U.S. Bancorp (NYSE:USB) Downgraded by Deutsche Bank Aktiengesellschaft

U.S. Bancorp (NYSE:USB) was downgraded by investment analysts at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a report issued on Thursday, Marketbeat Ratings reports. They presently have a $51.00 price target on the financial services provider’s stock. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 5.09% from the company’s previous close.

Several other analysts have also recently issued reports on USB. StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. lowered shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price on the stock. in a report on Thursday, June 27th. Stephens raised their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Evercore ISI upped their price objective on U.S. Bancorp from $49.00 to $51.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. Finally, Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $54.00 to $57.00 in a report on Monday, September 30th. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Hold” and an average target price of $50.72.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock opened at $48.53 on Thursday. The stock has a market capitalization of $75.73 billion, a P/E ratio of 16.07, a PEG ratio of 3.32 and a beta of 1.03. The business has a 50 day simple moving average of $45.61 and a two-hundred day simple moving average of $42.77. U.S. Bancorp has a 12 month low of $30.47 and a 12 month high of $50.47. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. The business had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The business’s revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.05 earnings per share. As a group, analysts predict that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

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

Insider Buying and Selling

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the transaction, the insider now directly owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.23% of the company’s stock.

Institutional Trading of U.S. Bancorp

Hedge funds have recently modified their holdings of the business. Redwood Wealth Management Group LLC acquired a new stake in U.S. Bancorp in the second quarter valued at $25,000. 1620 Investment Advisors Inc. acquired a new stake in shares of U.S. Bancorp in the second quarter valued at about $30,000. Eagle Bay Advisors LLC boosted its holdings in U.S. Bancorp by 93.2% during the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock worth $31,000 after buying an additional 331 shares in the last quarter. LRI Investments LLC acquired a new position in U.S. Bancorp during the first quarter worth about $31,000. Finally, Y.D. More Investments Ltd purchased a new position in U.S. Bancorp in the second quarter valued at about $33,000. 77.60% of the stock is owned by institutional investors and hedge funds.

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.