U.S. Bancorp (NYSE:USB) Receives Average Recommendation of “Hold” from Brokerages

Shares of U.S. Bancorp (NYSE:USB) have been assigned a consensus recommendation of “Hold” from the seventeen research firms that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $57.08.

A number of equities research analysts recently issued reports on USB shares. Zacks Investment Research downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, April 15th. Deutsche Bank set a $59.00 price target on U.S. Bancorp and gave the company a “hold” rating in a report on Friday, July 26th. Bank of America upgraded U.S. Bancorp from an “underperform” rating to a “neutral” rating and raised their price target for the company from $49.00 to $55.00 in a report on Thursday, July 18th. Macquarie cut U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $59.00 price target on the stock. in a report on Thursday, August 1st. Finally, Morgan Stanley raised their price target on U.S. Bancorp from $55.00 to $56.00 and gave the company an “underweight” rating in a report on Thursday, July 18th.

In other U.S. Bancorp news, Vice Chairman Shailesh M. Kotwal sold 20,000 shares of U.S. Bancorp stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $57.33, for a total transaction of $1,146,600.00. Following the sale, the insider now directly owns 65,959 shares of the company’s stock, valued at approximately $3,781,429.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Gillern Jeffry H. Von sold 9,428 shares of U.S. Bancorp stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $55.25, for a total value of $520,897.00. Following the sale, the insider now directly owns 94,658 shares in the company, valued at $5,229,854.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,414 shares of company stock worth $2,297,215. Company insiders own 0.24% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of USB. Northern Trust Corp increased its position in shares of U.S. Bancorp by 0.9% in the 1st quarter. Northern Trust Corp now owns 20,320,154 shares of the financial services provider’s stock valued at $979,228,000 after purchasing an additional 190,324 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 acquiring an additional 1,285,265 shares during the period. Daily Journal Corp boosted its holdings in shares of U.S. Bancorp by 9,900.0% in the second quarter. Daily Journal Corp now owns 14,000,000 shares of the financial services provider’s stock worth $7,336,000 after acquiring an additional 13,860,000 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of U.S. Bancorp by 2.4% in the second quarter. Janus Henderson Group PLC now owns 13,382,530 shares of the financial services provider’s stock worth $701,230,000 after acquiring an additional 310,818 shares during the period. Finally, Clearbridge Investments LLC boosted its holdings in shares of U.S. Bancorp by 1.8% in the first quarter. Clearbridge Investments LLC now owns 11,207,103 shares of the financial services provider’s stock worth $540,070,000 after acquiring an additional 195,579 shares during the period. 74.63% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE USB traded down $0.95 during mid-day trading on Wednesday, hitting $52.61. 6,030,449 shares of the company’s stock traded hands, compared to its average volume of 6,065,279. The business has a 50-day moving average of $54.06. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.84 and a quick ratio of 0.83. The company has a market capitalization of $88.25 billion, a P/E ratio of 12.83, 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 $57.81.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The firm had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.73 billion. U.S. Bancorp had a return on equity of 15.45% and a net margin of 26.70%. The business’s revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.02 earnings per share. On average, equities analysts expect that U.S. Bancorp will post 4.31 EPS for the current fiscal year.

U.S. Bancorp declared that its Board of Directors has initiated a share buyback program on Thursday, June 27th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 3.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date was Thursday, June 27th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 36.10%.

About U.S. Bancorp

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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