Investors Buy Shares of U.S. Bancorp (USB) on Weakness
Traders bought shares of U.S. Bancorp (NYSE:USB) on weakness during trading hours on Friday. $84.43 million flowed into the stock on the tick-up and $24.83 million flowed out of the stock on the tick-down, for a money net flow of $59.60 million into the stock. Of all companies tracked, U.S. Bancorp had the 11th highest net in-flow for the day. U.S. Bancorp traded down ($0.04) for the day and closed at $51.68
USB has been the subject of several analyst reports. Wells Fargo & Company lowered U.S. Bancorp from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $38.48 to $52.31 in a research note on Thursday, May 4th. They noted that the move was a valuation call. Jefferies Group LLC reaffirmed a “buy” rating and issued a $59.00 price objective on shares of U.S. Bancorp in a research note on Friday, June 9th. BidaskClub raised U.S. Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, July 19th. Finally, Argus raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Thursday, July 20th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $52.85.
The stock has a market capitalization of $86.45 billion, a price-to-earnings ratio of 15.61 and a beta of 0.86. The firm’s 50 day moving average price is $52.47 and its 200 day moving average price is $52.54.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.01. The company had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.46 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.82 earnings per share. On average, equities research analysts predict that U.S. Bancorp will post $3.44 earnings per share for the current year.
U.S. Bancorp declared that its board has approved a share repurchase program on Wednesday, June 28th that permits the company to buyback $2.60 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in USB. Stelac Advisory Services LLC purchased a new position in U.S. Bancorp during the second quarter worth approximately $103,000. SRS Capital Advisors Inc. boosted its position in U.S. Bancorp by 17.0% in the first quarter. SRS Capital Advisors Inc. now owns 2,547 shares of the financial services provider’s stock worth $131,000 after buying an additional 371 shares during the period. Orrstown Financial Services Inc. boosted its position in U.S. Bancorp by 30.4% in the second quarter. Orrstown Financial Services Inc. now owns 2,921 shares of the financial services provider’s stock worth $152,000 after buying an additional 681 shares during the period. Signature Estate & Investment Advisors LLC purchased a new position in U.S. Bancorp during the first quarter worth approximately $155,000. Finally, WealthTrust Arizona LLC boosted its position in U.S. Bancorp by 31.8% in the first quarter. WealthTrust Arizona LLC now owns 3,033 shares of the financial services provider’s stock worth $156,000 after buying an additional 732 shares during the period. Institutional investors own 76.25% of the company’s stock.
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U.S. Bancorp Company Profile
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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