U.S. Bancorp (NYSE:USB) Upgraded by Bank of America to Neutral

Bank of America upgraded shares of U.S. Bancorp (NYSE:USB) from an underperform rating to a neutral rating in a research report sent to investors on Thursday, AnalystRatings.com reports. The firm currently has $55.00 price target on the financial services provider’s stock, up from their prior price target of $49.00.

USB has been the subject of a number of other reports. Oppenheimer set a $15.00 target price on shares of Strongbridge Biopharma and gave the stock a buy rating in a report on Tuesday, March 26th. Zacks Investment Research upgraded shares of GreenTree Hospitality Group from a sell rating to a hold rating in a report on Monday, April 15th. Finally, JPMorgan Chase & Co. started coverage on shares of Pinduoduo in a report on Tuesday, July 9th. They set an underweight rating and a $20.48 target price for the company. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $56.63.

U.S. Bancorp stock opened at $55.00 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.86. The business’s 50-day moving average price is $52.69. The stock has a market capitalization of $87.56 billion, a price-to-earnings ratio of 13.41, a P/E/G ratio of 1.84 and a beta of 1.06. U.S. Bancorp has a 1-year low of $43.14 and a 1-year high of $55.56.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.02. The company had revenue of $5.58 billion during the quarter, compared to analyst estimates of $5.73 billion. U.S. Bancorp had a net margin of 26.70% and a return on equity of 15.45%. U.S. Bancorp’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.02 earnings per share. Sell-side analysts anticipate that U.S. Bancorp will post 4.29 earnings per share for the current year.

U.S. Bancorp declared that its board has initiated a share buyback program on Thursday, June 27th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend was Thursday, June 27th. U.S. Bancorp’s payout ratio is currently 36.10%.

In related news, Vice Chairman Gillern Jeffry H. Von sold 4,669 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $53.14, for a total value of $248,110.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.24% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in USB. Geode Capital Management LLC raised its stake in U.S. Bancorp by 7.5% in the fourth quarter. Geode Capital Management LLC now owns 18,322,754 shares of the financial services provider’s stock worth $835,766,000 after buying an additional 1,285,265 shares in the last quarter. Principal Financial Group Inc. raised its stake in U.S. Bancorp by 2.8% in the fourth quarter. Principal Financial Group Inc. now owns 5,379,240 shares of the financial services provider’s stock worth $245,831,000 after buying an additional 146,848 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in U.S. Bancorp in the fourth quarter worth about $5,148,000. AT Bancorp raised its stake in U.S. Bancorp by 10.1% in the fourth quarter. AT Bancorp now owns 20,530 shares of the financial services provider’s stock worth $938,000 after buying an additional 1,888 shares in the last quarter. Finally, GYL Financial Synergies LLC bought a new position in shares of U.S. Bancorp during the fourth quarter valued at approximately $264,000. 74.63% of the stock is owned by institutional investors.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

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Analyst Recommendations for U.S. Bancorp (NYSE:USB)

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