U.S. Bancorp (NYSE:USB) Price Target Raised to $74.00

U.S. Bancorp (NYSE:USB) had its target price raised by stock analysts at Oppenheimer from $73.00 to $74.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Oppenheimer‘s price objective indicates a potential upside of 22.54% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Royal Bank Of Canada reduced their target price on U.S. Bancorp from $68.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, October 16th. BTIG Research set a $67.50 price target on shares of U.S. Bancorp in a report on Monday, July 20th. Keefe, Bruyette & Woods boosted their price objective on shares of U.S. Bancorp from $63.00 to $66.00 and gave the company a “market perform” rating in a research report on Friday, July 17th. Morgan Stanley set a $68.00 price objective on shares of U.S. Bancorp in a report on Friday, October 16th. Finally, TD Cowen initiated coverage on shares of U.S. Bancorp in a research report on Thursday, October 8th. They issued a “buy” rating and a $70.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $69.26.

U.S. Bancorp Stock Performance

Shares of NYSE USB traded up $0.94 during mid-day trading on Monday, hitting $60.39. The company had a trading volume of 1,715,788 shares, compared to its average volume of 9,096,336. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.87. U.S. Bancorp has a 1 year low of $45.02 and a 1 year high of $66.07. The company has a market capitalization of $94.08 billion, a price-to-earnings ratio of 11.78, a P/E/G ratio of 1.13 and a beta of 1.02. The stock’s 50-day moving average price is $59.88 and its 200-day moving average price is $58.03.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, October 15th. The financial services provider reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.02. The company had revenue of $8.04 billion for the quarter, compared to analysts’ expectations of $8 billion. U.S. Bancorp had a net margin of 18.85% and a return on equity of 13.85%. U.S. Bancorp’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.22 earnings per share. On average, sell-side analysts forecast that U.S. Bancorp will post 5.30 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Gunjan Kedia sold 27,267 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $62.37, for a total value of $1,700,642.79. Following the transaction, the chief executive officer directly owned 426,262 shares in the company, valued at $26,585,960.94. This trade represents a 6.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On U.S. Bancorp

Large investors have recently made changes to their positions in the company. Mufg Bank LTD. bought a new position in shares of U.S. Bancorp in the second quarter worth about $2,680,199,000. Bank of America Corp DE increased its holdings in U.S. Bancorp by 6.9% in the 1st quarter. Bank of America Corp DE now owns 15,820,033 shares of the financial services provider’s stock worth $822,800,000 after acquiring an additional 1,022,898 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in U.S. Bancorp by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock worth $539,232,000 after acquiring an additional 93,025 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in U.S. Bancorp during the 2nd quarter worth approximately $536,457,000. Finally, First Trust Advisors LP boosted its position in shares of U.S. Bancorp by 39.9% in the first quarter. First Trust Advisors LP now owns 8,118,845 shares of the financial services provider’s stock worth $422,261,000 after purchasing an additional 2,314,081 shares during the period. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. U.S. Bank provides banking, lending, payment, investment and wealth-management services to individuals, businesses, institutions and government entities.

The company’s consumer and business banking operations offer deposit accounts, mortgages, home-equity and consumer loans, credit cards, small-business banking and commercial lending.