U.S. Bancorp (NYSE:USB) Stock Price Expected to Rise, Oppenheimer Analyst Says

U.S. Bancorp (NYSE:USB) had its price objective increased by analysts at Oppenheimer from $73.00 to $77.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Oppenheimer’s target price points to a potential upside of 21.96% from the stock’s previous close.

Several other research firms have also recently commented on USB. Robert W. Baird boosted their price objective on shares of U.S. Bancorp from $64.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday. Morgan Stanley increased their price objective on U.S. Bancorp from $64.00 to $67.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Weiss Ratings upgraded shares of U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Wall Street Zen raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, July 6th. Finally, Barclays boosted their price objective on U.S. Bancorp from $67.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $66.52.

U.S. Bancorp Stock Down 1.4%

U.S. Bancorp stock opened at $63.14 on Friday. The company’s 50 day simple moving average is $57.89 and its 200 day simple moving average is $56.08. The firm has a market capitalization of $97.93 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 1.08 and a beta of 0.96. U.S. Bancorp has a fifty-two week low of $43.46 and a fifty-two week high of $64.84. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The company had revenue of $7.71 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same quarter in the previous year, the business earned $1.11 EPS. As a group, sell-side analysts anticipate that U.S. Bancorp will post 5.18 EPS for the current year.

Insider Activity at U.S. Bancorp

In related news, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the sale, the insider owned 207,251 shares in the company, valued at approximately $11,813,307. This trade represents a 16.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the transaction, the executive vice president directly owned 51,292 shares in the company, valued at $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by insiders.

Institutional Investors Weigh In On U.S. Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of U.S. Bancorp by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider’s stock valued at $7,810,665,000 after purchasing an additional 1,828,404 shares during the last quarter. State Street Corp raised its holdings in shares of U.S. Bancorp by 0.8% during the 4th quarter. State Street Corp now owns 69,701,898 shares of the financial services provider’s stock worth $3,755,083,000 after buying an additional 522,368 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of U.S. Bancorp by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 37,679,617 shares of the financial services provider’s stock worth $2,002,518,000 after buying an additional 443,646 shares during the last quarter. Norges Bank bought a new stake in shares of U.S. Bancorp during the 4th quarter worth $1,887,497,000. Finally, Auto Owners Insurance Co boosted its stake in U.S. Bancorp by 5,236.0% in the fourth quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock valued at $1,779,556,000 after buying an additional 32,725,000 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp News Summary

Here are the key news stories impacting U.S. Bancorp this week:

• Positive Sentiment: U.S. Bancorp posted Q2 earnings of $1.35 per share on revenue of $7.71 billion, both above estimates, with record quarterly revenue driven by loan growth, fee income, and a boost from its BTIG acquisition. U.S. Bancorp Q2 Earnings Beat Estimates on NII & Fee Revenue Growth
• Positive Sentiment: Management raised full-year revenue guidance to a 7% to 9% growth range, signaling confidence that momentum from higher net interest income and fee revenue will continue. Is USB’s Stronger Outlook And BTIG Fee Push Altering The Investment Case For U.S. Bancorp (USB)?
• Positive Sentiment: Several firms lifted price targets after the earnings release, including Oppenheimer, Wells Fargo, Truist, RBC, and Baird, reflecting improved sentiment around USB’s outlook. US Bancorp analysts boost their forecasts after upbeat Q2 results

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.