U.S. Bancorp (USB) Downgraded by UBS
UBS downgraded shares of U.S. Bancorp (NYSE:USB) from a buy rating to a neutral rating in a research note issued to investors on Tuesday, 99wallstreet.com reports. They currently have $60.00 price objective on the financial services provider’s stock, up from their prior price objective of $58.00.
A number of other brokerages also recently commented on USB. Citigroup reiterated a neutral rating and issued a $58.00 target price (up from $53.00) on shares of U.S. Bancorp in a report on Monday, October 9th. BidaskClub downgraded shares of U.S. Bancorp from a hold rating to a sell rating in a report on Thursday, August 24th. Jefferies Group reiterated a buy rating and issued a $62.00 target price on shares of U.S. Bancorp in a report on Thursday, October 12th. Nomura downgraded shares of U.S. Bancorp from a buy rating to a neutral rating and cut their price objective for the company from $57.00 to $55.00 in a report on Thursday, September 28th. Finally, Zacks Investment Research upgraded shares of U.S. Bancorp from a sell rating to a hold rating in a report on Monday, October 30th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $54.56.
Shares of U.S. Bancorp (NYSE:USB) traded down $0.45 during trading on Tuesday, reaching $54.15. 4,467,500 shares of the company’s stock were exchanged, compared to its average volume of 6,037,211. The company has a market capitalization of $90,608.20, a P/E ratio of 16.20, a PEG ratio of 2.13 and a beta of 0.85. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.83 and a quick ratio of 0.82. U.S. Bancorp has a fifty-two week low of $49.53 and a fifty-two week high of $56.61.
U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, October 18th. The financial services provider reported $0.88 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.88. The business had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.60 billion. U.S. Bancorp had a net margin of 25.46% and a return on equity of 13.91%. The firm’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 earnings per share. equities research analysts predict that U.S. Bancorp will post 3.43 EPS for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of USB. Stelac Advisory Services LLC purchased a new stake in U.S. Bancorp in the second quarter valued at approximately $103,000. Phocas Financial Corp. purchased a new stake in U.S. Bancorp in the second quarter valued at approximately $109,000. Horan Capital Advisors LLC. purchased a new stake in U.S. Bancorp in the third quarter valued at approximately $112,000. Pathstone Family Office LLC boosted its position in U.S. Bancorp by 13.2% in the second quarter. Pathstone Family Office LLC now owns 3,317 shares of the financial services provider’s stock valued at $172,000 after buying an additional 386 shares during the last quarter. Finally, San Francisco Sentry Investment Group CA boosted its position in U.S. Bancorp by 1,211.9% in the third quarter. San Francisco Sentry Investment Group CA now owns 3,306 shares of the financial services provider’s stock valued at $177,000 after buying an additional 3,054 shares during the last quarter. Hedge funds and other institutional investors own 74.07% of the company’s stock.
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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