U.S. Bancorp (NYSE:USB) Stock Rating Upgraded by DA Davidson

U.S. Bancorp (NYSE:USB) was upgraded by equities research analysts at DA Davidson from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday, MarketBeat reports. The brokerage currently has a $60.00 price objective on the financial services provider’s stock, up from their previous price objective of $58.00. DA Davidson’s price target would suggest a potential upside of 22.80% from the company’s previous close.

USB has been the topic of a number of other reports. Stephens upped their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Evercore ISI raised their price objective on shares of U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a research note on Thursday, October 24th. Raymond James upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a research note on Thursday, December 19th. Finally, Compass Point upped their price objective on U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $53.88.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $48.86 on Thursday. The stock has a market capitalization of $76.22 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 3.03 and a beta of 1.03. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The business has a 50-day moving average of $50.17 and a 200 day moving average of $46.09. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The firm had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter in the previous year, the business posted $1.05 earnings per share. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. As a group, sell-side analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp announced that its Board of Directors has approved a stock buyback program on Thursday, September 12th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the transaction, the insider now owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On U.S. Bancorp

A number of institutional investors have recently bought and sold shares of USB. Global Wealth Strategies & Associates lifted its stake in shares of U.S. Bancorp by 70.8% in the 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 250 shares in the last quarter. Redwood Wealth Management Group LLC acquired a new position in U.S. Bancorp during the second quarter valued at approximately $25,000. Frazier Financial Advisors LLC lifted its position in U.S. Bancorp by 222.7% during the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after buying an additional 441 shares in the last quarter. Y.D. More Investments Ltd purchased a new stake in U.S. Bancorp during the second quarter worth approximately $33,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of U.S. Bancorp in the third quarter worth $40,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Company Profile

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.