U.S. Bancorp (USB) Coverage Initiated by Analysts at Wedbush
Wedbush assumed coverage on shares of U.S. Bancorp (NYSE:USB) in a research report released on Thursday morning. The firm issued a neutral rating and a $46.00 price objective on the financial services provider’s stock.
Several other brokerages also recently commented on USB. Portales Partners upgraded U.S. Bancorp from a sector perform rating to an outperform rating in a research report on Thursday, August 25th. Credit Agricole SA lifted their target price on U.S. Bancorp from $43.00 to $45.00 and gave the stock an underperform rating in a report on Friday, September 23rd. Wells Fargo & Co. reaffirmed a buy rating on shares of U.S. Bancorp in a report on Friday, September 16th. Jefferies Group reaffirmed a hold rating and issued a $44.00 target price on shares of U.S. Bancorp in a report on Wednesday, August 10th. Finally, Oppenheimer Holdings Inc. reaffirmed a hold rating on shares of U.S. Bancorp in a report on Saturday, September 17th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and eleven have issued a buy rating to the company’s stock. U.S. Bancorp has a consensus rating of Hold and a consensus price target of $45.21.
U.S. Bancorp (NYSE:USB) traded down 0.64% during midday trading on Thursday, reaching $43.61. The company’s stock had a trading volume of 3,164,023 shares. U.S. Bancorp has a 12-month low of $37.07 and a 12-month high of $44.58. The firm has a market cap of $74.64 billion, a price-to-earnings ratio of 13.67 and a beta of 0.82. The company’s 50-day moving average is $43.31 and its 200 day moving average is $42.02.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Friday, July 15th. The financial services provider reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.03. U.S. Bancorp had a return on equity of 14.05% and a net margin of 26.56%. The business had revenue of $5.45 billion for the quarter. During the same quarter in the previous year, the firm earned $0.80 earnings per share. U.S. Bancorp’s revenue was up 8.1% on a year-over-year basis. Equities analysts forecast that U.S. Bancorp will post $3.25 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.55%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, September 28th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 35.00%.
In other U.S. Bancorp news, Vice Chairman Gillern Jeffry H. Von sold 102,961 shares of the stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $42.00, for a total transaction of $4,324,362.00. Following the transaction, the insider now directly owns 178,422 shares in the company, valued at approximately $7,493,724. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Craig E. Gifford sold 2,500 shares of the stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $41.87, for a total transaction of $104,675.00. Following the transaction, the executive vice president now owns 49,881 shares in the company, valued at $2,088,517.47. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Chicago Partners Investment Group LLC increased its position in U.S. Bancorp by 13.3% in the second quarter. Chicago Partners Investment Group LLC now owns 2,606 shares of the financial services provider’s stock worth $105,000 after buying an additional 306 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new position in U.S. Bancorp during the second quarter worth approximately $106,000. First Personal Financial Services increased its position in U.S. Bancorp by 40.7% in the second quarter. First Personal Financial Services now owns 2,784 shares of the financial services provider’s stock worth $112,000 after buying an additional 806 shares during the period. Bellwether Investment Group LLC bought a new position in U.S. Bancorp during the second quarter worth approximately $116,000. Finally, Hudock Capital Group LLC increased its position in U.S. Bancorp by 0.5% in the second quarter. Hudock Capital Group LLC now owns 3,734 shares of the financial services provider’s stock worth $150,000 after buying an additional 19 shares during the period. Hedge funds and other institutional investors own 72.58% of the company’s stock.
About U.S. Bancorp
U.S. Bancorp is a multi-state financial services holding company. The Company’s banking subsidiary, U.S. Bank National Association, is engaged in the general banking business in domestic markets. It provides a range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services.
Receive News & Ratings for U.S. Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.