U.S. Bancorp (NYSE:USB) Price Target Raised to $51.00

U.S. Bancorp (NYSE:USB) had its price target increased by stock analysts at Evercore ISI from $49.00 to $51.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “in-line” rating on the financial services provider’s stock. Evercore ISI’s price target would indicate a potential upside of 14.58% from the stock’s current price.

A number of other equities analysts have also recently commented on USB. DA Davidson boosted their price target on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. UBS Group increased their target price on U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $54.00 to $57.00 in a research report on Monday. Wells Fargo & Company upped their price objective on U.S. Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Finally, Oppenheimer upped their price objective on shares of U.S. Bancorp from $54.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $48.65.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock traded up $0.05 during trading hours on Wednesday, hitting $44.51. 829,443 shares of the company’s stock traded hands, compared to its average volume of 8,303,420. U.S. Bancorp has a 12-month low of $30.47 and a 12-month high of $47.31. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. The company has a fifty day simple moving average of $44.52 and a 200-day simple moving average of $42.42. The stock has a market capitalization of $69.46 billion, a price-to-earnings ratio of 14.74, a PEG 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 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. The company had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. U.S. Bancorp’s revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.12 EPS. Equities research analysts anticipate that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp declared that its Board of Directors has initiated a share repurchase plan on Thursday, September 12th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other U.S. Bancorp news, Director Aleem Gillani bought 10,000 shares of the stock in a transaction dated Thursday, July 18th. The stock was purchased at an average cost of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $449,900. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.23% of the stock is currently owned by insiders.

Institutional Trading of U.S. Bancorp

Large investors have recently modified their holdings of the company. Redwood Wealth Management Group LLC purchased a new stake in U.S. Bancorp in the second quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. bought a new stake in U.S. Bancorp in the 1st quarter valued at $30,000. 1620 Investment Advisors Inc. purchased a new stake in U.S. Bancorp in the 2nd quarter worth $30,000. Eagle Bay Advisors LLC grew its position in shares of U.S. Bancorp by 93.2% during the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 331 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in shares of U.S. Bancorp in the first quarter worth about $31,000. 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.