Evercore ISI Raises U.S. Bancorp (NYSE:USB) Price Target to $51.00

U.S. Bancorp (NYSE:USB) had its target price lifted by analysts at Evercore ISI from $49.00 to $51.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “in-line” rating on the financial services provider’s stock. Evercore ISI’s price objective indicates a potential upside of 14.58% from the stock’s current price.

USB has been the topic of a number of other research reports. Jefferies Financial Group reduced their target price on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $48.00 price target on shares of U.S. Bancorp in a research note on Friday, September 13th. StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Citigroup raised their target price on shares of U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Finally, DA Davidson lifted their price target on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Hold” and a consensus target price of $48.65.

U.S. Bancorp Trading Up 0.1 %

Shares of U.S. Bancorp stock traded up $0.05 on Wednesday, reaching $44.51. The company had a trading volume of 829,443 shares, compared to its average volume of 8,303,420. The firm has a market cap of $69.46 billion, a price-to-earnings ratio of 14.74, a P/E/G ratio of 3.06 and a beta of 1.04. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. The firm’s 50-day moving average price is $44.52 and its two-hundred day moving average price is $42.42. U.S. Bancorp has a 1 year low of $30.47 and a 1 year high of $47.31.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. The firm had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.12 EPS. As a group, research analysts predict that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp announced that its board has initiated a share buyback 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 reacquire up to 7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other U.S. Bancorp news, Director Aleem Gillani acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was bought at an average price of $44.99 per share, with a total value of $449,900.00. Following the purchase, the director now owns 10,000 shares in the company, valued at $449,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.23% of the company’s stock.

Institutional Trading of U.S. Bancorp

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of 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 valued at $6,051,096,000 after acquiring an additional 502,776 shares during the last quarter. Davis Selected Advisers raised its stake in U.S. Bancorp by 0.3% during the second 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 period. Bank of New York Mellon Corp boosted its holdings in 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 valued at $528,523,000 after purchasing an additional 94,841 shares during the last quarter. Legal & General Group Plc grew its stake in shares of U.S. Bancorp by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider’s stock valued at $491,364,000 after buying an additional 325,374 shares during the period. Finally, Van ECK Associates Corp increased its holdings in shares of U.S. Bancorp by 2.9% during 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 buying an additional 271,078 shares during the last quarter. 77.60% of the stock is currently owned by hedge funds and other 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.