U.S. Bancorp (USB) Price Target Raised to $62.00 at Oppenheimer
U.S. Bancorp (NYSE:USB) had its price target raised by Oppenheimer from $58.00 to $62.00 in a report released on Tuesday. Oppenheimer currently has an outperform rating on the financial services provider’s stock.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research restated a hold rating on shares of U.S. Bancorp in a research report on Monday, December 31st. Barclays raised their target price on U.S. Bancorp from $61.00 to $64.00 and gave the company an overweight rating in a research report on Wednesday, January 2nd. Robert W. Baird downgraded U.S. Bancorp from an outperform rating to a neutral rating and set a $51.00 target price on the stock. in a research report on Monday, January 28th. Jefferies Financial Group downgraded U.S. Bancorp from a buy rating to a hold rating in a research report on Tuesday, January 8th. Finally, Standpoint Research downgraded U.S. Bancorp from a buy rating to a hold rating and raised their target price for the company from $54.16 to $63.00 in a research report on Monday, November 26th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company’s stock. U.S. Bancorp currently has a consensus rating of Hold and a consensus price target of $58.00.
Shares of USB opened at $48.51 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.91. U.S. Bancorp has a 12 month low of $43.14 and a 12 month high of $55.56. The company has a market capitalization of $77.26 billion, a price-to-earnings ratio of 11.83, a price-to-earnings-growth ratio of 1.59 and a beta of 1.08.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be given a dividend of $0.37 per share. The ex-dividend date is Thursday, March 28th. This represents a $1.48 dividend on an annualized basis and a yield of 3.05%. U.S. Bancorp’s payout ratio is 36.10%.
In related news, Vice Chairman Leslie V. Godridge sold 14,737 shares of U.S. Bancorp stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $51.50, for a total transaction of $758,955.50. Following the transaction, the insider now owns 61,737 shares in the company, valued at $3,179,455.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.24% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc lifted its position in U.S. Bancorp by 5.7% during the fourth quarter. Legal & General Group Plc now owns 7,419,203 shares of the financial services provider’s stock worth $339,026,000 after buying an additional 399,480 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in U.S. Bancorp in the fourth quarter valued at $5,148,000. Veritable L.P. raised its position in U.S. Bancorp by 1.9% in the third quarter. Veritable L.P. now owns 130,364 shares of the financial services provider’s stock valued at $6,885,000 after purchasing an additional 2,418 shares during the period. Legacy Financial Advisors Inc. raised its position in U.S. Bancorp by 0.5% in the fourth quarter. Legacy Financial Advisors Inc. now owns 49,316 shares of the financial services provider’s stock valued at $2,254,000 after purchasing an additional 243 shares during the period. Finally, Moody National Bank Trust Division raised its position in U.S. Bancorp by 0.9% in the fourth quarter. Moody National Bank Trust Division now owns 283,151 shares of the financial services provider’s stock valued at $12,940,000 after purchasing an additional 2,653 shares during the period. Hedge funds and other institutional investors own 75.81% of the company’s stock.
About U.S. Bancorp
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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