U.S. Bancorp (NYSE:USB) Price Target Increased to $59.00 by Analysts at Oppenheimer

U.S. Bancorp (NYSE:USB) had its price target hoisted by research analysts at Oppenheimer from $57.00 to $59.00 in a research note issued on Thursday, 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 19.12% from the company’s previous close.

USB has been the subject of several other reports. DA Davidson lifted 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. Wells Fargo & Company upped their target price on shares of U.S. Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. UBS Group raised their price target on U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Stephens upped their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $48.00 price objective on shares of U.S. Bancorp in a report on Friday, September 13th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, U.S. Bancorp has a consensus rating of “Hold” and an average target price of $49.39.

U.S. Bancorp Stock Up 0.7 %

USB opened at $49.53 on Thursday. The firm has a market capitalization of $77.29 billion, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 3.32 and a beta of 1.03. U.S. Bancorp has a one year low of $30.47 and a one year high of $50.11. The company has a fifty day moving average price of $44.94 and a 200-day moving average price of $42.58. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.99 by $0.04. The business had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The firm’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.05 earnings per share. Equities research analysts expect that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp declared that its board has authorized a share repurchase program 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 buy up to 7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On U.S. Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP lifted its stake in U.S. Bancorp by 1,438.4% during the 2nd quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider’s stock valued at $89,853,000 after acquiring an additional 2,116,175 shares during the period. National Bank of Canada FI grew its holdings in U.S. Bancorp by 313.8% during the second quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock valued at $105,903,000 after purchasing an additional 2,046,522 shares during the period. BNP Paribas Financial Markets grew its holdings in U.S. Bancorp by 88.9% during the first quarter. BNP Paribas Financial Markets now owns 2,331,050 shares of the financial services provider’s stock valued at $104,198,000 after purchasing an additional 1,097,179 shares during the period. Clearbridge Investments LLC lifted its position in shares of U.S. Bancorp by 16.2% during the 1st quarter. Clearbridge Investments LLC now owns 6,941,466 shares of the financial services provider’s stock valued at $310,284,000 after buying an additional 967,143 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of U.S. Bancorp by 15.6% during the 2nd quarter. American Century Companies Inc. now owns 6,846,497 shares of the financial services provider’s stock valued at $271,806,000 after acquiring an additional 925,073 shares during the period. 77.60% of the stock is owned by 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.