U.S. Bancorp (NYSE:USB) Downgraded by StockNews.com to Sell

StockNews.com cut shares of U.S. Bancorp (NYSE:USB) from a hold rating to a sell rating in a research report report published on Wednesday morning.

Several other analysts have also recently issued reports on USB. HSBC raised shares of U.S. Bancorp from a hold rating to a buy rating and upped their price objective for the company from $47.00 to $53.00 in a research note on Thursday, March 28th. Royal Bank of Canada reaffirmed an outperform rating and set a $47.00 price objective on shares of U.S. Bancorp in a research note on Thursday, May 16th. Evercore ISI upped their price objective on shares of U.S. Bancorp from $45.00 to $48.00 and gave the company an in-line rating in a research note on Tuesday, June 25th. Keefe, Bruyette & Woods reaffirmed a market perform rating and set a $45.00 price objective (down previously from $52.00) on shares of U.S. Bancorp in a research note on Thursday, April 18th. Finally, JPMorgan Chase & Co. cut shares of U.S. Bancorp from an overweight rating to a neutral rating and set a $43.50 price target for the company. in a research note on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $45.84.

U.S. Bancorp Stock Down 1.1 %

USB stock opened at $39.53 on Wednesday. The stock has a market capitalization of $61.68 billion, a P/E ratio of 13.09, a P/E/G ratio of 3.82 and a beta of 1.04. The firm has a 50-day simple moving average of $40.30 and a 200-day simple moving average of $41.62. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $45.85.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The business had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the previous year, the company earned $1.16 earnings per share. The company’s quarterly revenue was down 6.4% on a year-over-year basis. Equities analysts forecast that U.S. Bancorp will post 3.84 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.96 dividend on an annualized basis and a yield of 4.96%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.

Institutional Investors Weigh In On U.S. Bancorp

A number of hedge funds have recently added to or reduced their stakes in USB. Norges Bank acquired a new stake in U.S. Bancorp during the 4th quarter worth approximately $827,370,000. Vanguard Group Inc. lifted its position in shares of U.S. Bancorp by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider’s stock worth $4,513,127,000 after purchasing an additional 6,479,642 shares during the last quarter. Boston Partners purchased a new stake in shares of U.S. Bancorp during the 4th quarter worth $154,517,000. Charles Schwab Investment Management Inc. lifted its position in shares of U.S. Bancorp by 8.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,719,110 shares of the financial services provider’s stock worth $1,459,363,000 after purchasing an additional 2,598,163 shares during the last quarter. Finally, Confluence Investment Management LLC purchased a new stake in shares of U.S. Bancorp during the 1st quarter worth $92,192,000. 77.60% of the stock is currently 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.