Nomura Trims U.S. Bancorp (USB) Target Price to $54.00

U.S. Bancorp (NYSE:USB) had its price target decreased by Nomura from $60.00 to $54.00 in a research note issued to investors on Thursday. Nomura currently has a neutral rating on the financial services provider’s stock.

A number of other analysts have also recently issued reports on USB. ValuEngine cut shares of U.S. Bancorp from a hold rating to a sell rating in a research note on Tuesday. Zacks Investment Research upgraded shares of U.S. Bancorp from a hold rating to a buy rating and set a $60.00 target price for the company in a research note on Friday, October 12th. Oppenheimer upgraded shares of U.S. Bancorp from a market perform rating to an outperform rating and set a $62.00 target price for the company in a research note on Thursday. Wedbush restated a neutral rating on shares of U.S. Bancorp in a research note on Monday, July 23rd. Finally, Macquarie upgraded shares of U.S. Bancorp from a neutral rating to an outperform rating and raised their target price for the stock from $56.00 to $62.00 in a research note on Wednesday, October 10th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. U.S. Bancorp currently has a consensus rating of Hold and an average price target of $59.58.

Shares of NYSE USB traded up $0.41 during mid-day trading on Thursday, reaching $52.54. 540,252 shares of the company were exchanged, compared to its average volume of 7,585,397. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.82 and a current ratio of 0.85. The stock has a market cap of $86.18 billion, a PE ratio of 15.36, a P/E/G ratio of 1.73 and a beta of 0.98. U.S. Bancorp has a twelve month low of $48.49 and a twelve month high of $58.50.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, October 17th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.02. The company had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.68 billion. U.S. Bancorp had a net margin of 27.53% and a return on equity of 15.14%. U.S. Bancorp’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.88 EPS. As a group, analysts predict that U.S. Bancorp will post 4.08 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were paid a $0.37 dividend. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, September 27th. This represents a $1.48 annualized dividend and a yield of 2.82%. U.S. Bancorp’s payout ratio is 43.27%.

In other U.S. Bancorp news, Vice Chairman John R. Elmore sold 58,924 shares of U.S. Bancorp stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $51.71, for a total value of $3,046,960.04. Following the completion of the sale, the insider now owns 98,371 shares in the company, valued at approximately $5,086,764.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.43% of the stock is owned by insiders.

Several large investors have recently modified their holdings of USB. Bank of Montreal Can acquired a new position in shares of U.S. Bancorp in the 2nd quarter valued at approximately $131,487,000. Bank of New York Mellon Corp raised its position in shares of U.S. Bancorp by 15.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 15,867,860 shares of the financial services provider’s stock valued at $793,710,000 after buying an additional 2,071,326 shares in the last quarter. BTIM Corp. acquired a new position in shares of U.S. Bancorp in the 2nd quarter valued at approximately $78,408,000. Chevy Chase Trust Holdings Inc. acquired a new position in shares of U.S. Bancorp in the 2nd quarter valued at approximately $72,386,000. Finally, Cornerstone Wealth Management LLC raised its position in shares of U.S. Bancorp by 5,122.1% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,133,620 shares of the financial services provider’s stock valued at $22,487,000 after buying an additional 1,111,912 shares in the last quarter. Institutional investors own 74.41% of the company’s stock.

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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