U.S. Bancorp (USB) Downgraded by Susquehanna to “Neutral”
U.S. Bancorp (NYSE:USB) was downgraded by equities researchers at Susquehanna from a “positive” rating to a “neutral” rating in a report released on Thursday, The Fly reports. The analysts noted that the move was a valuation call.
USB has been the subject of a number of other reports. Zacks Investment Research upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Friday, October 21st. Jefferies Group reissued a “hold” rating and set a $44.00 target price on shares of U.S. Bancorp in a research note on Wednesday, August 10th. Wells Fargo & Co. reissued a “buy” rating on shares of U.S. Bancorp in a research note on Friday, September 16th. Deutsche Bank AG increased their target price on U.S. Bancorp from $46.00 to $54.00 and gave the stock a “hold” rating in a research note on Wednesday. Finally, Oppenheimer Holdings Inc. reissued a “hold” rating on shares of U.S. Bancorp in a research note on Saturday, September 17th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $46.11.
Shares of U.S. Bancorp (NYSE:USB) opened at 49.62 on Thursday. The stock has a market cap of $84.34 billion, a price-to-earnings ratio of 15.36 and a beta of 0.80. The stock’s 50 day moving average price is $45.64 and its 200-day moving average price is $43.10. U.S. Bancorp has a 52 week low of $37.07 and a 52 week high of $49.77.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, October 19th. The financial services provider reported $0.84 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.84. The business earned $5.39 billion during the quarter, compared to analysts’ expectations of $5.35 billion. U.S. Bancorp had a return on equity of 13.92% and a net margin of 26.24%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.81 EPS. Equities analysts anticipate that U.S. Bancorp will post $3.24 earnings per share for the current fiscal year.
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In related news, Vice Chairman Terrance R. Dolan sold 55,205 shares of the firm’s stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $47.67, for a total transaction of $2,631,622.35. Following the transaction, the insider now owns 90,188 shares in the company, valued at approximately $4,299,261.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Kent V. Stone sold 51,798 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $46.69, for a total value of $2,418,448.62. Following the transaction, the insider now owns 109,742 shares in the company, valued at approximately $5,123,853.98. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC increased its position in shares of 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 valued at $105,000 after buying an additional 306 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of U.S. Bancorp during the second quarter valued at $106,000. First Personal Financial Services increased its position in shares of 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 valued at $112,000 after buying an additional 806 shares during the period. Bellwether Investment Group LLC bought a new position in shares of U.S. Bancorp during the second quarter valued at $116,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in shares of U.S. Bancorp by 0.4% in the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,955 shares of the financial services provider’s stock valued at $127,000 after buying an additional 11 shares during the period. Hedge funds and other institutional investors own 72.38% 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.
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