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

U.S. Bancorp (NYSE:USB) had its price objective increased by Oppenheimer from $57.00 to $59.00 in a research note published on Thursday morning, Marketbeat Ratings reports. Oppenheimer currently has an outperform rating on the financial services provider’s stock.

A number of other equities research analysts have also recently weighed in on the company. DA Davidson boosted their price objective on U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Wells Fargo & Company lifted their target price on U.S. Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. Jefferies Financial Group cut their price target on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. downgraded U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price target for the company. in a report on Thursday, June 27th. 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. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $50.71.

U.S. Bancorp Stock Down 1.6 %

Shares of U.S. Bancorp stock opened at $49.16 on Thursday. The company has a market capitalization of $76.71 billion, a P/E ratio of 16.28, a P/E/G ratio of 3.32 and a beta of 1.03. The company has a 50 day moving average of $45.24 and a 200 day moving average of $42.66. U.S. Bancorp has a 52-week low of $30.47 and a 52-week high of $50.47. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05.

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, topping the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The firm had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter in the previous year, the business earned $1.05 earnings per share. The firm’s revenue was down 2.4% compared to the same quarter last year. As a group, research analysts forecast that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.50 dividend. The ex-dividend date was Monday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 4.07%. U.S. Bancorp’s payout ratio is currently 66.23%.

U.S. Bancorp declared that its board has authorized a stock 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 repurchase 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 Trading of U.S. Bancorp

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