U.S. Bancorp (NYSE:USB) PT Raised to $57.00

U.S. Bancorp (NYSE:USB) had its target price increased by equities researchers at Oppenheimer from $54.00 to $57.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Oppenheimer’s price target would suggest a potential upside of 29.60% from the company’s previous close.

A number of other research firms also recently issued reports on USB. Citigroup increased 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. Evercore ISI upped their target price on U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 25th. Royal Bank of Canada reiterated an “outperform” rating and set a $48.00 price target on shares of U.S. Bancorp in a report on Friday, September 13th. UBS Group boosted their price target on U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Finally, DA Davidson raised their price objective 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. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $48.65.

U.S. Bancorp Stock Performance

Shares of USB opened at $43.98 on Wednesday. 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 stock has a market cap of $68.63 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 3.06 and a beta of 1.03. U.S. Bancorp has a one year low of $30.47 and a one year high of $47.31. The company has a 50-day moving average of $44.49 and a two-hundred day moving average of $42.45.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 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 $6.87 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same period in the prior year, the business earned $1.12 EPS. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, equities research analysts expect that U.S. Bancorp will post 3.86 earnings per share for the current year.

U.S. Bancorp announced that its board has initiated a share buyback plan on Thursday, September 12th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other U.S. Bancorp news, Director Aleem Gillani acquired 10,000 shares of U.S. Bancorp stock in a transaction dated Thursday, July 18th. The stock was bought at an average cost of $44.99 per share, with a total value of $449,900.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at $449,900. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On U.S. Bancorp

Several hedge funds have recently made changes to their positions in USB. Vanguard Group Inc. raised its holdings in U.S. Bancorp by 0.4% in 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 in the last quarter. Davis Selected Advisers raised its stake in shares of U.S. Bancorp by 0.3% in the second quarter. Davis Selected Advisers now owns 14,228,444 shares of the financial services provider’s stock valued at $564,869,000 after purchasing an additional 43,437 shares in the last quarter. Bank of New York Mellon Corp lifted its position in U.S. Bancorp by 0.7% in the second 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 boosted its stake 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 worth $491,364,000 after buying an additional 325,374 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in U.S. Bancorp by 2.9% during the second 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 in the last quarter. 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.