U.S. Bancorp (NYSE:USB) Price Target Lowered to $62.00 at Oppenheimer

U.S. Bancorp (NYSE:USB) had its price target trimmed by Oppenheimer from $66.00 to $62.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

Several other equities analysts have also weighed in on USB. Wells Fargo & Company raised their price objective on shares of U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Citigroup raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $49.00 to $65.00 in a research note on Monday, November 25th. DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their target price for the company from $58.00 to $60.00 in a report on Thursday. Compass Point increased their price objective on U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Barclays boosted their target price on U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average price target of $53.88.

U.S. Bancorp Stock Performance

Shares of USB opened at $48.86 on Friday. The company has a market capitalization of $76.22 billion, a PE ratio of 14.94, a PEG ratio of 3.03 and a beta of 1.03. 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’s 50 day moving average price is $50.17 and its 200 day moving average price is $46.09. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results 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. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The business had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same period in the previous year, the company posted $1.05 EPS. U.S. Bancorp’s revenue was down 2.4% on a year-over-year basis. Research analysts expect that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp announced that its board has authorized a share buyback plan 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 buy up to 7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend is Tuesday, December 31st. U.S. Bancorp’s payout ratio is 61.16%.

Insider Buying and Selling

In other news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the sale, the insider now owns 129,790 shares in the company, valued at approximately $6,363,603.70. The trade was a 16.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.23% of the company’s stock.

Institutional Trading of U.S. Bancorp

Several large investors have recently added to or reduced their stakes in the company. Redwood Wealth Management Group LLC bought a new stake in U.S. Bancorp during the 2nd quarter worth approximately $25,000. Frazier Financial Advisors LLC grew its holdings in shares of U.S. Bancorp by 222.7% during the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 441 shares during the last quarter. Global Wealth Strategies & Associates grew its holdings in shares of U.S. Bancorp by 70.8% during the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 250 shares during the last quarter. Y.D. More Investments Ltd acquired a new stake in shares of U.S. Bancorp in the second quarter valued at $33,000. Finally, Kimelman & Baird LLC bought a new position in shares of U.S. Bancorp in the second quarter valued at about $40,000. 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.