U.S. Bancorp (NYSE:USB) Price Target Raised to $62.00

U.S. Bancorp (NYSE:USB) had its price target raised by equities researchers at Wells Fargo & Company from $60.00 to $62.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target points to a potential upside of 23.21% from the company’s current price.

USB has been the topic of a number of other reports. UBS Group lifted their price objective on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Robert W. Baird set a $54.00 price objective on U.S. Bancorp in a research report on Thursday, October 17th. The Goldman Sachs Group dropped their target price on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $54.00 to $57.00 in a report on Monday, September 30th. Finally, Barclays increased their target price on shares of U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Thirteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, U.S. Bancorp presently has an average rating of “Hold” and a consensus target price of $51.22.

U.S. Bancorp Stock Down 1.7 %

USB opened at $50.32 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $78.50 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 3.02 and a beta of 1.02. The business has a 50-day moving average of $46.79 and a 200-day moving average of $43.58. U.S. Bancorp has a fifty-two week low of $36.21 and a fifty-two week high of $51.76.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. The business had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The firm’s revenue was down 2.4% compared to the same quarter last year. During the same period last year, the business earned $1.05 EPS. Equities research analysts forecast that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp announced that its Board of Directors has authorized a share repurchase plan on Thursday, September 12th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the sale, the insider now directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.23% of the stock is owned by insiders.

Institutional Trading of U.S. Bancorp

Several hedge funds have recently added to or reduced their stakes in the business. FMR LLC increased its holdings in shares of U.S. Bancorp by 32.7% in the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock worth $2,922,784,000 after acquiring an additional 15,746,852 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in U.S. Bancorp by 723.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider’s stock worth $146,864,000 after purchasing an additional 2,821,642 shares in the last quarter. Marshall Wace LLP raised its holdings in U.S. Bancorp by 1,438.4% during the 2nd quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider’s stock worth $89,853,000 after buying an additional 2,116,175 shares during the period. National Bank of Canada FI lifted its stake in U.S. Bancorp by 313.8% in the second quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock valued at $105,903,000 after buying an additional 2,046,522 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of U.S. Bancorp by 109.7% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,531,400 shares of the financial services provider’s stock valued at $161,491,000 after buying an additional 1,847,000 shares during the period. Institutional investors and hedge funds 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.