Shares of U.S. Bancorp (NYSE:USB) have been given an average recommendation of “Hold” by the eighteen analysts that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $52.73.
USB has been the subject of several analyst reports. Rafferty Capital Markets lowered U.S. Bancorp from a “buy” rating to a “hold” rating and set a $53.00 price objective for the company. in a research report on Thursday, April 20th. Wells Fargo & Company lowered U.S. Bancorp from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $38.48 to $52.31 in a research report on Thursday, May 4th. They noted that the move was a valuation call. Jefferies Group LLC reiterated a “buy” rating and issued a $59.00 price objective on shares of U.S. Bancorp in a research report on Friday, June 9th. BidaskClub upgraded U.S. Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, July 19th.
U.S. Bancorp (USB) traded down 0.92% during midday trading on Tuesday, hitting $52.74. The stock had a trading volume of 706,045 shares. The firm has a 50-day moving average of $52.29 and a 200-day moving average of $52.54. U.S. Bancorp has a 12-month low of $42.17 and a 12-month high of $56.61. The company has a market cap of $88.22 billion, a PE ratio of 15.93 and a beta of 0.86.
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. Equities research analysts forecast that U.S. Bancorp will post $3.44 EPS for the current year.
U.S. Bancorp announced that its board has authorized a share buyback plan on Wednesday, June 28th that allows the company to repurchase $2.60 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend was Wednesday, June 28th. U.S. Bancorp’s dividend payout ratio is presently 33.63%.
In other U.S. Bancorp news, Vice Chairman P.W. Parker sold 29,449 shares of the firm’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $51.94, for a total value of $1,529,581.06. Following the sale, the insider now directly owns 307,698 shares in the company, valued at $15,981,834.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.39% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the stock. Hudock Capital Group LLC boosted its stake in U.S. Bancorp by 0.4% in the first quarter. Hudock Capital Group LLC now owns 3,787 shares of the financial services provider’s stock worth $195,000 after buying an additional 16 shares in the last quarter. BSW Wealth Partners boosted its stake in U.S. Bancorp by 0.6% in the second quarter. BSW Wealth Partners now owns 3,995 shares of the financial services provider’s stock worth $207,000 after buying an additional 22 shares in the last quarter. Beese Fulmer Investment Management Inc. boosted its stake in U.S. Bancorp by 0.4% in the first quarter. Beese Fulmer Investment Management Inc. now owns 5,610 shares of the financial services provider’s stock worth $289,000 after buying an additional 25 shares in the last quarter. First National Bank of Hutchinson boosted its stake in U.S. Bancorp by 0.3% in the second quarter. First National Bank of Hutchinson now owns 10,838 shares of the financial services provider’s stock worth $576,000 after buying an additional 32 shares in the last quarter. Finally, D. Scott Neal Inc. boosted its stake in U.S. Bancorp by 0.5% in the first quarter. D. Scott Neal Inc. now owns 7,488 shares of the financial services provider’s stock worth $386,000 after buying an additional 36 shares in the last quarter. Institutional investors own 75.84% 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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