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

by · The Cerbat Gem

U.S. Bancorp (NYSE:USB – Get Free Report) had its price objective boosted by stock analysts at Oppenheimer from $73.00 to $74.00 in a report released on Monday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Oppenheimer‘s price objective would indicate a potential upside of 22.54% from the stock’s current price.

Several other brokerages have also recently commented on USB. Jefferies Financial Group upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and boosted their price target for the stock from $60.00 to $75.00 in a research note on Monday, July 6th. JPMorgan Chase & Co. lifted their target price on U.S. Bancorp from $65.00 to $65.50 and gave the stock a “neutral” rating in a report on Friday. Royal Bank Of Canada decreased their price objective on U.S. Bancorp from $68.00 to $65.00 and set an “outperform” rating on the stock in a report on Friday, October 16th. BTIG Research set a $67.50 target price on U.S. Bancorp in a research report on Monday, July 20th. Finally, Raymond James Financial cut their target price on shares of U.S. Bancorp from $74.00 to $72.00 and set a “strong-buy” rating for the company in a report on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $69.26.

Get Our Latest Stock Analysis on U.S. Bancorp

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock traded up $0.94 during trading hours on Monday, hitting $60.39. The company’s stock had a trading volume of 1,715,788 shares, compared to its average volume of 9,096,336. The company has a market cap of $94.08 billion, a PE ratio of 11.78, a PEG ratio of 1.13 and a beta of 1.02. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.83 and a current ratio of 0.83. The business has a 50 day moving average price of $59.88 and a two-hundred day moving average price of $58.03. U.S. Bancorp has a 12-month low of $45.02 and a 12-month high of $66.07.

U.S. Bancorp (NYSE:USB – Get Free Report) last announced its quarterly earnings data on Thursday, October 15th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.02. U.S. Bancorp had a net margin of 18.85% and a return on equity of 13.85%. The business had revenue of $8.04 billion during the quarter, compared to analyst estimates of $8 billion. During the same period last year, the firm posted $1.22 EPS. The company’s revenue was up 8.7% on a year-over-year basis. Analysts expect that U.S. Bancorp will post 5.30 earnings per share for the current fiscal year.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp 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 transaction 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 document filed with the SEC, which is available through the SEC website. 0.21% of the stock is currently owned by company insiders.

Institutional Trading of U.S. Bancorp

Institutional investors have recently modified their holdings of the company. Archer Investment Corp acquired a new position in shares of U.S. Bancorp during the second quarter valued at about $29,000. Parvin Asset Management LLC purchased a new stake in shares of U.S. Bancorp during the 2nd quarter valued at approximately $30,000. Main Street Group LTD purchased a new position in U.S. Bancorp during the 1st quarter valued at about $28,000. John Boyer Inc. acquired a new position in U.S. Bancorp during the 3rd quarter worth approximately $34,000. Finally, NFSG Corp acquired a new position in U.S. Bancorp in the first quarter valued at approximately $31,000. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Company Profile

(Get Free Report)

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.

See Also