Analysts’ Recent Ratings Updates for U.S. Bancorp (USB)

A number of research firms have changed their ratings and price targets for U.S. Bancorp (NYSE: USB):

  • 9/19/2016 – U.S. Bancorp was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “U.S. Bancorp recently lowered its profit expectations, citing the persistent global turmoil and slow economic recovery. Apart from reducing ROE and ROA targets, the company also cut its net income growth projection. The revised targets signal that the current stressed operating environment is likely to continue for a longer period. The company’s bottom-line growth remains hindered by mounting expenses. Further, the company continues to face margin pressure amid the slow rise in interest rates. However, the company’s growth prospects should continue get support from its solid business model, core franchise and diverse revenue streams.”
  • 9/19/2016 – U.S. Bancorp had its “overweight” rating reaffirmed by analysts at Piper Jaffray Cos.. They now have a $46.00 price target on the stock, down previously from $47.00.
  • 9/17/2016 – U.S. Bancorp had its “hold” rating reaffirmed by analysts at Oppenheimer Holdings Inc..
  • 9/16/2016 – U.S. Bancorp had its “buy” rating reaffirmed by analysts at Wells Fargo & Co.. They wrote, “We traveled with an expanded team of senior management in New York on Thursday, as the company was able to showcase the depth of the bench to investors. We continue to have confidence in FRC and feel it has limited risk and higher growth when compared to many other mid-cap banks. While we acknowledge the valuation is higher than the median, we believe the strength of the franchise, the demonstrated ability to manage credit risk, and the opportunity to continue to sustain higher asset growth levels supports our Outperform rating.  Sustained growth continues to drive the story. Since 2010, loans have grown at an 18% CAGR, and deposits at 19%. This high level of growth compounds, driving the increases in tangible book value (TBV) over time. We believe this growth is sustainable, due to the combination of relatively low market share and high customer loyalty. 55% of new loans are from existing customers, another 27% are direct referrals, and market share in their geographies among high net worth individuals is only 4%. This leaves a relatively small hurdle of 18% of new loans from new customer growth.””
  • 8/25/2016 – U.S. Bancorp was upgraded by analysts at Portales Partners from a “sector perform” rating to an “outperform” rating.
  • 8/10/2016 – U.S. Bancorp had its “hold” rating reaffirmed by analysts at Jefferies Group. They now have a $44.00 price target on the stock.

U.S. Bancorp (NYSE:USB) traded up 0.37% during mid-day trading on Thursday, reaching $43.42. 1,406,798 shares of the company’s stock traded hands. U.S. Bancorp has a 12 month low of $37.07 and a 12 month high of $44.58. The stock has a market cap of $74.31 billion, a P/E ratio of 13.61 and a beta of 0.72. The company has a 50 day moving average price of $43.24 and a 200-day moving average price of $41.83.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Friday, July 15th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.03. U.S. Bancorp had a net margin of 26.56% and a return on equity of 14.05%. The business earned $5.45 billion during the quarter. During the same period in the previous year, the business posted $0.80 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, analysts anticipate that U.S. Bancorp will post $3.25 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.59%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, September 28th. U.S. Bancorp’s payout ratio is presently 31.88%.

In other news, EVP Craig E. Gifford sold 2,500 shares of the company’s stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $41.87, for a total transaction of $104,675.00. Following the sale, the executive vice president now directly owns 49,881 shares in the company, valued at $2,088,517.47. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Vice Chairman Gillern Jeffry H. Von sold 102,961 shares of the company’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $42.00, for a total value of $4,324,362.00. Following the sale, the insider now owns 178,422 shares in the company, valued at $7,493,724. The disclosure for this sale can be found here. 0.68% of the stock is owned by corporate insiders.

U.S. Bancorp is a multi-state financial services holding company. The Company’s banking subsidiary, U.S. Bank National Association, is engaged in the general banking business in domestic markets. It provides a range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services.

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