U.S. Bancorp (USB) is Reiterated by Wedbush to Neutral, Raises Price Target to $ 50

U.S. Bancorp (USB) was Reiterated by Wedbush to “Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 50 from a previous price target of $49 . Wedbush advised their investors in a research report released on Nov 30, 2016.

Many Wall Street Analysts have commented on U.S. Bancorp. U.S. Bancorp was Upgraded by Jefferies to ” Buy” on Nov 28, 2016. U.S. Bancorp was Downgraded by Piper Jaffray to ” Neutral” on Nov 16, 2016. U.S. Bancorp was Downgraded by Morgan Stanley to ” Underweight” on Nov 14, 2016.

On the company’s financial health, U.S. Bancorp reported $0.84 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Oct 19, 2016. Analyst had a consensus of $0.83. The company had revenue of $5388.00 million for the quarter, compared to analysts expectations of $5374.60 million. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 EPS.

U.S. Bancorp opened for trading at $49.12 and hit $49.35 on the upside on Tuesday, eventually ending the session at $49.1, with a gain of 0.41% or 0.2 points. The heightened volatility saw the trading volume jump to 57,26,555 shares. Company has a market cap of $83,454 M.

In a different news, on Nov 17, 2016, Terrance R Dolan (Vice Chairman & CFO) sold 55,205 shares at $47.67 per share price. According to the SEC, on Nov 17, 2016, Craig D Schnuck (director) sold 16,544 shares at $48.44 per share price. On Nov 16, 2016, Jennie P Carlson (EVP, Human Resources) sold 37,000 shares at $48.45 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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