U.S. Bancorp (NYSE:USB) Price Target Raised to $60.00

U.S. Bancorp (NYSE:USB) had its price objective upped by equities research analysts at Compass Point from $49.00 to $60.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Compass Point’s price target points to a potential upside of 17.14% from the company’s previous close.

USB has been the topic of several other research reports. Evercore ISI raised their price target on shares of U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Barclays raised their price target on shares of U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Oppenheimer raised their price target on shares of U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Stephens raised their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada set a $53.00 price target on shares of U.S. Bancorp in a research note on Thursday, October 17th. Twelve equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, U.S. Bancorp currently has an average rating of “Hold” and an average target price of $53.27.

U.S. Bancorp Stock Down 0.2 %

Shares of USB stock traded down $0.09 during trading hours on Tuesday, hitting $51.22. 585,963 shares of the company were exchanged, compared to its average volume of 8,208,538. 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 $49.24 and its two-hundred day simple moving average is $44.95. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98. The stock has a market capitalization of $79.90 billion, a price-to-earnings ratio of 15.66, a P/E/G ratio of 3.08 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter last year, the company posted $1.05 earnings per share. U.S. Bancorp’s revenue was down 2.4% on a year-over-year basis. Sell-side analysts predict that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp declared that its Board of Directors has authorized a share buyback program on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the completion of the sale, the insider now owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. boosted its holdings in shares of U.S. Bancorp by 153.0% in the third quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock valued at $374,573,000 after buying an additional 4,807,662 shares during the period. Peapack Gladstone Financial Corp lifted its stake in U.S. Bancorp by 0.5% in the third quarter. Peapack Gladstone Financial Corp now owns 250,340 shares of the financial services provider’s stock valued at $11,449,000 after acquiring an additional 1,188 shares during the last quarter. Synovus Financial Corp lifted its stake in U.S. Bancorp by 12.4% in the third quarter. Synovus Financial Corp now owns 75,156 shares of the financial services provider’s stock valued at $3,437,000 after acquiring an additional 8,272 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its stake in U.S. Bancorp by 126.1% in the third quarter. Wilmington Savings Fund Society FSB now owns 44,819 shares of the financial services provider’s stock valued at $2,050,000 after acquiring an additional 24,992 shares during the last quarter. Finally, World Investment Advisors LLC lifted its stake in U.S. Bancorp by 6.0% in the third quarter. World Investment Advisors LLC now owns 52,619 shares of the financial services provider’s stock valued at $2,406,000 after acquiring an additional 2,988 shares during the last quarter. Institutional investors and hedge funds 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.