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

U.S. Bancorp (NYSE:USB) had its price target boosted by equities research analysts at Oppenheimer from $59.00 to $64.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Oppenheimer’s price objective indicates a potential upside of 24.85% from the stock’s previous close.

A number of other brokerages have also recently weighed in on USB. Barclays raised their price target on U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Wells Fargo & Company lifted their target price on shares of U.S. Bancorp from $52.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. UBS Group increased their price target on shares of U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. StockNews.com upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $54.00 to $57.00 in a report on Monday, September 30th. Thirteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $51.12.

U.S. Bancorp Stock Up 7.7 %

USB stock opened at $51.26 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The company’s 50-day moving average price is $46.40 and its 200 day moving average price is $43.25. U.S. Bancorp has a 52 week low of $33.61 and a 52 week high of $51.76. The company has a market cap of $79.99 billion, a P/E ratio of 15.68, a P/E/G ratio of 2.79 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last announced its quarterly 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. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The business had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same quarter in the previous year, the company earned $1.05 EPS. The company’s quarterly revenue was down 2.4% on a year-over-year basis. On average, research analysts expect that U.S. Bancorp will post 3.92 earnings per share for the current fiscal year.

U.S. Bancorp announced that its board has initiated a share buyback plan on Thursday, September 12th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $49.03, for a total value of $1,225,750.00. Following the transaction, the insider now directly owns 129,790 shares of the company’s stock, valued at $6,363,603.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.23% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of USB. Redwood Wealth Management Group LLC acquired a new position in shares of U.S. Bancorp during the 2nd quarter valued at $25,000. Frazier Financial Advisors LLC lifted its stake in shares of U.S. Bancorp by 222.7% during the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 441 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of U.S. Bancorp in the second quarter worth about $30,000. Eagle Bay Advisors LLC grew its stake in shares of U.S. Bancorp by 93.2% in the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after buying an additional 331 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in U.S. Bancorp during the 1st quarter worth approximately $31,000. 77.60% of the stock is owned by institutional investors and hedge funds.

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.