U.S. Bancorp (NYSE:USB)‘s stock had its “buy” rating reiterated by equities research analysts at Jefferies Group LLC in a research report issued on Thursday. They presently have a $62.00 price objective on the financial services provider’s stock. Jefferies Group LLC’s target price suggests a potential upside of 14.26% from the stock’s previous close. Jefferies Group also issued estimates for U.S. Bancorp’s Q4 2017 earnings at $0.89 EPS, Q1 2018 earnings at $0.87 EPS, Q2 2018 earnings at $0.92 EPS, Q3 2018 earnings at $0.95 EPS, Q4 2018 earnings at $0.95 EPS, FY2018 earnings at $3.70 EPS and FY2019 earnings at $3.90 EPS.
USB has been the topic of several other research reports. BidaskClub downgraded shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. Zacks Investment Research downgraded shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Robert W. Baird reaffirmed a “hold” rating and issued a $48.00 target price on shares of U.S. Bancorp in a report on Tuesday, September 5th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $58.00 target price (up previously from $53.00) on shares of U.S. Bancorp in a report on Monday. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of U.S. Bancorp in a report on Wednesday, July 19th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company. U.S. Bancorp has an average rating of “Hold” and a consensus price target of $53.56.
U.S. Bancorp (NYSE USB) opened at 54.26 on Thursday. The firm has a market cap of $90.76 billion, a P/E ratio of 16.39 and a beta of 0.87. U.S. Bancorp has a 12 month low of $42.37 and a 12 month high of $56.61. The firm has a 50 day moving average of $52.53 and a 200-day moving average of $52.03.
U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.01. The business had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.46 billion. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.82 earnings per share. On average, equities research analysts forecast that U.S. Bancorp will post $3.42 earnings per share for the current year.
U.S. Bancorp declared that its Board of Directors has initiated a share repurchase program on Wednesday, June 28th that allows the company to buyback $2.60 billion in shares. This buyback authorization allows the financial services provider to buy up to 3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
A number of institutional investors and hedge funds have recently made changes to their positions in USB. Stelac Advisory Services LLC acquired a new position in U.S. Bancorp during the second quarter worth about $103,000. Phocas Financial Corp. acquired a new position in U.S. Bancorp during the second quarter worth about $109,000. SRS Capital Advisors Inc. raised its position in U.S. Bancorp by 17.0% during the first quarter. SRS Capital Advisors Inc. now owns 2,547 shares of the financial services provider’s stock worth $131,000 after acquiring an additional 371 shares during the last quarter. Orrstown Financial Services Inc. raised its position in U.S. Bancorp by 30.4% during the second quarter. Orrstown Financial Services Inc. now owns 2,921 shares of the financial services provider’s stock worth $152,000 after acquiring an additional 681 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC acquired a new position in U.S. Bancorp during the first quarter worth about $155,000. Institutional investors own 73.97% of the company’s stock.
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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