Investment Analysts’ Weekly Ratings Changes for US Bancorp (USB)
US Bancorp (NYSE: USB) was the recipient of a ratings changes during the seven days:
- US Bancorp was downgraded by analysts at Bank of America from a “buy” rating to a “neutral” rating. They now have a $35.00 price target on the stock, down previously from $37.00. They noted that the move was a valuation call. They noted that the move was a valuation call.
- US Bancorp had its price target raised by analysts at ISI Group to $37.00. They wrote, “USB’s reported EPS included 3 1-time items that netted out to no impact: a $60mn gain on KEY’s repurchase of a credit card portfolio, USB’s 9.5% stake of Nuveen’s $385mn goodwill write-down, and an incremental charge-off (and provision) to account for the new OCC guidance on consumers in bankruptcy. In stark contrast to other regional banks that have already reported, USB was able to keep its NIM stable and increase its net interest income from 2Q12. That should help the stock remain solid today. However, we still worry that USB will experience NIM pressure over the next few quarters. Also, 3Q fee income was slightly below our estimates.”
- US Bancorp was upgraded by analysts at Susquehanna from a “neutral” rating to a “positive” rating. They now have a $40.00 price target on the stock, up previously from $34.00.
- US Bancorp had its “outperform” rating reaffirmed by analysts at FBR Capital. They now have a $36.00 price target on the stock.
- US Bancorp had its “neutral” rating reaffirmed by analysts at Zacks. They now have a $36.00 price target on the stock. Zacks‘ analyst wrote, “Aided by growth in revenue as well as positive operating leverage, U.S. Bancorp’s third quarter 2012 earnings per share outpaced the Zacks Consensus Estimate. Top line was supported by growth in net interest income and fee-based revenue. Higher mortgage banking revenue primarily contributed to this uptick. While the company’s results were impacted by a number of one-time items in the reported quarter, the impact of these items taken together was nil on its third quarter earnings per share. Nevertheless, its attractive core franchisee, diverse revenue stream and strong performance in the past years are impressive. Solid capital position and increase in lending activities augur well. Yet, regulatory issues along with the expectation of a continued low interest rate environment are likely to limit the stock’s upside potential in the upcoming quarters. Hence, after reviewing the results, we are retaining our Neutral recommendation on the shares.”
Shares of US Bancorp opened at 34.40 on Friday. US Bancorp has a 52 week low of $23.72 and a 52 week high of $35.46. The company has a market cap of $65.198 billion and a P/E ratio of 12.64.
U.S. Bancorp (U.S. Bancorp) is a multi-state financial services holding company. It provides a range of financial services, including lending and depository services, cash management, foreign exchange and trust and investment management services.