U.S. Bancorp (NYSE:USB) Given New $51.00 Price Target at Evercore ISI

U.S. Bancorp (NYSE:USB) had its target price boosted by investment analysts at Evercore ISI from $49.00 to $51.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “in-line” rating on the financial services provider’s stock. Evercore ISI’s price objective suggests a potential upside of 15.96% from the stock’s current price.

Several other analysts also recently issued reports on USB. DA Davidson raised their price objective on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $54.00 to $57.00 in a report on Monday. Oppenheimer upped their price objective on U.S. Bancorp from $54.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday. StockNews.com upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, The Goldman Sachs Group cut their price target on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $48.65.

U.S. Bancorp Stock Performance

NYSE USB opened at $43.98 on Wednesday. The business’s 50 day moving average price is $44.49 and its 200-day moving average price is $42.45. U.S. Bancorp has a fifty-two week low of $30.47 and a fifty-two week high of $47.31. The company has a market cap of $68.63 billion, a P/E ratio of 14.56, a P/E/G ratio of 3.06 and a beta of 1.03. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.04. The business had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.12 earnings per share. Sell-side analysts predict that U.S. Bancorp will post 3.86 earnings per share for the current year.

U.S. Bancorp declared that its Board of Directors has initiated a share repurchase 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 reacquire up to 7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Aleem Gillani purchased 10,000 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were acquired at an average cost of $44.99 per share, with a total value of $449,900.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $449,900. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in USB. Valmark Advisers Inc. boosted its holdings 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 worth $346,000 after acquiring an additional 242 shares in the last quarter. Waldron Private Wealth LLC raised its holdings in shares of U.S. Bancorp by 1.9% in the second quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock worth $534,000 after buying an additional 247 shares during the last quarter. Naples Global Advisors LLC lifted its stake in shares of U.S. Bancorp by 0.4% during the second 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 period. Kavar Capital Partners Group LLC grew its holdings in shares of U.S. Bancorp by 4.7% during the second 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 last quarter. Finally, STAR Financial Bank increased its position in shares of U.S. Bancorp by 3.3% in the 2nd quarter. STAR Financial Bank now owns 7,772 shares of the financial services provider’s stock valued at $309,000 after acquiring an additional 250 shares during the period. 77.60% of the stock is currently 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.