U.S. Bancorp (NYSE:USB) Upgraded at Raymond James

U.S. Bancorp (NYSE:USB) was upgraded by analysts at Raymond James from a “market perform” rating to an “outperform” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. The firm presently has a $57.00 price target on the financial services provider’s stock. Raymond James’ price objective points to a potential upside of 19.72% from the company’s current price.

A number of other research firms have also weighed in on USB. Oppenheimer raised their price objective on shares of U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a report on Thursday, October 17th. Wells Fargo & Company lifted their price target on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Citigroup upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their target price for the stock from $49.00 to $65.00 in a research note on Monday, November 25th. Finally, Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $54.00 to $57.00 in a research note on Monday, September 30th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $53.68.

U.S. Bancorp Trading Down 4.7 %

USB opened at $47.61 on Thursday. The company has a market cap of $74.27 billion, a P/E ratio of 14.56, a price-to-earnings-growth ratio of 3.03 and a beta of 1.03. The company has a fifty day moving average price of $50.09 and a two-hundred day moving average price of $45.43. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98.

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

U.S. Bancorp announced that its board has approved a share buyback plan on Thursday, September 12th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $49.03, for a total value of $1,225,750.00. Following the completion of the transaction, the insider now owns 129,790 shares in the company, valued at $6,363,603.70. This trade represents a 16.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.23% of the stock is currently owned by company insiders.

Institutional Trading of U.S. Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Redwood Wealth Management Group LLC bought a new stake in shares of U.S. Bancorp in the second quarter worth $25,000. Frazier Financial Advisors LLC grew its stake in shares of U.S. Bancorp by 222.7% during the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 441 shares during the period. 1620 Investment Advisors Inc. purchased a new position in shares of U.S. Bancorp in the second quarter worth approximately $30,000. Y.D. More Investments Ltd bought a new stake in U.S. Bancorp during the second quarter valued at approximately $33,000. Finally, Legacy Investment Solutions LLC bought a new position in U.S. Bancorp in the third quarter worth approximately $40,000. 77.60% of the stock is currently owned by institutional investors.

About U.S. Bancorp

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.