Oppenheimer Increases U.S. Bancorp (NYSE:USB) Price Target to $57.00

U.S. Bancorp (NYSE:USB) had its price objective increased by investment analysts at Oppenheimer from $54.00 to $57.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Oppenheimer’s price objective points to a potential upside of 28.00% from the company’s current price.

A number of other brokerages have also recently weighed in on USB. Evercore ISI upped their price objective on U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. Royal Bank of Canada restated an “outperform” rating and issued a $48.00 price target on shares of U.S. Bancorp in a report on Friday, September 13th. The Goldman Sachs Group reduced their price objective on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. DA Davidson increased their target price on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Finally, Citigroup lifted their price target on shares of U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, U.S. Bancorp has an average rating of “Hold” and an average price target of $48.50.

U.S. Bancorp Stock Up 0.2 %

NYSE USB traded up $0.07 during trading on Wednesday, reaching $44.53. 187,489 shares of the company’s stock traded hands, compared to its average volume of 8,300,042. U.S. Bancorp has a 12-month low of $30.47 and a 12-month high of $47.31. 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 has a market cap of $69.49 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 3.06 and a beta of 1.04. The company’s 50 day simple moving average is $44.52 and its two-hundred day simple moving average is $42.42.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.04. The company had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. U.S. Bancorp’s revenue was down 4.3% compared to the same quarter last year. During the same period last year, the company posted $1.12 earnings per share. As a group, sell-side analysts forecast that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp announced that its board has initiated a stock buyback program on Thursday, September 12th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Aleem Gillani bought 10,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were acquired at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $449,900. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.23% of the stock is owned by company insiders.

Hedge Funds Weigh In On U.S. Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the business. Valmark Advisers Inc. increased its stake in shares of U.S. Bancorp by 2.9% in the 2nd quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock worth $346,000 after acquiring an additional 242 shares during the last quarter. Waldron Private Wealth LLC boosted its holdings in U.S. Bancorp by 1.9% in the 2nd quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock valued at $534,000 after purchasing an additional 247 shares during the last quarter. Naples Global Advisors LLC lifted its position in U.S. Bancorp by 0.4% in the second quarter. Naples Global Advisors LLC now owns 65,360 shares of the financial services provider’s stock valued at $2,624,000 after buying an additional 248 shares during the last quarter. Kavar Capital Partners Group LLC boosted its position in U.S. Bancorp by 4.7% in the 2nd quarter. Kavar Capital Partners Group LLC now owns 5,555 shares of the financial services provider’s stock valued at $221,000 after buying an additional 250 shares during the period. Finally, STAR Financial Bank grew its stake in shares of U.S. Bancorp by 3.3% in the second quarter. STAR Financial Bank now owns 7,772 shares of the financial services provider’s stock worth $309,000 after acquiring an additional 250 shares in the last quarter. 77.60% of the stock is 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.