U.S. Bancorp (NYSE:USB) Price Target Raised to $59.00 at Oppenheimer

U.S. Bancorp (NYSE:USB) had its price objective hoisted by Oppenheimer from $57.00 to $59.00 in a report released on Thursday, Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

Several other equities research analysts have also commented on the company. Evercore ISI upped their target price on U.S. Bancorp from $49.00 to $51.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. DA Davidson boosted their target price on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Citigroup raised their price target on shares of U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Finally, 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. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $50.34.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $49.98 on Thursday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. U.S. Bancorp has a one year low of $30.47 and a one year high of $50.47. The stock’s 50 day moving average is $45.10 and its 200 day moving average is $42.63. The firm has a market cap of $77.99 billion, a P/E ratio of 16.55, a P/E/G ratio of 3.32 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data 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 company had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. U.S. Bancorp’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.05 earnings per share. As a group, research analysts expect that U.S. Bancorp will post 3.86 EPS for the current year.

U.S. Bancorp declared that its Board of Directors has authorized a share repurchase program on Thursday, September 12th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.50 dividend. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. This represents a $2.00 annualized dividend and a yield of 4.00%. U.S. Bancorp’s dividend payout ratio (DPR) is 66.23%.

Hedge Funds Weigh In On U.S. Bancorp

Institutional investors have recently modified their holdings of the business. Valmark Advisers Inc. grew its stake in U.S. Bancorp by 2.9% in the 2nd quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock valued at $346,000 after purchasing an additional 242 shares during the period. Waldron Private Wealth LLC raised its stake in U.S. Bancorp by 1.9% in the 2nd quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock valued at $534,000 after acquiring an additional 247 shares during the period. Naples Global Advisors LLC boosted its position in U.S. Bancorp by 0.4% during the second quarter. Naples Global Advisors LLC now owns 65,360 shares of the financial services provider’s stock worth $2,624,000 after purchasing an additional 248 shares during the period. Kavar Capital Partners Group LLC increased its stake in shares of U.S. Bancorp by 4.7% in the second quarter. Kavar Capital Partners Group LLC now owns 5,555 shares of the financial services provider’s stock worth $221,000 after purchasing an additional 250 shares in the last quarter. Finally, STAR Financial Bank raised its position in shares of U.S. Bancorp by 3.3% in the second quarter. STAR Financial Bank now owns 7,772 shares of the financial services provider’s stock valued at $309,000 after purchasing an additional 250 shares during the period. 77.60% of the stock is owned by institutional investors.

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.