Zacks Investment Research upgraded shares of U.S. Bancorp (NYSE:USB) from a hold rating to a buy rating in a report published on Friday. The brokerage currently has $64.00 price objective on the financial services provider’s stock.
According to Zacks, “Shares of U.S. Bancorp have underperformed the industry over the last six months. However, the company boasts an impressive earnings surprise history. It has surpassed the Zacks Consensus Estimate for earnings in three out of the trailing four quarters. The company’s fourth-quarter 2017 earnings were aided by easing margin pressure on rising rates. Elevated average loans and deposit balances reflected organic growth. U.S. Bancorp's prospects will likely get support from its solid business model, core franchise, lower tax rate and diverse revenue streams. Also, the company’s organic growth remains solid and is likely to benefit from the improving economic scenario. However, escalating expenses and litigations remain key concerns. Additionally, stretched valuation underlines limited upside potential.”
USB has been the subject of a number of other reports. Piper Jaffray Companies raised U.S. Bancorp from a neutral rating to an overweight rating and set a $61.00 price objective for the company in a report on Friday, January 5th. Citigroup reissued a neutral rating and set a $58.00 price objective (up from $53.00) on shares of U.S. Bancorp in a report on Monday, October 9th. Royal Bank of Canada boosted their price objective on U.S. Bancorp to $61.00 and gave the stock an outperform rating in a report on Thursday, January 18th. Jefferies Group reissued a buy rating and set a $62.00 price objective on shares of U.S. Bancorp in a report on Thursday, October 12th. Finally, Morgan Stanley boosted their price objective on U.S. Bancorp from $60.00 to $61.00 and gave the stock an underweight rating in a report on Friday. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $58.13.
U.S. Bancorp (USB) opened at $54.62 on Friday. U.S. Bancorp has a 52 week low of $49.53 and a 52 week high of $58.50. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.81 and a current ratio of 0.82. The firm has a market capitalization of $90,640.00, a P/E ratio of 15.56, a P/E/G ratio of 1.89 and a beta of 0.87.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.01. U.S. Bancorp had a return on equity of 13.89% and a net margin of 25.91%. The business had revenue of $5.64 billion for the quarter, compared to the consensus estimate of $5.59 billion. During the same period in the prior year, the business earned $0.82 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. analysts anticipate that U.S. Bancorp will post 4.02 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Thursday, December 28th. U.S. Bancorp’s dividend payout ratio is presently 34.19%.
Hedge funds have recently added to or reduced their stakes in the company. Twin Tree Management LP grew its holdings in shares of U.S. Bancorp by 63.2% in the second quarter. Twin Tree Management LP now owns 34,326 shares of the financial services provider’s stock valued at $1,782,000 after acquiring an additional 13,295 shares in the last quarter. Oarsman Capital Inc. grew its holdings in U.S. Bancorp by 4.5% during the second quarter. Oarsman Capital Inc. now owns 11,430 shares of the financial services provider’s stock valued at $593,000 after purchasing an additional 488 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in U.S. Bancorp by 16.5% during the second quarter. Robeco Institutional Asset Management B.V. now owns 368,986 shares of the financial services provider’s stock valued at $19,158,000 after purchasing an additional 52,380 shares during the period. Ontario Teachers Pension Plan Board grew its holdings in U.S. Bancorp by 7.5% during the second quarter. Ontario Teachers Pension Plan Board now owns 210,974 shares of the financial services provider’s stock valued at $10,954,000 after purchasing an additional 14,678 shares during the period. Finally, Rockefeller Financial Services Inc. grew its holdings in U.S. Bancorp by 57.1% during the third quarter. Rockefeller Financial Services Inc. now owns 32,886 shares of the financial services provider’s stock valued at $1,762,000 after purchasing an additional 11,950 shares during the period. 74.08% of the stock is owned by institutional investors.
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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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