U.S. Bancorp (NYSE:USB – Get Rating) had its price target cut by equities research analysts at Wells Fargo & Company from $70.00 to $60.00 in a research report issued on Friday, Marketbeat.com reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 28.78% from the company’s previous close.
USB has been the subject of a number of other reports. Royal Bank of Canada decreased their price objective on U.S. Bancorp from $66.00 to $60.00 and set an “outperform” rating for the company in a research note on Friday. UBS Group cut U.S. Bancorp from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $64.00 to $56.00 in a research note on Friday, April 8th. Bank of America lifted their price objective on U.S. Bancorp from $54.00 to $56.00 and gave the stock a “neutral” rating in a research note on Monday, April 18th. Wolfe Research decreased their target price on U.S. Bancorp from $62.00 to $54.00 and set an “outperform” rating for the company in a research note on Thursday, May 26th. Finally, Morgan Stanley decreased their target price on U.S. Bancorp from $70.00 to $66.00 and set an “equal weight” rating for the company in a research note on Monday, March 28th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $62.14.
Shares of USB opened at $46.59 on Friday. The company has a market cap of $69.22 billion, a price-to-earnings ratio of 10.04, a PEG ratio of 1.65 and a beta of 0.98. U.S. Bancorp has a 52-week low of $44.79 and a 52-week high of $63.57. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.74 and a current ratio of 0.75. The stock has a fifty day moving average price of $49.11 and a two-hundred day moving average price of $53.92.
U.S. Bancorp (NYSE:USB – Get Rating) last released its earnings results on Thursday, April 14th. The financial services provider reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.06. The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.55 billion. U.S. Bancorp had a return on equity of 15.24% and a net margin of 30.41%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.45 earnings per share. As a group, research analysts predict that U.S. Bancorp will post 4.43 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in USB. Wellington Management Group LLP bought a new stake in U.S. Bancorp during the third quarter worth about $7,314,000. Dixon Hubard Feinour & Brown Inc. VA bought a new stake in U.S. Bancorp in the fourth quarter valued at approximately $410,000. Harbor Investment Advisory LLC raised its stake in U.S. Bancorp by 114.5% in the fourth quarter. Harbor Investment Advisory LLC now owns 3,372 shares of the financial services provider’s stock valued at $189,000 after buying an additional 1,800 shares during the period. Capital Investment Advisors LLC increased its stake in shares of U.S. Bancorp by 3.6% during the fourth quarter. Capital Investment Advisors LLC now owns 6,769 shares of the financial services provider’s stock worth $380,000 after purchasing an additional 235 shares during the period. Finally, Brookstone Capital Management increased its stake in shares of U.S. Bancorp by 10.2% during the fourth quarter. Brookstone Capital Management now owns 6,814 shares of the financial services provider’s stock worth $416,000 after purchasing an additional 631 shares during the period. Institutional investors and hedge funds own 74.92% of the company’s stock.
About U.S. Bancorp (Get Rating)
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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