U.S. Bancorp (USB) Downgraded by Zacks Investment Research
According to Zacks, “U.S. Bancorp recently lowered its profit expectations, citing the persistent global turmoil and slow economic recovery. Apart from reducing ROE and ROA targets, the company also cut its net income growth projection. The revised targets signal that the current stressed operating environment is likely to continue for a longer period. The company’s bottom-line growth remains hindered by mounting expenses. Further, the company continues to face margin pressure amid the slow rise in interest rates. However, the company’s growth prospects should continue get support from its solid business model, core franchise and diverse revenue streams.”
Other analysts have also recently issued reports about the company. Nomura reiterated a buy rating on shares of U.S. Bancorp in a report on Saturday, July 9th. Barclays PLC reiterated a buy rating on shares of U.S. Bancorp in a report on Saturday, July 9th. Wells Fargo & Co. reiterated a buy rating on shares of U.S. Bancorp in a report on Saturday, July 9th. Drexel Hamilton reiterated a buy rating on shares of U.S. Bancorp in a report on Monday, July 18th. Finally, FBR & Co restated a buy rating on shares of U.S. Bancorp in a report on Monday, July 18th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of Hold and an average price target of $45.18.
U.S. Bancorp (NYSE:USB) opened at 43.26 on Monday. The company has a market capitalization of $74.04 billion, a PE ratio of 13.56 and a beta of 0.72. U.S. Bancorp has a 1-year low of $37.07 and a 1-year high of $44.58. The company has a 50 day moving average of $43.24 and a 200 day moving average of $41.83.
U.S. Bancorp (NYSE:USB) last announced its earnings results on Friday, July 15th. The financial services provider reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.03. U.S. Bancorp had a return on equity of 14.05% and a net margin of 26.56%. The business had revenue of $5.45 billion for the quarter. During the same quarter in the previous year, the company earned $0.80 earnings per share. The business’s revenue was up 8.1% on a year-over-year basis. On average, analysts predict that U.S. Bancorp will post $3.25 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be paid a $0.28 dividend. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Wednesday, September 28th. U.S. Bancorp’s payout ratio is 31.88%.
In other U.S. Bancorp news, Vice Chairman Gillern Jeffry H. Von sold 102,961 shares of U.S. Bancorp stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $42.00, for a total value of $4,324,362.00. Following the transaction, the insider now directly owns 178,422 shares of the company’s stock, valued at approximately $7,493,724. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Craig E. Gifford sold 2,500 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $41.87, for a total value of $104,675.00. Following the completion of the transaction, the executive vice president now directly owns 49,881 shares in the company, valued at $2,088,517.47. The disclosure for this sale can be found here. 0.68% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in the company. WFG Advisors LP boosted its position in shares of U.S. Bancorp by 0.3% in the second quarter. WFG Advisors LP now owns 4,886 shares of the financial services provider’s stock worth $197,000 after buying an additional 13 shares during the period. Hudock Capital Group LLC raised its stake in shares of U.S. Bancorp by 0.5% in the second quarter. Hudock Capital Group LLC now owns 3,734 shares of the financial services provider’s stock worth $150,000 after buying an additional 19 shares in the last quarter. Montecito Bank & Trust raised its stake in shares of U.S. Bancorp by 0.3% in the second quarter. Montecito Bank & Trust now owns 7,837 shares of the financial services provider’s stock worth $316,000 after buying an additional 25 shares in the last quarter. D. Scott Neal Inc. raised its stake in shares of U.S. Bancorp by 0.5% in the second quarter. D. Scott Neal Inc. now owns 7,590 shares of the financial services provider’s stock worth $306,000 after buying an additional 41 shares in the last quarter. Finally, Jag Capital Management LLC raised its stake in shares of U.S. Bancorp by 0.4% in the first quarter. Jag Capital Management LLC now owns 9,842 shares of the financial services provider’s stock worth $399,000 after buying an additional 42 shares in the last quarter. 72.58% of the stock is currently owned by institutional investors and hedge funds.
About U.S. Bancorp
U.S. Bancorp is a multi-state financial services holding company. The Company’s banking subsidiary, U.S. Bank National Association, is engaged in the general banking business in domestic markets. It provides a range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services.
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