U.S. Bancorp (NYSE:USB) Raised to “Outperform” at Raymond James

U.S. Bancorp (NYSE:USB) was upgraded by equities researchers at Raymond James from a “market perform” rating to an “outperform” rating in a research note issued on Thursday, MarketBeat reports. The firm presently has a $57.00 price target on the financial services provider’s stock. Raymond James’ target price would suggest a potential upside of 18.95% from the stock’s current price.

A number of other brokerages have also recently commented on USB. Deutsche Bank Aktiengesellschaft downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a research note on Thursday, October 24th. DA Davidson increased their price objective on U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Compass Point boosted their target price on U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $54.00 to $57.00 in a report on Monday, September 30th. Finally, Wells Fargo & Company boosted their price objective on shares of U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $53.68.

U.S. Bancorp Stock Up 1.1 %

Shares of NYSE USB opened at $47.92 on Thursday. The stock has a market cap of $74.76 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 3.03 and a beta of 1.03. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98. The business has a 50-day moving average price of $50.18 and a 200 day moving average price of $45.50. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The business had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same period last year, the firm posted $1.05 earnings per share. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. Equities research analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current year.

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

Insider Activity

In related news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 129,790 shares in the company, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Natixis Advisors LLC increased its stake in U.S. Bancorp by 16.6% in the third quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock valued at $18,348,000 after purchasing an additional 56,990 shares during the last quarter. M&T Bank Corp increased its stake in shares of U.S. Bancorp by 2.8% during the 3rd quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock valued at $38,704,000 after acquiring an additional 22,803 shares during the last quarter. Hilltop Holdings Inc. increased its stake in shares of U.S. Bancorp by 184.3% during the 3rd quarter. Hilltop Holdings Inc. now owns 70,283 shares of the financial services provider’s stock valued at $3,214,000 after acquiring an additional 45,560 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of U.S. Bancorp by 544.1% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 13,894 shares of the financial services provider’s stock worth $635,000 after acquiring an additional 11,737 shares during the period. Finally, Summit Financial Wealth Advisors LLC purchased a new stake in U.S. Bancorp in the third quarter valued at approximately $4,505,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

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.