U.S. Bancorp (USB) Downgraded to Hold at Standpoint Research

U.S. Bancorp (NYSE:USB) was downgraded by research analysts at Standpoint Research from a “buy” rating to a “hold” rating in a report released on Monday, The Fly reports. They currently have a $63.00 price objective on the financial services provider’s stock, up from their previous price objective of $54.16. Standpoint Research’s target price would indicate a potential upside of 16.32% from the stock’s current price. The analysts noted that the move was a valuation call.

Other research analysts have also recently issued reports about the company. ValuEngine cut U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. Zacks Investment Research cut U.S. Bancorp from a “buy” rating to a “hold” rating in a report on Monday. Deutsche Bank lowered U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Monday. Wedbush set a $58.00 target price on U.S. Bancorp and gave the company a “hold” rating in a research note on Thursday, October 18th. Finally, Macquarie upgraded U.S. Bancorp from a “neutral” rating to an “outperform” rating and raised their target price for the company from $56.00 to $62.00 in a research note on Wednesday, October 10th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the stock. U.S. Bancorp has a consensus rating of “Hold” and a consensus target price of $59.66.

Shares of NYSE USB traded up $0.64 during midday trading on Monday, reaching $54.16. 6,429,311 shares of the company traded hands, compared to its average volume of 7,018,151. The stock has a market cap of $86.49 billion, a PE ratio of 15.84, a PEG ratio of 1.74 and a beta of 0.91. U.S. Bancorp has a 12 month low of $48.49 and a 12 month high of $58.50. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.84 and a current ratio of 0.85.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, October 17th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.02. The company had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.68 billion. U.S. Bancorp had a return on equity of 15.14% and a net margin of 27.53%. The business’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the business earned $0.88 earnings per share. Analysts predict that U.S. Bancorp will post 4.1 earnings per share for the current year.

In related news, Vice Chairman Terrance R. Dolan sold 15,524 shares of U.S. Bancorp stock in a transaction dated Thursday, October 18th. The stock was sold at an average price of $52.91, for a total value of $821,374.84. Following the completion of the sale, the insider now directly owns 124,086 shares in the company, valued at $6,565,390.26. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Andrew Cecere sold 183,374 shares of U.S. Bancorp stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $52.95, for a total value of $9,709,653.30. Following the completion of the sale, the chairman now owns 892,517 shares of the company’s stock, valued at $47,258,775.15. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 253,073 shares of company stock valued at $13,383,882. 0.43% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its holdings in U.S. Bancorp by 15.0% during the second quarter. Bank of New York Mellon Corp now owns 15,867,860 shares of the financial services provider’s stock worth $793,710,000 after buying an additional 2,071,326 shares during the last quarter. Chevy Chase Trust Holdings Inc. bought a new position in U.S. Bancorp during the second quarter worth about $72,386,000. Morgan Stanley boosted its holdings in U.S. Bancorp by 32.7% during the third quarter. Morgan Stanley now owns 5,506,411 shares of the financial services provider’s stock worth $290,793,000 after buying an additional 1,358,026 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in U.S. Bancorp by 8.5% during the second quarter. Janus Henderson Group PLC now owns 12,146,468 shares of the financial services provider’s stock worth $607,565,000 after buying an additional 946,517 shares during the last quarter. Finally, FIL Ltd boosted its holdings in U.S. Bancorp by 14.2% during the third quarter. FIL Ltd now owns 7,543,687 shares of the financial services provider’s stock worth $398,382,000 after buying an additional 937,634 shares during the last quarter. Hedge funds and other institutional investors own 74.39% of the company’s stock.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

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

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