Oppenheimer Forecasts Strong Price Appreciation for U.S. Bancorp (NYSE:USB) Stock

U.S. Bancorp (NYSE:USB) had its price objective raised by Oppenheimer from $59.00 to $64.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Oppenheimer’s price target would indicate a potential upside of 34.74% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Stephens lifted their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. The Goldman Sachs Group dropped their price target on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Barclays lifted their price target on shares of U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. DA Davidson lifted their price target on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, U.S. Bancorp presently has an average rating of “Hold” and a consensus target price of $51.12.

U.S. Bancorp Stock Performance

Shares of NYSE:USB traded up $0.31 during trading on Tuesday, hitting $47.50. 1,338,432 shares of the stock traded hands, compared to its average volume of 8,286,061. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The company has a market cap of $74.12 billion, a price-to-earnings ratio of 14.56, a P/E/G ratio of 2.83 and a beta of 1.02. The company has a fifty day moving average price of $46.26 and a two-hundred day moving average price of $43.14. U.S. Bancorp has a 52-week low of $33.61 and a 52-week high of $50.47.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.04. The firm had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.05 EPS. As a group, equities analysts predict that U.S. Bancorp will post 3.92 EPS for the current year.

U.S. Bancorp announced that its Board of Directors has initiated a share buyback program on Thursday, September 12th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the sale, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.23% of the company’s stock.

Institutional Trading of U.S. Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in U.S. Bancorp by 0.4% in the first quarter. Vanguard Group Inc. now owns 135,371,282 shares of the financial services provider’s stock valued at $6,051,096,000 after acquiring an additional 502,776 shares in the last quarter. Davis Selected Advisers increased its holdings in U.S. Bancorp by 0.3% in the second quarter. Davis Selected Advisers now owns 14,228,444 shares of the financial services provider’s stock valued at $564,869,000 after buying an additional 43,437 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in U.S. Bancorp by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 13,312,930 shares of the financial services provider’s stock valued at $528,523,000 after buying an additional 94,841 shares during the last quarter. Legal & General Group Plc boosted its stake in U.S. Bancorp by 2.7% in the second quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider’s stock valued at $491,364,000 after acquiring an additional 325,374 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of U.S. Bancorp by 3.9% during the third quarter. Van ECK Associates Corp now owns 9,852,013 shares of the financial services provider’s stock worth $478,118,000 after buying an additional 373,559 shares during the period. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.