U.S. Bancorp (NYSE:USB) Price Target Raised to $63.00 at Oppenheimer

U.S. Bancorp (NYSE:USB) had its price objective hoisted by Oppenheimer from $62.00 to $63.00 in a research note released on Friday,Benzinga reports. Oppenheimer currently has an outperform rating on the financial services provider’s stock.

A number of other research analysts also recently weighed in on USB. Wells Fargo & Company raised their price target on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Robert W. Baird set a $54.00 target price on U.S. Bancorp in a research note on Thursday, October 17th. DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $58.00 to $60.00 in a research note on Thursday, January 2nd. Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price for the company in a research note on Monday, January 13th. Finally, Evercore ISI lifted their target price on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $54.21.

U.S. Bancorp Trading Up 0.8 %

NYSE:USB opened at $48.40 on Friday. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98. The business’s 50-day moving average price is $50.22 and its two-hundred day moving average price is $46.72. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $75.50 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 2.47 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. During the same quarter last year, the firm posted $0.99 earnings per share. U.S. Bancorp’s revenue was up 3.7% compared to the same quarter last year. On average, equities analysts expect that U.S. Bancorp will post 3.91 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.13%. U.S. Bancorp’s dividend payout ratio is currently 61.16%.

Institutional Investors Weigh In On U.S. Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Natixis Advisors LLC grew its position in U.S. Bancorp by 16.6% during the 3rd quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock worth $18,348,000 after acquiring an additional 56,990 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of U.S. Bancorp in the 4th quarter valued at about $1,018,000. M&T Bank Corp grew its position in shares of U.S. Bancorp by 2.8% in the 3rd quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock valued at $38,704,000 after buying an additional 22,803 shares during the last quarter. Hilltop Holdings Inc. grew its position in shares of U.S. Bancorp by 184.3% in the 3rd quarter. Hilltop Holdings Inc. now owns 70,283 shares of the financial services provider’s stock valued at $3,214,000 after buying an additional 45,560 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. grew its position in shares of U.S. Bancorp by 544.1% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 13,894 shares of the financial services provider’s stock valued at $635,000 after buying an additional 11,737 shares during the last quarter. 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.