U.S. Bancorp (NYSE:USB) Price Target Raised to $57.00

U.S. Bancorp (NYSE:USB) had its price target lifted by equities researchers at Barclays from $52.00 to $57.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target would indicate a potential upside of 14.39% from the company’s current price.

Several other analysts have also recently issued reports on USB. JPMorgan Chase & Co. cut shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price on the stock. in a research note on Thursday, June 27th. Royal Bank of Canada reissued an “outperform” rating and set a $48.00 price objective on shares of U.S. Bancorp in a research note on Friday, September 13th. Oppenheimer upped their target price on U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a research note on Thursday. StockNews.com upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Jefferies Financial Group decreased their price objective on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $49.65.

U.S. Bancorp Stock Performance

U.S. Bancorp stock traded up $0.62 during midday trading on Thursday, reaching $49.83. The stock had a trading volume of 4,242,777 shares, compared to its average volume of 8,320,956. 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 market capitalization of $77.76 billion, a PE ratio of 16.50, a P/E/G ratio of 3.32 and a beta of 1.03. U.S. Bancorp has a 12 month low of $30.47 and a 12 month high of $50.11. The firm’s 50-day moving average price is $44.94 and its 200 day moving average price is $42.58.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.99 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 $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter last year, the company earned $1.05 EPS. The firm’s revenue was down 2.4% compared to the same quarter last year. As a group, research analysts predict that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp declared that its Board of Directors has approved a stock buyback program on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On U.S. Bancorp

A number of large investors have recently modified their holdings of the stock. Redwood Wealth Management Group LLC purchased a new stake in U.S. Bancorp in the second quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. bought a new position in shares of U.S. Bancorp in the 1st quarter worth approximately $30,000. LRI Investments LLC purchased a new position in shares of U.S. Bancorp in the 1st quarter valued at approximately $31,000. Eagle Bay Advisors LLC boosted its position in shares of U.S. Bancorp by 93.2% during the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 331 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of U.S. Bancorp during the second quarter valued at approximately $30,000. 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.