U.S. Bancorp (USB) Price Target Cut to $50.00
U.S. Bancorp (NYSE:USB) had its price target dropped by investment analysts at J P Morgan Chase & Co from $55.50 to $50.00 in a report released on Wednesday. The firm presently has a “neutral” rating on the financial services provider’s stock. J P Morgan Chase & Co’s price target points to a potential downside of 8.89% from the stock’s current price.
Several other research analysts have also commented on USB. BidaskClub raised U.S. Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of U.S. Bancorp in a report on Wednesday, July 19th. Argus raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Thursday, July 20th. Wells Fargo & Company initiated coverage on U.S. Bancorp in a research note on Wednesday, August 9th. They issued a “market perform” rating and a $56.00 target price for the company. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $59.00 target price on shares of U.S. Bancorp in a research note on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $53.82.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.88 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.88. U.S. Bancorp had a return on equity of 13.91% and a net margin of 25.46%. The company had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.60 billion. During the same quarter in the previous year, the firm earned $0.84 earnings per share. U.S. Bancorp’s revenue was up 4.1% on a year-over-year basis.
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Hedge funds have recently made changes to their positions in the business. Stelac Advisory Services LLC bought a new position in shares of U.S. Bancorp during the second quarter valued at approximately $103,000. Phocas Financial Corp. bought a new position in shares of U.S. Bancorp during the second quarter valued at approximately $109,000. SRS Capital Advisors Inc. raised its holdings in shares of U.S. Bancorp by 17.0% during the first quarter. SRS Capital Advisors Inc. now owns 2,547 shares of the financial services provider’s stock valued at $131,000 after acquiring an additional 371 shares in the last quarter. Orrstown Financial Services Inc. raised its holdings in shares of U.S. Bancorp by 30.4% during the second quarter. Orrstown Financial Services Inc. now owns 2,921 shares of the financial services provider’s stock valued at $152,000 after acquiring an additional 681 shares in the last quarter. Finally, Pathstone Family Office LLC raised its holdings in shares of U.S. Bancorp by 13.2% during the second quarter. Pathstone Family Office LLC now owns 3,317 shares of the financial services provider’s stock valued at $172,000 after acquiring an additional 386 shares in the last quarter. Hedge funds and other institutional investors own 74.20% of the company’s stock.
U.S. Bancorp Company Profile
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.
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