U.S. Bancorp (NYSE:USB) Rating Increased to Overweight at Morgan Stanley

U.S. Bancorp (NYSE:USB) was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Monday, MarketBeat reports. The brokerage presently has a $57.00 target price on the financial services provider’s stock, up from their prior target price of $54.00. Morgan Stanley’s target price indicates a potential upside of 28.21% from the stock’s current price.

Several other research firms have also commented on USB. UBS Group lifted their price target on shares of U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. downgraded U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price on the stock. in a research report on Thursday, June 27th. Citigroup increased their price target on U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Evercore ISI boosted their price objective on shares of U.S. Bancorp from $45.00 to $48.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. Finally, StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, U.S. Bancorp currently has an average rating of “Hold” and an average target price of $48.34.

U.S. Bancorp Stock Down 2.8 %

Shares of NYSE:USB opened at $44.46 on Monday. U.S. Bancorp has a 52-week low of $30.47 and a 52-week high of $47.31. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. The business has a fifty day moving average of $44.52 and a two-hundred day moving average of $42.42. The stock has a market cap of $69.38 billion, a P/E ratio of 14.72, a PEG ratio of 3.06 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.04. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The firm had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same period last year, the business earned $1.12 earnings per share. U.S. Bancorp’s revenue was down 4.3% compared to the same quarter last year. On average, research analysts expect that U.S. Bancorp will post 3.86 earnings per share for the current year.

U.S. Bancorp declared that its board has approved a stock buyback program on Thursday, September 12th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Aleem Gillani acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was acquired at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $449,900. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.23% of the stock is owned by company insiders.

Institutional Investors Weigh In On U.S. Bancorp

Several institutional investors have recently modified their holdings of USB. Valmark Advisers Inc. raised its position in shares of U.S. Bancorp by 2.9% during the 2nd quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock worth $346,000 after acquiring an additional 242 shares in the last quarter. Waldron Private Wealth LLC boosted its holdings in shares of U.S. Bancorp by 1.9% in the 2nd quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock valued at $534,000 after buying an additional 247 shares in the last quarter. Naples Global Advisors LLC grew its position in shares of U.S. Bancorp by 0.4% in the 2nd quarter. Naples Global Advisors LLC now owns 65,360 shares of the financial services provider’s stock valued at $2,624,000 after buying an additional 248 shares during the last quarter. Kavar Capital Partners Group LLC raised its stake in U.S. Bancorp by 4.7% during the 2nd quarter. Kavar Capital Partners Group LLC now owns 5,555 shares of the financial services provider’s stock worth $221,000 after acquiring an additional 250 shares in the last quarter. Finally, STAR Financial Bank lifted its position in U.S. Bancorp by 3.3% in the second quarter. STAR Financial Bank now owns 7,772 shares of the financial services provider’s stock valued at $309,000 after acquiring an additional 250 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.