Oppenheimer Issues Positive Forecast for U.S. Bancorp (NYSE:USB) Stock Price

U.S. Bancorp (NYSE:USB) had its price target upped by Oppenheimer from $62.00 to $63.00 in a research report report published on Friday morning,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Several other equities research analysts have also recently commented on the company. Stephens boosted their price target on U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Barclays boosted their price target on U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Raymond James raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target for the company in a research note on Thursday, December 19th. Wells Fargo & Company boosted their price target on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Robert W. Baird set a $54.00 target price on U.S. Bancorp in a research report on Thursday, October 17th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.21.

U.S. Bancorp Trading Up 0.8 %

NYSE:USB opened at $48.40 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The stock’s 50-day moving average is $50.22 and its two-hundred day moving average is $46.72. The stock has a market cap of $75.50 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. The business had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.99 EPS. As a group, equities research analysts forecast that U.S. Bancorp will post 3.91 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.13%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 61.16%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. State Street Corp raised its stake in shares of U.S. Bancorp by 1.2% in the third quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock valued at $3,110,115,000 after purchasing an additional 819,805 shares in the last quarter. FMR LLC raised its stake in shares of U.S. Bancorp by 32.7% in the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after purchasing an additional 15,746,852 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of U.S. Bancorp by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock valued at $2,164,350,000 after purchasing an additional 1,796,336 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of U.S. Bancorp by 1.8% in the third quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock valued at $1,507,616,000 after purchasing an additional 599,852 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of U.S. Bancorp by 2.7% in the second quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider’s stock valued at $491,364,000 after purchasing an additional 325,374 shares in the last quarter. 77.60% of the stock is currently 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.