The stock of U.S. Bancorp (NYSE:USB) reached all time high today, Nov, 30 and still has $53.06 target or 7.00% above today’s $49.59 share price. This indicates more upside for the $84.63 billion company. This technical setup was reported by Barchart.com. If the $53.06 PT is reached, the company will be worth $5.92 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 1.76M shares traded hands. U.S. Bancorp (NYSE:USB) has risen 12.80% since April 27, 2016 and is uptrending. It has outperformed by 7.57% the S&P500.
Analysts await U.S. Bancorp (NYSE:USB) to report earnings on January, 20. They expect $0.81 EPS, up 2.53% or $0.02 from last year’s $0.79 per share. USB’s profit will be $1.38 billion for 15.31 P/E if the $0.81 EPS becomes a reality. After $0.84 actual EPS reported by U.S. Bancorp for the previous quarter, Wall Street now forecasts -3.57% negative EPS growth.
U.S. Bancorp (NYSE:USB) Ratings Coverage
Out of 21 analysts covering U.S. Bancorp (NYSE:USB), 7 rate it a “Buy”, 1 “Sell”, while 13 “Hold”. This means 33% are positive. U.S. Bancorp has been the topic of 40 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Robert W. Baird upgraded the stock to “Outperform” rating in Thursday, January 14 report. The stock of U.S. Bancorp (NYSE:USB) has “Equal-Weight” rating given on Tuesday, March 8 by Stephens. The rating was upgraded by Jefferies on Monday, November 28 to “Buy”. The firm has “Overweight” rating given on Tuesday, November 24 by Piper Jaffray. Deutsche Bank upgraded U.S. Bancorp (NYSE:USB) on Tuesday, September 8 to “Buy” rating. As per Monday, March 14, the company rating was upgraded by Atlantic Securities. RBC Capital Markets maintained the stock with “Outperform” rating in Wednesday, October 7 report. The firm has “Underweight” rating given on Monday, November 14 by Morgan Stanley. The rating was downgraded by Guggenheim to “Neutral” on Wednesday, April 6. The stock has “Hold” rating given by Deutsche Bank on Wednesday, August 12.
According to Zacks Investment Research, “U.S. Bancorp is a financial services holding company. They operate full-service branch offices and ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp is the parent company of Firstar Bank and U.S. Bank.”
Insitutional Activity: The institutional sentiment decreased to 0.97 in Q2 2016. Its down 0.02, from 0.99 in 2016Q1. The ratio turned negative, as 60 funds sold all U.S. Bancorp shares owned while 406 reduced positions. 61 funds bought stakes while 401 increased positions. They now own 1.22 billion shares or 0.34% less from 1.23 billion shares in 2016Q1.
Mcrae Capital Management Inc, a New Jersey-based fund reported 203,270 shares. Associated Banc, a Alabama-based fund reported 446,090 shares. Inverness Counsel Ltd Ny holds 1.89% of its portfolio in U.S. Bancorp (NYSE:USB) for 603,311 shares. Fmr Limited Liability holds 74.28 million shares or 0.41% of its portfolio. The New York-based Spirit Of America Management Corporation New York has invested 0.06% in U.S. Bancorp (NYSE:USB). Connable Office Inc holds 0.83% or 73,519 shares in its portfolio. Budros Ruhlin & Roe holds 7,021 shares or 0.09% of its portfolio. Crestwood Lc accumulated 0.03% or 5,770 shares. Firstmerit Bancshares N A Trustee reported 297,774 shares or 0.97% of all its holdings. Glg Ltd holds 0.23% of its portfolio in U.S. Bancorp (NYSE:USB) for 75,103 shares. The Rhode Island-based Amica Retiree Medical Trust has invested 0.47% in U.S. Bancorp (NYSE:USB). The New York-based Nikko Asset Americas has invested 0.05% in U.S. Bancorp (NYSE:USB). Linscomb Williams holds 0.13% of its portfolio in U.S. Bancorp (NYSE:USB) for 33,022 shares. Cardinal Cap Mgmt Inc has 1.22% invested in the company for 274,450 shares. Stephens Inc Ar has 130,307 shares for 0.23% of their US portfolio.
Insider Transactions: Since July 21, 2016, the stock had 0 insider purchases, and 20 sales for $86.97 million net activity. On Wednesday, November 9 von Gillern Jeffry H. sold $932,600 worth of the stock or 20,000 shares. The insider KIRTLEY OLIVIA F sold 1,454 shares worth $62,333. $210,150 worth of U.S. Bancorp (NYSE:USB) shares were sold by DOLAN TERRANCE R. 37,000 shares were sold by CARLSON JENNIE P, worth $1.79 million on Monday, November 14. SCHNUCK CRAIG D sold $728,101 worth of stock or 16,544 shares. Another trade for 500 shares valued at $22,485 was sold by Gifford Craig E. Stone Kent V. sold 29,947 shares worth $1.26 million.
More recent U.S. Bancorp (NYSE:USB) news were published by: Businesswire.com which released: “U.S. Bancorp to Speak at the Goldman Sachs US Financial Services Conference 2016” on November 29, 2016. Also Forbes.com published the news titled: “U.S. Bancorp Reaches Analyst Target Price” on November 10, 2016. Nasdaq.com‘s news article titled: “U.S. Bancorp (USB) Exhibits Organic Growth, Time to Hold?” with publication date: November 16, 2016 was also an interesting one.
USB Company Profile
U.S. Bancorp, incorporated on April 2, 1929, is a multi-state financial services holding company. The Firm operates through its banking subsidiary, U.S. Bank National Association, which is engaged in the general banking business in domestic markets. The Firm 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.
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