Oppenheimer Boosts U.S. Bancorp (NYSE:USB) Price Target to $64.00

U.S. Bancorp (NYSE:USB) had its price objective hoisted by Oppenheimer from $59.00 to $64.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Oppenheimer’s price objective indicates a potential upside of 24.85% from the company’s current price.

A number of other analysts have also recently weighed in on USB. Wells Fargo & Company increased their target price on shares of U.S. Bancorp from $52.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Stephens raised their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a research note on Thursday, October 24th. Barclays increased their price target on U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $54.00 to $57.00 in a research note on Monday, September 30th. Thirteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $51.12.

U.S. Bancorp Trading Up 7.7 %

NYSE:USB opened at $51.26 on Tuesday. The stock has a market cap of $79.99 billion, a price-to-earnings ratio of 15.68, a price-to-earnings-growth ratio of 2.79 and a beta of 1.02. U.S. Bancorp has a one year low of $33.61 and a one year high of $51.76. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. The business’s 50-day simple moving average is $46.40 and its 200 day simple moving average is $43.25.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data 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 net margin of 12.92% and a return on equity of 12.91%. The company had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. During the same period last year, the business earned $1.05 EPS. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, sell-side analysts predict that U.S. Bancorp will post 3.92 earnings per share for the current fiscal year.

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

Insider Transactions at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the completion of the transaction, the insider now owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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

A number of institutional investors and hedge funds have recently bought and sold shares of USB. Vanguard Group Inc. grew its position in U.S. Bancorp by 0.4% in the first quarter. Vanguard Group Inc. now owns 135,371,282 shares of the financial services provider’s stock worth $6,051,096,000 after buying an additional 502,776 shares during the last quarter. Davis Selected Advisers raised its holdings in U.S. Bancorp by 0.3% during the 2nd quarter. Davis Selected Advisers now owns 14,228,444 shares of the financial services provider’s stock worth $564,869,000 after buying an additional 43,437 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of 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 buying an additional 94,841 shares during the period. Legal & General Group Plc raised its holdings in shares of 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 valued at $491,364,000 after acquiring an additional 325,374 shares during the period. Finally, Van ECK Associates Corp raised its stake in U.S. Bancorp by 3.9% during the 3rd quarter. Van ECK Associates Corp now owns 9,852,013 shares of the financial services provider’s stock valued at $478,118,000 after purchasing an additional 373,559 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

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.