U.S. Bancorp (NYSE:USB) Reaches New 1-Year Low at $47.45 – Defense World

U.S. Bancorp (NYSE:USB – Get Rating) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $47.45 and last traded at $47.48, with a volume of 115755 shares traded. The stock had previously closed at $48.72.

Several research firms recently issued reports on USB. Morgan Stanley cut their price target on shares of U.S. Bancorp from $70.00 to $66.00 and set an “equal weight” rating on the stock in a report on Monday, March 28th. Oppenheimer increased their price target on shares of U.S. Bancorp from $67.00 to $72.00 in a research report on Tuesday, May 3rd. Jefferies Financial Group downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $66.00 to $64.00 in a report on Monday, February 14th. Wolfe Research reduced their target price on U.S. Bancorp from $62.00 to $54.00 and set an “outperform” rating for the company in a research report on Thursday, May 26th. Finally, Bank of America lifted their price objective on U.S. Bancorp from $54.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, April 18th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, U.S. Bancorp has an average rating of “Hold” and a consensus price target of $62.77.

The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $70.20 billion, a P/E ratio of 10.50, a P/E/G ratio of 1.69 and a beta of 0.98. The firm has a 50-day moving average of $50.91 and a two-hundred day moving average of $55.02.

U.S. Bancorp (NYSE:USB – Get Rating) last released its earnings results on Thursday, April 14th. The financial services provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.93 by $0.06. U.S. Bancorp had a return on equity of 15.24% and a net margin of 30.41%. The business had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.55 billion. During the same quarter last year, the firm posted $1.45 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. On average, sell-side analysts anticipate that U.S. Bancorp will post 4.43 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 15th. Investors of record on Thursday, March 31st were issued a dividend of $0.46 per share. The ex-dividend date of this dividend was Wednesday, March 30th. This represents a $1.84 dividend on an annualized basis and a yield of 3.89%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 39.66%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of U.S. Bancorp during the 4th quarter worth approximately $768,650,000. Magellan Asset Management Ltd raised its holdings in U.S. Bancorp by 8,676.4% in the 1st quarter. Magellan Asset Management Ltd now owns 12,904,961 shares of the financial services provider’s stock worth $685,899,000 after purchasing an additional 12,757,920 shares during the period. First Trust Advisors LP raised its holdings in U.S. Bancorp by 237.2% in the 1st quarter. First Trust Advisors LP now owns 5,112,295 shares of the financial services provider’s stock worth $271,718,000 after purchasing an additional 3,596,021 shares during the period. Invesco Ltd. raised its holdings in U.S. Bancorp by 50.2% in the 1st quarter. Invesco Ltd. now owns 9,856,817 shares of the financial services provider’s stock worth $523,890,000 after purchasing an additional 3,295,524 shares during the period. Finally, Vanguard Group Inc. raised its holdings in U.S. Bancorp by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 111,805,389 shares of the financial services provider’s stock worth $5,942,456,000 after purchasing an additional 2,618,810 shares during the period. Institutional investors own 74.92% of the company’s stock.

About U.S. Bancorp (NYSE:USB)

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities and other financial institutions in the United States. It operates in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.

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Source: defenseworld.net