U.S. Bancorp (USB) is Initiated by Wedbush to Neutral, Price Target at $46

U.S. Bancorp (USB) was Initiated by Wedbush to “Neutral” and the brokerage firm has set the Price Target at $46. Wedbush advised their investors in a research report released on Oct 7, 2016.

On the company’s financial health, U.S. Bancorp reported $0.82 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 15, 2016. Analyst had a consensus of $0.80. The company had revenue of $5448.00 million for the quarter, compared to analysts expectations of $5208.03 million. The company’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 EPS.

U.S. Bancorp opened for trading at $42.74 and hit $43.15 on the upside on Tuesday, eventually ending the session at $42.85, with a gain of 0.45% or 0.19 points. The heightened volatility saw the trading volume jump to 83,64,680 shares. Company has a market cap of $73,339 M.

In a different news, on Aug 9, 2016, Olivia F Kirtley (director) sold 1,454 shares at $42.87 per share price. According to the SEC, on Jul 25, 2016, Kent V. Stone (Vice Chairman) sold 29,947 shares at $42.11 per share price. On Jul 25, 2016, Terrance R Dolan (Vice Chairman) sold 5,000 shares at $42.03 per share price, according to the Form-4 filing with the securities and exchange commission.

U.S. Bancorp is a multi-state financial services holding company. The Company operates through its banking subsidiary U.S. Bank National Association is engaged in the general banking business in domestic markets. The Company provides a 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 machines (ATM) processing mortgage banking insurance brokerage and leasing. U.S. Bank National Association provides a range of products and services to individuals businesses institutional organizations governmental entities and other financial institutions. Its commercial and consumer lending services are offered to customers within the Company’s domestic markets to domestic customers with foreign operations and to large national customers operating in specific industries targeted by the Company.

U.S. Bancorp

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