U.S. Bancorp (NYSE:USB) PT Raised to $59.00

U.S. Bancorp (NYSE:USB) had its price target boosted by stock analysts at Oppenheimer from $57.00 to $59.00 in a note issued to investors on Thursday, MarketBeat Ratings reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Oppenheimer’s price objective would indicate a potential upside of 20.02% from the stock’s previous close.

A number of other analysts have also issued reports on USB. Royal Bank of Canada restated an “outperform” rating and issued a $48.00 target price on shares of U.S. Bancorp in a report on Friday, September 13th. UBS Group increased their price objective on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. DA Davidson raised their price objective on U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $54.00 to $57.00 in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. cut shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price target for the company. in a report on Thursday, June 27th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $50.71.

U.S. Bancorp Price Performance

NYSE USB opened at $49.16 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05. U.S. Bancorp has a 1 year low of $30.47 and a 1 year high of $50.47. The company has a market cap of $76.71 billion, a PE ratio of 16.28, a PEG ratio of 3.32 and a beta of 1.03. The stock’s 50-day moving average price is $45.24 and its two-hundred day moving average price is $42.66.

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

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

Hedge Funds Weigh In On U.S. Bancorp

A number of institutional investors have recently modified their holdings of the company. Marshall Wace LLP boosted its holdings in shares of 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 worth $89,853,000 after buying an additional 2,116,175 shares during the period. National Bank of Canada FI boosted 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 acquiring an additional 2,046,522 shares during the period. BNP Paribas Financial Markets grew its position in shares of U.S. Bancorp by 88.9% in 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 last quarter. Clearbridge Investments LLC increased its stake in shares of U.S. Bancorp by 16.2% in the first quarter. Clearbridge Investments LLC now owns 6,941,466 shares of the financial services provider’s stock worth $310,284,000 after purchasing an additional 967,143 shares during the period. Finally, American Century Companies Inc. lifted its position 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 worth $271,806,000 after purchasing an additional 925,073 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

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.