U.S. Bancorp (NYSE:USB) Upgraded by Zacks Investment Research to Buy

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U.S. Bancorp (NYSE:USB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday, September 18th. The brokerage presently has a $61.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price target points to a potential upside of 20.10% from the company’s previous close.

According to Zacks, “Shares of U.S. Bancorp have outperformed the industry over the past three months. The company possesses an impressive earnings surprise history, beating the Zacks Consensus Estimate in three out of the trailing four quarters.  U.S. Bancorp's prospects will likely get support from its solid business model, core franchise, lower tax rate, rising interest rate and diverse revenue streams. Also, its organic growth remains solid and will likely benefit from the improving economic scenario. However, escalating expenses due to its ongoing investments in technology remains a key concern. Also, involvement in legal hassles is likely to increase legal expenses and provisions in the near term. Nevertheless, U.S. Bancorp remains well poised to grow through acquisitions.”

Several other equities research analysts have also recently commented on USB. ValuEngine cut U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, May 22nd. Wedbush reissued a “neutral” rating on shares of U.S. Bancorp in a research note on Monday, July 23rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $59.72.

Shares of U.S. Bancorp stock traded down $1.03 during midday trading on Tuesday, hitting $50.79. 12,592,021 shares of the company were exchanged, compared to its average volume of 6,813,398. U.S. Bancorp has a 52 week low of $48.49 and a 52 week high of $58.50. The company has a market capitalization of $86.03 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 1.73 and a beta of 0.98. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.83 and a quick ratio of 0.82.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, July 18th. The financial services provider reported $1.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.01. The firm had revenue of $5.64 billion during the quarter, compared to analysts’ expectations of $5.64 billion. U.S. Bancorp had a return on equity of 14.66% and a net margin of 26.96%. The business’s revenue was up 3.5% on a year-over-year basis. During the same period last year, the firm posted $0.25 EPS. Equities analysts anticipate that U.S. Bancorp will post 4.07 earnings per share for the current fiscal year.

In related news, Vice Chairman John R. Elmore sold 58,924 shares of U.S. Bancorp stock in a transaction dated Monday, July 23rd. The stock was sold at an average price of $51.71, for a total value of $3,046,960.04. Following the sale, the insider now owns 98,371 shares of the company’s stock, valued at $5,086,764.41. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.43% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in U.S. Bancorp by 1.1% during the first quarter. BlackRock Inc. now owns 109,461,452 shares of the financial services provider’s stock worth $5,527,802,000 after buying an additional 1,191,374 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in U.S. Bancorp by 0.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 41,034,263 shares of the financial services provider’s stock worth $2,052,534,000 after buying an additional 124,650 shares during the last quarter. Bank of New York Mellon Corp increased its position 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. Janus Henderson Group PLC increased its position 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, American Century Companies Inc. increased its position in U.S. Bancorp by 1.9% during the second quarter. American Century Companies Inc. now owns 10,220,827 shares of the financial services provider’s stock worth $511,246,000 after buying an additional 186,828 shares during the last quarter. 74.29% of the stock is currently owned by institutional investors and hedge funds.

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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