by 34.7% in the second quarter. Bath Savings Trust Co now owns 11,045 shares of the financial services provider’s stock valued at $552,000 after purchasing an additional 2,845 shares during the period. Indiana Trust & Investment Management CO acquired a new stake in shares of U.S. Bancorp in the second quarter valued at about $731,000. Finally, DnB Asset Management AS acquired a new stake in shares of U.S. Bancorp in the second quarter valued at about $9,962,000. Institutional investors and hedge funds own 74.42% of the company’s stock.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

Further Reading: Average Daily Trade Volume – ADTV

Analyst Recommendations for U.S. Bancorp (NYSE:USB)

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