U.S. Bancorp (NYSE:USB) Price Target Raised to $57.00 at Oppenheimer

U.S. Bancorp (NYSE:USB) had its target price increased by Oppenheimer from $54.00 to $57.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

USB has been the subject of several other research reports. Evercore ISI upped their price target on shares of U.S. Bancorp from $45.00 to $48.00 and gave the company an in-line rating in a report on Tuesday, June 25th. Morgan Stanley upgraded U.S. Bancorp from an equal weight rating to an overweight rating and increased their target price for the stock from $54.00 to $57.00 in a report on Monday. DA Davidson boosted their price target on U.S. Bancorp from $44.00 to $49.00 and gave the company a neutral rating in a report on Thursday, July 18th. Royal Bank of Canada reiterated an outperform rating and set a $48.00 price objective on shares of U.S. Bancorp in a report on Friday, September 13th. Finally, JPMorgan Chase & Co. downgraded U.S. Bancorp from an overweight rating to a neutral rating and set a $43.50 price target for the company. in a research report on Thursday, June 27th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $48.65.

U.S. Bancorp Price Performance

Shares of USB stock opened at $44.25 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. U.S. Bancorp has a 12-month low of $30.47 and a 12-month high of $47.31. The firm has a fifty day moving average of $44.51 and a 200-day moving average of $42.43. The firm has a market capitalization of $69.05 billion, a price-to-earnings ratio of 14.65, a price-to-earnings-growth ratio of 3.06 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.04. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The company had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same period in the prior year, the company earned $1.12 earnings per share. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, equities research analysts forecast that U.S. Bancorp will post 3.86 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.50 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date is Monday, September 30th. This represents a $2.00 annualized dividend and a yield of 4.52%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 66.23%.

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

Insider Activity

In related news, Director Aleem Gillani bought 10,000 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, July 18th. The stock was acquired at an average price of $44.99 per share, with a total value of $449,900.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $449,900. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its position in U.S. Bancorp by 7.7% during the fourth quarter. Jones Financial Companies Lllp now owns 9,028 shares of the financial services provider’s stock worth $391,000 after acquiring an additional 647 shares during the period. CWA Asset Management Group LLC acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at approximately $426,000. Edge Capital Group LLC boosted its stake in shares of U.S. Bancorp by 6.7% in the fourth quarter. Edge Capital Group LLC now owns 13,067 shares of the financial services provider’s stock valued at $566,000 after buying an additional 821 shares during the period. Tower Research Capital LLC TRC grew its position in U.S. Bancorp by 179.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 222,730 shares of the financial services provider’s stock worth $9,640,000 after buying an additional 143,130 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in U.S. Bancorp by 26.3% in the 4th quarter. Oppenheimer & Co. Inc. now owns 181,399 shares of the financial services provider’s stock valued at $7,851,000 after acquiring an additional 37,765 shares in the last quarter. 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.