U.S. Bancorp (NYSE:USB) Price Target Raised to $66.00 at Oppenheimer

U.S. Bancorp (NYSE:USB) had its price objective upped by equities research analysts at Oppenheimer from $65.00 to $66.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Oppenheimer’s target price points to a potential upside of 45.28% from the company’s current price.

USB has been the topic of several other reports. Barclays decreased their price target on shares of U.S. Bancorp from $61.00 to $56.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Evercore ISI increased their price objective on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company an “in-line” rating in a report on Wednesday, June 4th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $43.50 price objective (down from $51.00) on shares of U.S. Bancorp in a report on Thursday, April 3rd. Morgan Stanley increased their price objective on shares of U.S. Bancorp from $51.00 to $52.00 and gave the company an “overweight” rating in a report on Friday. Finally, Royal Bank Of Canada cut their target price on shares of U.S. Bancorp from $57.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $52.07.

U.S. Bancorp Price Performance

NYSE USB traded up $0.22 on Friday, reaching $45.43. The company’s stock had a trading volume of 1,188,504 shares, compared to its average volume of 9,469,413. The firm has a market cap of $70.78 billion, a PE ratio of 11.23, a price-to-earnings-growth ratio of 1.76 and a beta of 0.99. The business has a 50-day moving average price of $44.74 and a 200 day moving average price of $44.31. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.04. The firm had revenue of $7.06 billion for the quarter, compared to analysts’ expectations of $7.07 billion. U.S. Bancorp had a net margin of 15.70% and a return on equity of 13.02%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.98 earnings per share. Sell-side analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

Insider Activity

In related news, Director Aleem Gillani bought 5,000 shares of the business’s stock in a transaction dated Monday, April 21st. The stock was bought at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the purchase, the director owned 15,000 shares in the company, valued at $559,800. This represents a 50.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

Institutional Trading of U.S. Bancorp

A number of hedge funds have recently modified their holdings of USB. FIL Ltd raised its stake in U.S. Bancorp by 42.0% in the 4th quarter. FIL Ltd now owns 28,872 shares of the financial services provider’s stock worth $1,381,000 after purchasing an additional 8,542 shares in the last quarter. Wesbanco Bank Inc. boosted its holdings in U.S. Bancorp by 31.6% in the 1st quarter. Wesbanco Bank Inc. now owns 325,056 shares of the financial services provider’s stock valued at $13,724,000 after purchasing an additional 78,146 shares during the period. Vanguard Group Inc. boosted its holdings in U.S. Bancorp by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider’s stock valued at $6,640,569,000 after purchasing an additional 1,079,056 shares during the period. Becker Capital Management Inc. boosted its holdings in U.S. Bancorp by 1.5% in the 4th quarter. Becker Capital Management Inc. now owns 560,095 shares of the financial services provider’s stock valued at $27,069,000 after purchasing an additional 8,204 shares during the period. Finally, United Community Bank boosted its holdings in U.S. Bancorp by 21.8% in the 1st quarter. United Community Bank now owns 49,066 shares of the financial services provider’s stock valued at $2,072,000 after purchasing an additional 8,796 shares during the period. 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.