Investors sold shares of U.S. Bancorp (NYSE:USB) on strength during trading on Tuesday. $62.39 million flowed into the stock on the tick-up and $191.02 million flowed out of the stock on the tick-down, for a money net flow of $128.63 million out of the stock. Of all companies tracked, U.S. Bancorp had the 0th highest net out-flow for the day. U.S. Bancorp traded up $0.17 for the day and closed at $52.95
Several research firms have recently commented on USB. Wells Fargo & Company started coverage on U.S. Bancorp in a report on Wednesday, August 9th. They set a “market perform” rating and a $56.00 price target on the stock. Jefferies Group LLC reiterated a “buy” rating and set a $59.00 price target on shares of U.S. Bancorp in a research note on Friday, June 9th. BidaskClub downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Argus raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Thursday, July 20th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of U.S. Bancorp in a report on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. U.S. Bancorp currently has an average rating of “Hold” and a consensus price target of $52.85.
The company’s 50 day moving average price is $52.47 and its 200-day moving average price is $52.54. The company has a market cap of $86.45 billion, a price-to-earnings ratio of 15.61 and a beta of 0.86.
U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, July 19th. The financial services provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. The firm had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. The business’s quarterly revenue was up .7% compared to the same quarter last year. On average, equities research analysts expect that U.S. Bancorp will post $3.44 EPS for the current year.
U.S. Bancorp announced that its board has initiated a stock repurchase program on Wednesday, June 28th that authorizes the company to buyback $2.60 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.
Several hedge funds have recently added to or reduced their stakes in USB. WFG Advisors LP boosted its position in U.S. Bancorp by 175.8% in the second quarter. WFG Advisors LP now owns 14,320 shares of the financial services provider’s stock valued at $743,000 after buying an additional 9,128 shares in the last quarter. Advisory Services Network LLC boosted its position in U.S. Bancorp by 6.7% in the second quarter. Advisory Services Network LLC now owns 29,595 shares of the financial services provider’s stock valued at $1,537,000 after buying an additional 1,866 shares in the last quarter. Wasatch Advisors Inc. boosted its position in U.S. Bancorp by 54.2% in the second quarter. Wasatch Advisors Inc. now owns 87,535 shares of the financial services provider’s stock valued at $4,545,000 after buying an additional 30,755 shares in the last quarter. Gofen & Glossberg LLC IL boosted its position in U.S. Bancorp by 1.2% in the second quarter. Gofen & Glossberg LLC IL now owns 109,282 shares of the financial services provider’s stock valued at $5,674,000 after buying an additional 1,315 shares in the last quarter. Finally, Colony Group LLC acquired a new position in U.S. Bancorp during the second quarter valued at $352,000. Institutional investors own 76.25% of the company’s stock.
About U.S. Bancorp
U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.
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