Deutsche Bank Aktiengesellschaft Lowers U.S. Bancorp (NYSE:USB) to Hold

U.S. Bancorp (NYSE:USB) was downgraded by research analysts at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Marketbeat reports. They currently have a $51.00 target price on the financial services provider’s stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 6.83% from the company’s previous close.

USB has been the topic of a number of other research reports. JPMorgan Chase & Co. lowered shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective on the stock. in a research note on Thursday, June 27th. DA Davidson increased their price target on U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $54.00 to $57.00 in a report on Monday, September 30th. The Goldman Sachs Group lowered their target price on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Finally, Evercore ISI lifted their price target on U.S. Bancorp from $49.00 to $51.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, U.S. Bancorp has a consensus rating of “Hold” and a consensus target price of $50.72.

U.S. Bancorp Stock Performance

Shares of USB opened at $47.74 on Thursday. The stock has a 50-day moving average of $45.72 and a two-hundred day moving average of $42.81. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. The stock has a market cap of $74.50 billion, a P/E ratio of 15.81, a P/E/G ratio of 3.32 and a beta of 1.03. U.S. Bancorp has a one year low of $30.47 and a one year high of $50.47.

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

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

Insider Buying and Selling at U.S. Bancorp

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

Institutional Investors Weigh In On U.S. Bancorp

Hedge funds have recently modified their holdings of the business. Manning & Napier Advisors LLC acquired a new stake in U.S. Bancorp in the 2nd quarter valued at about $20,188,000. Mission Wealth Management LP increased its holdings in shares of U.S. Bancorp by 200.7% in the first quarter. Mission Wealth Management LP now owns 18,273 shares of the financial services provider’s stock valued at $817,000 after purchasing an additional 12,197 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of U.S. Bancorp by 6.4% in the first quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock valued at $12,363,000 after purchasing an additional 16,686 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in U.S. Bancorp by 90.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 862,317 shares of the financial services provider’s stock worth $36,676,000 after buying an additional 409,192 shares in the last quarter. Finally, Koshinski Asset Management Inc. acquired a new position in U.S. Bancorp during the first quarter worth $732,000. 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.