U.S. Bancorp (NYSE:USB) Given New $64.00 Price Target at Oppenheimer

U.S. Bancorp (NYSE:USB) had its target price raised by Oppenheimer from $59.00 to $64.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

USB has been the subject of a number of other research reports. Evercore ISI boosted their target price on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group reduced their target price on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $54.00 to $57.00 in a research report on Monday, September 30th. Wells Fargo & Company increased their price objective on U.S. Bancorp from $52.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, Barclays lifted their target price on shares of U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Thirteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp currently has a consensus rating of “Hold” and an average target price of $51.12.

U.S. Bancorp Trading Up 0.9 %

Shares of U.S. Bancorp stock opened at $47.62 on Tuesday. U.S. Bancorp has a fifty-two week low of $33.61 and a fifty-two week high of $50.47. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $74.31 billion, a P/E ratio of 14.56, a price-to-earnings-growth ratio of 2.83 and a beta of 1.02. The firm has a 50-day simple moving average of $46.30 and a two-hundred day simple moving average of $43.19.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.99 by $0.04. The company had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. U.S. Bancorp’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period last year, the company earned $1.05 earnings per share. As a group, equities analysts predict that U.S. Bancorp will post 3.92 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.50 dividend. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 4.20%. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s dividend payout ratio is currently 61.16%.

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

Insider Buying and Selling at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction on 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 completion of the sale, the insider now directly owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. D Orazio & Associates Inc. purchased a new position in U.S. Bancorp in the 3rd quarter valued at approximately $263,000. Oppenheimer Asset Management Inc. raised its stake in shares of U.S. Bancorp by 31.5% in the third quarter. Oppenheimer Asset Management Inc. now owns 192,322 shares of the financial services provider’s stock valued at $8,795,000 after acquiring an additional 46,112 shares in the last quarter. Encompass Wealth Advisors LLC purchased a new position in U.S. Bancorp in the third quarter valued at $214,000. Chase Investment Counsel Corp grew its stake in U.S. Bancorp by 5.7% during the 3rd quarter. Chase Investment Counsel Corp now owns 10,581 shares of the financial services provider’s stock worth $483,000 after purchasing an additional 575 shares in the last quarter. Finally, Empower Advisory Group LLC raised its position in U.S. Bancorp by 11.3% in the 3rd quarter. Empower Advisory Group LLC now owns 5,625 shares of the financial services provider’s stock valued at $257,000 after purchasing an additional 572 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

About U.S. Bancorp

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.