Economy

US Bancorp Q3 Profit Matches Estimates; Net Revenue Up 4.1% YoY

Phocas Financial Corp. acquired a new stake in shares of U.S. Bancorp in the second quarter worth approximately $109,000.

Several other hedge funds also recently modified their holdings of USB.

The Minneapolis-based parent of U.S. Bank said it had earnings of 88 cents per share.

U.S. Bancorp shares have risen almost 5 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 14 percent. Orrstown Financial Services Inc. now owns 2,921 shares of the financial services provider's stock worth $152,000 after acquiring an additional 681 shares during the last quarter. South Dakota Investment Council sold 123,898 shares as the company's stock declined 6.89% while stock markets rallied. First Eagle Investment Management LLC now owns 11,625,567 shares of the financial services provider's stock valued at $603,599,000 after purchasing an additional 118,063 shares in the last quarter. The legal version of this piece can be read at https://stocknewstimes.com/2017/10/18/zwj-investment-counsel-inc-sells-4078-shares-of-u-s-bancorp-usb.html.

11/14/2016 - U.S. Bancorp was downgraded to "underweight" by analysts at Morgan Stanley. If you are accessing this report on another publication, it was copied illegally and reposted in violation of United States & worldwide copyright law. U.S. Bancorp has a 52 week low of $42.52 and a 52 week high of $56.61. The stock has a market capitalization of $90.13 billion, a P/E ratio of 16.28 and a beta of 0.87. The firm has a 50-day moving average of $52.67 and a 200 day moving average of $52.05.

U.S. Bancorp had its "neutral" rating reiterated by analysts at Citigroup.

10/02/2017 - U.S. Bancorp was downgraded to "underperform" by analysts at Bank of America Merrill Lynch. Its adjusted revenue was $5.56 billion, which did not meet Street forecasts.

The company said the increase in third-quarter total net revenue was partially offset by higher noninterest expense, primarily due to increased compensation expense related to hiring to support business growth and compliance programs, merit increases, and higher variable compensation.

12/21/2016 - U.S. Bancorp was downgraded to "neutral" by analysts at Atlantic Equities. Stockholders of record on Friday, September 29th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.23%. This is an increase from U.S. Bancorp's previous quarterly dividend of $0.28. This repurchase authorization permits the financial services provider to repurchase up to 3% of its stock through open market purchases. Shares repurchase programs are usually a sign that the company's board believes its shares are undervalued.

A number of brokerages have commented on USB. More interesting news about U.S. Bancorp (NYSE:USB) were released by: Seekingalpha.com and their article: "Higher interest rates boost US Bancorp income" published on October 18, 2017 as well as Nasdaq.com's news article titled: "American Research & Management Co". Oppenheimer Holdings, Inc. reaffirmed a "hold" rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. In the final minutes of trading on Wednesday, shares hit $58.94, a rise of 39 percent in the last 12 months.

The company's stock is now moving with a +ve distance from the 200 day SMA of approximately 2.72%, and has a solid year to date (YTD) performance of 4.89% which means that the stock is constantly adding to its value from the previous fiscal year end price. Robert W. Baird restated a "hold" rating and set a $48.00 target price on shares of U.S. Bancorp in a report on Tuesday, September 5th. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the stock.



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