U.S. Bancorp (NYSE:USB) Price Target Lowered to $62.00 at Oppenheimer

U.S. Bancorp (NYSE:USB) had its target price decreased by stock analysts at Oppenheimer from $66.00 to $62.00 in a report released on Friday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Oppenheimer’s price target would suggest a potential upside of 28.13% from the company’s current price.

Other analysts have also recently issued reports about the stock. Stephens raised their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Barclays raised their price target on shares of U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a report on Thursday, October 17th. Piper Sandler raised their target price on U.S. Bancorp from $52.00 to $58.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the stock from $58.00 to $60.00 in a research note on Thursday. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.88.

U.S. Bancorp Stock Performance

Shares of USB traded up $0.53 during trading hours on Friday, reaching $48.39. 1,579,417 shares of the company’s stock traded hands, compared to its average volume of 3,779,367. The firm has a market capitalization of $75.49 billion, a price-to-earnings ratio of 14.80, a P/E/G ratio of 3.03 and a beta of 1.03. The business’s fifty day simple moving average is $50.17 and its two-hundred day simple moving average is $46.09. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data 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 company 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 revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.05 EPS. Analysts predict that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp declared that its Board of Directors has authorized a stock repurchase program on Thursday, September 12th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the sale, the insider now owns 129,790 shares in the company, valued at $6,363,603.70. This represents a 16.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On U.S. Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the company. Redwood Wealth Management Group LLC bought a new stake in U.S. Bancorp in the second quarter valued at approximately $25,000. Frazier Financial Advisors LLC boosted its holdings in shares of U.S. Bancorp by 222.7% during the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after buying an additional 441 shares during the period. Global Wealth Strategies & Associates grew its stake in U.S. Bancorp by 70.8% in the 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after buying an additional 250 shares during the last quarter. Y.D. More Investments Ltd acquired a new stake in U.S. Bancorp during the second quarter worth approximately $33,000. Finally, Kimelman & Baird LLC acquired a new position in shares of U.S. Bancorp in the second quarter valued at approximately $40,000. 77.60% of the stock is owned by institutional investors.

About U.S. Bancorp

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.