US Bancorp (NYSE: USB)‘s stock had its “neutral” rating restated by Zacks in a research report issued to clients and investors on Monday, AnalystRatingsNetwork reports. They currently have a $37.50 price objective on the stock. Zacks‘ price objective points to a potential upside of 5.37% from the company’s current price.
Zacks‘ analyst wrote, “U.S. Bancorp delivered encouraging first-quarter 2013 results. Though the company’s reported earnings were in line with the Zacks Consensus Estimate, it surpassed the year-ago earnings. Reduced non-interest expenses and a lower provision for credit losses acted as tailwinds for the quarter. Moreover, credit metrics improved in the reported quarter. Yet, non-interest income moved down. Nevertheless, U.S. Bancorp’s attractive core franchisee, diverse revenue streams and strong performance in the past years are impressive. A solid capital position, improving credit quality and increase in lending activities augur well for the company. It adheres to a conservative growth stratagem and has made small but strategic acquisitions. Yet, regulatory issues along with the expectation of a continued low interest-rate environment are likely to limit the stock’s upside potential in the upcoming quarters.”
A number of other analysts have also recently weighed in on USB. Analysts at TheStreet reiterated a “buy” rating on shares of US Bancorp in a research note to investors on Monday.
Seventeen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $36.37.
Shares of US Bancorp (NYSE: USB) traded down 0.59% during mid-day trading on Monday, hitting $35.38. US Bancorp has a 52 week low of $29.62 and a 52 week high of $36.00. The stock’s 50-day moving average is currently $34.19. The company has a market cap of $65.440 billion and a P/E ratio of 12.27.
US Bancorp (NYSE: USB) last posted its quarterly earnings results on Tuesday, April 16th. The company reported $0.73 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.73. During the same quarter last year, the company posted $0.67 earnings per share. Analysts expect that US Bancorp will post $3.04 EPS for the current fiscal year.
U.S. Bancorp (NYSE: USB) is a multi-state financial services holding company.
To view Zacks’ full report, visit www.zacks.com
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