U.S. Bancorp (USB) Receives Neutral Rating from Citigroup Inc.

Citigroup Inc. restated their neutral rating on shares of U.S. Bancorp (NYSE:USB) in a report published on Monday morning. The firm currently has a $58.00 target price on the financial services provider’s stock, up from their prior target price of $53.00.

Several other equities analysts also recently weighed in on USB. BidaskClub raised U.S. Bancorp from a hold rating to a buy rating in a research report on Thursday, July 6th. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of U.S. Bancorp in a research 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 report on Thursday, July 20th. Wells Fargo & Company initiated coverage on U.S. Bancorp in a research report 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 report on Friday, August 11th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the stock. U.S. Bancorp has an average rating of Hold and a consensus price target of $53.56.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.01. The company had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.46 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. U.S. Bancorp’s revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.82 EPS.

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U.S. Bancorp declared that its Board of Directors has approved a share buyback program on Wednesday, June 28th that authorizes the company to buyback $2.60 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, September 28th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.22%. U.S. Bancorp’s payout ratio is currently 36.04%.

Several institutional investors have recently made changes to their positions in USB. Stelac Advisory Services LLC acquired a new position in shares of U.S. Bancorp during the second quarter worth about $103,000. Phocas Financial Corp. acquired a new position in shares of U.S. Bancorp during the second quarter worth about $109,000. SRS Capital Advisors Inc. grew its position 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 worth $131,000 after buying an additional 371 shares in the last quarter. Orrstown Financial Services Inc. grew its position 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 worth $152,000 after buying an additional 681 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC acquired a new position in shares of U.S. Bancorp during the first quarter worth about $155,000. 73.97% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for U.S. Bancorp (NYSE:USB)

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