U.S. Bancorp (USB) Stock Rating Lowered by Piper Jaffray Cos.
U.S. Bancorp (NYSE:USB) was downgraded by equities researchers at Piper Jaffray Cos. from an “overweight” rating to a “neutral” rating in a research report issued on Wednesday.
Several other research firms have also issued reports on USB. Morgan Stanley lowered shares of U.S. Bancorp from an “equal weight” rating to an “underweight” rating and set a $49.00 target price on the stock. in a report on Monday. They noted that the move was a valuation call. Zacks Investment Research lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Monday, September 19th. Portales Partners upgraded shares of U.S. Bancorp from a “sector perform” rating to an “outperform” rating in a report on Thursday, August 25th. RBC Capital Markets reiterated an “outperform” rating and set a $48.00 price objective (up previously from $47.00) on shares of U.S. Bancorp in a report on Saturday, October 22nd. Finally, Wedbush initiated coverage on shares of U.S. Bancorp in a report on Thursday, October 6th. They set a “neutral” rating and a $46.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. U.S. Bancorp presently has a consensus rating of “Hold” and a consensus target price of $45.37.
U.S. Bancorp (NYSE:USB) opened at 48.68 on Wednesday. The company has a market cap of $82.74 billion, a PE ratio of 15.07 and a beta of 0.80. U.S. Bancorp has a one year low of $37.07 and a one year high of $48.77. The stock has a 50 day moving average price of $44.40 and a 200 day moving average price of $42.73.
U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, October 19th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.84. The business had revenue of $5.39 billion for the quarter, compared to analyst estimates of $5.35 billion. U.S. Bancorp had a net margin of 26.24% and a return on equity of 13.92%. U.S. Bancorp’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.81 earnings per share. On average, equities analysts anticipate that U.S. Bancorp will post $3.24 EPS for the current fiscal year.
In related news, insider Andrew Cecere sold 416,219 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $44.85, for a total transaction of $18,667,422.15. Following the sale, the insider now directly owns 633,704 shares in the company, valued at approximately $28,421,624.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Terrance R. Dolan sold 55,205 shares of the company’s stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $47.67, for a total transaction of $2,631,622.35. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Clark Capital Management Group Inc. boosted its stake in U.S. Bancorp by 32.6% in the first quarter. Clark Capital Management Group Inc. now owns 8,274 shares of the financial services provider’s stock valued at $336,000 after buying an additional 2,036 shares in the last quarter. A.R.T. Advisors LLC purchased a new stake in U.S. Bancorp during the first quarter valued at about $1,042,000. Atlanta Capital Management Co. L L C boosted its stake in U.S. Bancorp by 16.3% in the first quarter. Atlanta Capital Management Co. L L C now owns 672,700 shares of the financial services provider’s stock valued at $27,305,000 after buying an additional 94,316 shares in the last quarter. EP Wealth Advisors Inc. boosted its stake in U.S. Bancorp by 72.5% in the first quarter. EP Wealth Advisors Inc. now owns 14,892 shares of the financial services provider’s stock valued at $604,000 after buying an additional 6,260 shares in the last quarter. Finally, Eachwin Capital LP purchased a new stake in U.S. Bancorp during the first quarter valued at about $453,000. Institutional investors own 72.93% of the company’s stock.
U.S. Bancorp Company Profile
U.S. Bancorp is a multi-state financial services holding company. The Company’s banking subsidiary, U.S. Bank National Association, is engaged in the general banking business in domestic markets. It provides a range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services.
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