U.S. Bancorp (NYSE:USB) Raised to “Buy” at Citigroup

U.S. Bancorp (NYSE:USB) was upgraded by equities researchers at Citigroup from a “neutral” rating to a “buy” rating in a report issued on Monday,Briefing.com Automated Import reports. The brokerage presently has a $65.00 price target on the financial services provider’s stock, up from their prior price target of $49.00. Citigroup’s price target indicates a potential upside of 23.83% from the stock’s current price.

Other research analysts have also issued research reports about the company. Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Wells Fargo & Company boosted their price target on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Stephens increased their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada set a $53.00 target price on U.S. Bancorp in a report on Thursday, October 17th. Finally, DA Davidson increased their price target on U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Twelve investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $52.02.

U.S. Bancorp Stock Up 2.1 %

USB stock opened at $52.49 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The firm’s 50-day simple moving average is $47.63 and its 200 day simple moving average is $44.06. The stock has a market cap of $81.89 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 3.10 and a beta of 1.02. U.S. Bancorp has a fifty-two week low of $36.49 and a fifty-two week high of $52.69.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The company had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter in the previous year, the company posted $1.05 earnings per share. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, sell-side analysts predict that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp declared that its Board of Directors has authorized a stock repurchase program on Thursday, September 12th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the completion of the sale, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. This represents a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.23% of the company’s stock.

Institutional Trading of U.S. Bancorp

Institutional investors have recently made changes to their positions in the business. Mount Yale Investment Advisors LLC lifted its position in shares of U.S. Bancorp by 9.1% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 8,489 shares of the financial services provider’s stock worth $379,000 after buying an additional 710 shares during the period. SVB Wealth LLC boosted its stake in shares of U.S. Bancorp by 5.9% in the 1st quarter. SVB Wealth LLC now owns 11,221 shares of the financial services provider’s stock valued at $502,000 after purchasing an additional 622 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of U.S. Bancorp by 6.4% in the 1st quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock worth $12,363,000 after purchasing an additional 16,686 shares during the last quarter. Dynasty Wealth Management LLC acquired a new stake in shares of U.S. Bancorp during the 1st quarter worth about $292,000. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in U.S. Bancorp by 17.1% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 56,020 shares of the financial services provider’s stock valued at $2,504,000 after purchasing an additional 8,176 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Company Profile

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 through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.