U.S. Bancorp (USB) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of U.S. Bancorp (NYSE:USB) from a sell rating to a hold rating in a research note released on Monday.

According to Zacks, “Shares of U.S. Bancorp have underperformed the industry year to date. However, the company boasts an impressive earnings surprise history. The company has surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. We believe the company’s prospects will likely get support from its solid business model, core franchise and diverse revenue streams. However, escalating expenses and litigations remain key concerns. Also, stretched valuation indicates limited upside potential.”

Other analysts have also issued reports about the stock. Jefferies Group LLC reaffirmed a buy rating and issued a $59.00 price objective on shares of U.S. Bancorp in a research note on Friday, August 11th. Argus raised shares of U.S. Bancorp from a hold rating to a buy rating and set a $57.00 price objective for the company in a research note on Thursday, July 20th. BidaskClub raised shares of U.S. Bancorp from a hold rating to a buy rating in a research note on Thursday, July 6th. Robert W. Baird reaffirmed a hold rating and issued a $48.00 price objective on shares of U.S. Bancorp in a research note on Friday. Finally, Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of U.S. Bancorp in a research note on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company’s stock. U.S. Bancorp currently has a consensus rating of Hold and a consensus target price of $53.38.

U.S. Bancorp (NYSE:USB) opened at 53.85 on Monday. The stock has a market capitalization of $90.08 billion, a PE ratio of 16.27 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 company’s 50-day moving average is $52.39 and its 200-day moving average is $52.00.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.01. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. The company had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.46 billion. During the same period in the prior year, the firm earned $0.82 earnings per share. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. Equities research analysts forecast that U.S. Bancorp will post $3.42 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: “U.S. Bancorp (USB) Upgraded to “Hold” at Zacks Investment Research” was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this article on another site, it was illegally stolen and reposted in violation of US & international copyright laws. The legal version of this article can be viewed at https://ledgergazette.com/2017/10/10/u-s-bancorp-usb-upgraded-to-hold-at-zacks-investment-research.html.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be given a $0.30 dividend. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Thursday, September 28th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 36.04%.

U.S. Bancorp declared that its Board of Directors has approved a stock buyback plan on Wednesday, June 28th that authorizes the company to repurchase $2.60 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of U.S. Bancorp by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 105,568,014 shares of the financial services provider’s stock valued at $5,481,092,000 after purchasing an additional 1,727,498 shares during the last quarter. State Street Corp raised its position in shares of U.S. Bancorp by 1.2% in the 1st quarter. State Street Corp now owns 75,509,050 shares of the financial services provider’s stock valued at $3,888,995,000 after purchasing an additional 903,504 shares during the last quarter. New England Asset Management Inc. raised its position in shares of U.S. Bancorp by 52.5% in the 1st quarter. New England Asset Management Inc. now owns 26,571,846 shares of the financial services provider’s stock valued at $1,368,451,000 after purchasing an additional 9,150,126 shares during the last quarter. Franklin Resources Inc. raised its position in shares of U.S. Bancorp by 0.7% in the 2nd quarter. Franklin Resources Inc. now owns 16,019,884 shares of the financial services provider’s stock valued at $831,753,000 after purchasing an additional 110,571 shares during the last quarter. Finally, US Bancorp DE raised its position in shares of U.S. Bancorp by 1.9% in the 2nd quarter. US Bancorp DE now owns 14,157,826 shares of the financial services provider’s stock valued at $735,074,000 after purchasing an additional 259,093 shares during the last quarter. 73.97% of the stock is owned by hedge funds and other institutional investors.

About U.S. Bancorp

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

According to Zacks, “Shares of U.S. Bancorp have underperformed the industry year to date. However, the company boasts an impressive earnings surprise history. The company has surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. We believe the company’s prospects will likely get support from its solid business model, core franchise and diverse revenue streams. However, escalating expenses and litigations remain key concerns. Also, stretched valuation indicates limited upside potential.”

Other analysts have also issued reports about the stock. Jefferies Group LLC reaffirmed a buy rating and issued a $59.00 price objective on shares of U.S. Bancorp in a research note on Friday, August 11th. Argus raised shares of U.S. Bancorp from a hold rating to a buy rating and set a $57.00 price objective for the company in a research note on Thursday, July 20th. BidaskClub raised shares of U.S. Bancorp from a hold rating to a buy rating in a research note on Thursday, July 6th. Robert W. Baird reaffirmed a hold rating and issued a $48.00 price objective on shares of U.S. Bancorp in a research note on Friday. Finally, Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of U.S. Bancorp in a research note on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company’s stock. U.S. Bancorp currently has a consensus rating of Hold and a consensus target price of $53.38.

U.S. Bancorp (NYSE:USB) opened at 53.85 on Monday. The stock has a market capitalization of $90.08 billion, a PE ratio of 16.27 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 company’s 50-day moving average is $52.39 and its 200-day moving average is $52.00.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.01. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. The company had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.46 billion. During the same period in the prior year, the firm earned $0.82 earnings per share. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. Equities research analysts forecast that U.S. Bancorp will post $3.42 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: “U.S. Bancorp (USB) Upgraded to “Hold” at Zacks Investment Research” was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this article on another site, it was illegally stolen and reposted in violation of US & international copyright laws. The legal version of this article can be viewed at https://ledgergazette.com/2017/10/10/u-s-bancorp-usb-upgraded-to-hold-at-zacks-investment-research.html.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be given a $0.30 dividend. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Thursday, September 28th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 36.04%.

U.S. Bancorp declared that its Board of Directors has approved a stock buyback plan on Wednesday, June 28th that authorizes the company to repurchase $2.60 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of U.S. Bancorp by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 105,568,014 shares of the financial services provider’s stock valued at $5,481,092,000 after purchasing an additional 1,727,498 shares during the last quarter. State Street Corp raised its position in shares of U.S. Bancorp by 1.2% in the 1st quarter. State Street Corp now owns 75,509,050 shares of the financial services provider’s stock valued at $3,888,995,000 after purchasing an additional 903,504 shares during the last quarter. New England Asset Management Inc. raised its position in shares of U.S. Bancorp by 52.5% in the 1st quarter. New England Asset Management Inc. now owns 26,571,846 shares of the financial services provider’s stock valued at $1,368,451,000 after purchasing an additional 9,150,126 shares during the last quarter. Franklin Resources Inc. raised its position in shares of U.S. Bancorp by 0.7% in the 2nd quarter. Franklin Resources Inc. now owns 16,019,884 shares of the financial services provider’s stock valued at $831,753,000 after purchasing an additional 110,571 shares during the last quarter. Finally, US Bancorp DE raised its position in shares of U.S. Bancorp by 1.9% in the 2nd quarter. US Bancorp DE now owns 14,157,826 shares of the financial services provider’s stock valued at $735,074,000 after purchasing an additional 259,093 shares during the last quarter. 73.97% of the stock is owned by hedge funds and other institutional investors.

About U.S. Bancorp

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.

Analyst Recommendations for U.S. Bancorp (NYSE:USB)

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