U.S. Bancorp (NYSE:USB) Price Target Raised to $66.00 at Oppenheimer

U.S. Bancorp (NYSE:USB - Get Free Report) had its target price raised by stock analysts at Oppenheimer from $65.00 to $66.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the financial services provider's stock. Oppenheimer's price target suggests a potential upside of 45.28% from the company's previous close.

Other equities research analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods cut their price target on U.S. Bancorp from $54.00 to $49.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Royal Bank Of Canada lowered their price objective on shares of U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Wells Fargo & Company lowered their price objective on shares of U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. The Goldman Sachs Group raised their price objective on shares of U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. Finally, Cowen initiated coverage on shares of U.S. Bancorp in a research report on Wednesday, May 14th. They issued a "buy" rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $52.07.

U.S. Bancorp Stock Performance

NYSE USB traded up $0.22 during trading hours on Friday, reaching $45.43. The company's stock had a trading volume of 1,188,504 shares, compared to its average volume of 9,469,413. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The business has a 50-day simple moving average of $44.74 and a 200 day simple moving average of $44.31. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The stock has a market cap of $70.78 billion, a PE ratio of 11.23, a PEG ratio of 1.76 and a beta of 0.99.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.04. The company had revenue of $7.06 billion for the quarter, compared to analysts' expectations of $7.07 billion. U.S. Bancorp had a return on equity of 13.02% and a net margin of 15.70%. The business's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 earnings per share. Equities research analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Aleem Gillani bought 5,000 shares of the business's stock in a transaction on Monday, April 21st. The stock was purchased at an average price of $37.32 per share, with a total value of $186,600.00. Following the transaction, the director directly owned 15,000 shares in the company, valued at approximately $559,800. The trade was a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.23% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in USB. Norges Bank bought a new position in shares of U.S. Bancorp during the 4th quarter worth about $777,524,000. Invesco Ltd. increased its holdings in shares of U.S. Bancorp by 48.1% during the 4th quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider's stock worth $802,947,000 after purchasing an additional 5,449,949 shares during the period. Marshall Wace LLP increased its holdings in shares of U.S. Bancorp by 414.1% during the 4th quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider's stock worth $276,915,000 after purchasing an additional 4,663,518 shares during the period. Nuveen LLC bought a new position in shares of U.S. Bancorp during the 1st quarter worth about $138,183,000. Finally, FMR LLC increased its holdings in shares of U.S. Bancorp by 5.0% during the 4th quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock worth $3,210,624,000 after purchasing an additional 3,211,815 shares during the period. 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.

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