Compass Point Maintains a 'Neutral' on U.S. Bancorp (USB); Raising Estimates
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Price: $62.05 +0.44%
Rating Summary:
20 Buy, 18 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
20 Buy, 18 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Compass Point maintains a 'Neutral' on U.S. Bancorp (NYSE: USB) price target of $32.00.
Analyst, Chris Gamaitoni, said, "USB reported 2012Q1 earnings of $0.67 vs. our estimate of $0.70 and consensus of $0.65. Generally, trends were in-line with our expectations with the exception of stronger mortgage banking, a higher mortgage repurchase provision, and better expense management. We are increasing our 2012Q2 EPS estimate from $0.72 to $0.75 and our 2012 EPS estimate from $2.88 to $2.93 on better mortgage banking trends. Additionally, we are increasing our 2013 EPS estimate from $3.12 to $3.24 on a lower share count after there was additional clarity provided on capital returns. We continue to believe USB is a industry leading operator, but see no short-term catalysts to drive meaningful short-term stock appreciation."
For an analyst ratings summary and ratings history on U.S. Bancorp click here. For more ratings news on U.S. Bancorp click here.
Shares of U.S. Bancorp closed at $31.30 yesterday.
Analyst, Chris Gamaitoni, said, "USB reported 2012Q1 earnings of $0.67 vs. our estimate of $0.70 and consensus of $0.65. Generally, trends were in-line with our expectations with the exception of stronger mortgage banking, a higher mortgage repurchase provision, and better expense management. We are increasing our 2012Q2 EPS estimate from $0.72 to $0.75 and our 2012 EPS estimate from $2.88 to $2.93 on better mortgage banking trends. Additionally, we are increasing our 2013 EPS estimate from $3.12 to $3.24 on a lower share count after there was additional clarity provided on capital returns. We continue to believe USB is a industry leading operator, but see no short-term catalysts to drive meaningful short-term stock appreciation."
For an analyst ratings summary and ratings history on U.S. Bancorp click here. For more ratings news on U.S. Bancorp click here.
Shares of U.S. Bancorp closed at $31.30 yesterday.
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