U.S. Bancorp (NYSE:USB) Price Target Raised to $59.00 at Oppenheimer

U.S. Bancorp (NYSE:USB) had its target price hoisted by research analysts at Oppenheimer from $57.00 to $59.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Oppenheimer’s target price would suggest a potential upside of 19.12% from the stock’s previous close.

Several other brokerages have also recently weighed in on USB. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $54.00 to $57.00 in a report on Monday, September 30th. Evercore ISI boosted their price target on U.S. Bancorp from $49.00 to $51.00 and gave the company an “in-line” rating in a research note on Wednesday, October 2nd. StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Citigroup boosted their target price on shares of U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Finally, JPMorgan Chase & Co. lowered shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price target on the stock. in a research report on Thursday, June 27th. Twelve equities 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.com, the company presently has a consensus rating of “Hold” and a consensus target price of $49.39.

U.S. Bancorp Trading Up 0.7 %

USB stock opened at $49.53 on Thursday. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $50.11. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. The company’s 50-day simple moving average is $44.94 and its 200 day simple moving average is $42.58. The company has a market capitalization of $77.29 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 3.32 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. The firm had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The business’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.05 EPS. As a group, sell-side analysts anticipate that U.S. Bancorp will post 3.86 earnings per share for the current year.

U.S. Bancorp announced that its Board of Directors has approved a share buyback plan on Thursday, September 12th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of USB. Vanguard Group Inc. increased its holdings in U.S. Bancorp by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 135,371,282 shares of the financial services provider’s stock worth $6,051,096,000 after purchasing an additional 502,776 shares in the last quarter. Davis Selected Advisers increased its stake in shares of U.S. Bancorp by 0.3% during the 2nd quarter. Davis Selected Advisers now owns 14,228,444 shares of the financial services provider’s stock worth $564,869,000 after purchasing an additional 43,437 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of U.S. Bancorp by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,312,930 shares of the financial services provider’s stock worth $528,523,000 after purchasing an additional 94,841 shares during the period. Legal & General Group Plc grew its holdings in U.S. Bancorp by 2.7% during 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 purchasing an additional 325,374 shares during the period. Finally, Van ECK Associates Corp increased its holdings in U.S. Bancorp by 2.9% in the 2nd quarter. Van ECK Associates Corp now owns 9,478,454 shares of the financial services provider’s stock worth $376,295,000 after acquiring an additional 271,078 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

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.