U.S. Bancorp (NYSE:USB) had its target price cut by equities researchers at Morgan Stanley from $62.00 to $61.00 in a report released on Thursday, BenzingaRatingsTable reports. The firm currently has an “underweight” rating on the financial services provider’s stock. Morgan Stanley’s price target points to a potential upside of 11.44% from the company’s previous close.
USB has been the subject of several other reports. JPMorgan Chase & Co. lowered U.S. Bancorp from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $58.00 to $55.50 in a research report on Thursday. Odeon Capital Group initiated coverage on U.S. Bancorp in a research report on Thursday, December 5th. They issued a “hold” rating for the company. Citigroup raised U.S. Bancorp from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $49.00 to $62.00 in a research report on Monday, December 16th. Goldman Sachs Group lowered U.S. Bancorp from a “neutral” rating to a “sell” rating and set a $55.00 price target for the company. in a research report on Monday, January 6th. Finally, Wedbush reduced their target price on U.S. Bancorp from $56.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday. Six investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $58.72.
Shares of USB traded down $0.23 during trading hours on Thursday, hitting $54.74. The company had a trading volume of 406,597 shares, compared to its average volume of 5,456,567. The company has a market capitalization of $88.39 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 2.13 and a beta of 1.11. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.86. U.S. Bancorp has a one year low of $47.57 and a one year high of $61.11. The company’s fifty day moving average price is $59.16 and its two-hundred day moving average price is $56.05.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.08 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.08. The firm had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.78 billion. U.S. Bancorp had a return on equity of 15.39% and a net margin of 26.54%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.07 EPS. Analysts forecast that U.S. Bancorp will post 4.34 earnings per share for the current year.
In other news, insider Leslie V. Godridge sold 26,084 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $59.06, for a total value of $1,540,521.04. Following the sale, the insider now owns 65,414 shares in the company, valued at $3,863,350.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew Cecere sold 165,564 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $58.81, for a total value of $9,736,818.84. Following the completion of the sale, the chief executive officer now owns 900,118 shares in the company, valued at approximately $52,935,939.58. The disclosure for this sale can be found here. Insiders sold 229,161 shares of company stock worth $13,483,396 over the last three months. Corporate insiders own 0.24% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Simon Quick Advisors LLC boosted its stake in shares of U.S. Bancorp by 1,060.0% in the fourth quarter. Simon Quick Advisors LLC now owns 464 shares of the financial services provider’s stock worth $28,000 after buying an additional 424 shares during the last quarter. Lenox Wealth Advisors LLC purchased a new stake in shares of U.S. Bancorp in the third quarter worth about $33,000. Bridger Capital Management LLC purchased a new stake in shares of U.S. Bancorp in the third quarter worth about $33,000. Allred Capital Management LLC purchased a new stake in shares of U.S. Bancorp in the fourth quarter worth about $33,000. Finally, Old North State Trust LLC boosted its stake in shares of U.S. Bancorp by 99.1% in the third quarter. Old North State Trust LLC now owns 667 shares of the financial services provider’s stock worth $37,000 after buying an additional 332 shares during the last quarter. Hedge funds and other institutional investors own 75.23% 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. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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