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

U.S. Bancorp (NYSE:USB) had its price objective boosted by analysts at Evercore ISI from $49.00 to $51.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “in-line” rating on the financial services provider’s stock. Evercore ISI’s price objective suggests a potential upside of 15.96% from the company’s current price.

Other analysts also recently issued research reports about the stock. UBS Group raised their price target on shares of U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Oppenheimer lifted their target price on shares of U.S. Bancorp from $54.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday. The Goldman Sachs Group lowered their price target on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $48.00 price objective on shares of U.S. Bancorp in a report on Friday, September 13th. Finally, DA Davidson increased their target price on U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $48.65.

U.S. Bancorp Price Performance

Shares of USB opened at $43.98 on Wednesday. The company has a market capitalization of $68.63 billion, a P/E ratio of 14.56, a price-to-earnings-growth ratio of 3.06 and a beta of 1.03. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $47.31. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. The firm has a 50 day moving average of $44.49 and a 200 day moving average of $42.45.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The business had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.81 billion. During the same quarter last year, the company earned $1.12 EPS. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. As a group, equities research analysts anticipate that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp announced that its Board of Directors has initiated a stock repurchase plan on Thursday, September 12th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Aleem Gillani acquired 10,000 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was acquired at an average cost of $44.99 per share, with a total value of $449,900.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $449,900. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in USB. Vanguard Group Inc. boosted its stake in U.S. Bancorp by 0.4% during the first quarter. Vanguard Group Inc. now owns 135,371,282 shares of the financial services provider’s stock valued at $6,051,096,000 after buying an additional 502,776 shares during the last quarter. Davis Selected Advisers boosted its position in shares of U.S. Bancorp by 0.3% during the 2nd quarter. Davis Selected Advisers now owns 14,228,444 shares of the financial services provider’s stock valued at $564,869,000 after acquiring an additional 43,437 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of U.S. Bancorp by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 13,312,930 shares of the financial services provider’s stock valued at $528,523,000 after purchasing an additional 94,841 shares in the last quarter. Legal & General Group Plc increased its position in U.S. Bancorp by 2.7% in the second quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider’s stock worth $491,364,000 after purchasing an additional 325,374 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in U.S. Bancorp by 2.9% during the second quarter. Van ECK Associates Corp now owns 9,478,454 shares of the financial services provider’s stock valued at $376,295,000 after purchasing an additional 271,078 shares in the last quarter. Hedge funds and other institutional investors 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.