Oppenheimer Issues Positive Forecast for U.S. Bancorp (NYSE:USB) Stock Price

U.S. Bancorp (NYSE:USB) had its target price lifted by Oppenheimer from $73.00 to $77.00 in a research report released on Friday morning,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

A number of other equities analysts also recently commented on USB. Keefe, Bruyette & Woods upped their target price on U.S. Bancorp from $63.00 to $66.00 and gave the company a “market perform” rating in a report on Friday. Robert W. Baird lifted their price target on shares of U.S. Bancorp from $64.00 to $68.00 and gave the company a “neutral” rating in a report on Friday. DA Davidson boosted their price objective on shares of U.S. Bancorp from $72.00 to $74.00 and gave the company a “buy” rating in a research report on Friday. Wells Fargo & Company upped their price objective on shares of U.S. Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday. Finally, JPMorgan Chase & Co. upped their target price on U.S. Bancorp from $57.50 to $65.00 and gave the stock an “underweight” rating in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $66.52.

U.S. Bancorp Stock Down 1.4%

NYSE USB opened at $63.14 on Friday. U.S. Bancorp has a 1 year low of $43.46 and a 1 year high of $64.84. The stock has a market capitalization of $97.93 billion, a PE ratio of 12.60, a PEG ratio of 1.10 and a beta of 0.96. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.81. The business’s 50-day moving average is $57.89 and its 200 day moving average is $56.08.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.07. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.The business had revenue of $7.71 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same quarter in the prior year, the company posted $1.11 EPS. Sell-side analysts forecast that U.S. Bancorp will post 5.12 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, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 43.61%.

Insider Activity

In other news, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the transaction, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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. The trade was a 16.18% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by insiders.

Institutional Trading of U.S. Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dogwood Wealth Management LLC raised its position in U.S. Bancorp by 32.9% in the second quarter. Dogwood Wealth Management LLC now owns 687 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 170 shares during the last quarter. Paulson Wealth Management Inc. raised its holdings in U.S. Bancorp by 2.0% during the 4th quarter. Paulson Wealth Management Inc. now owns 8,780 shares of the financial services provider’s stock worth $469,000 after purchasing an additional 173 shares during the last quarter. Gilbert & Cook Inc. lifted its stake in shares of U.S. Bancorp by 1.2% in the 4th quarter. Gilbert & Cook Inc. now owns 15,590 shares of the financial services provider’s stock valued at $832,000 after purchasing an additional 184 shares during the period. Flputnam Investment Management Co. boosted its position in shares of U.S. Bancorp by 1.4% during the 4th quarter. Flputnam Investment Management Co. now owns 13,721 shares of the financial services provider’s stock valued at $732,000 after purchasing an additional 186 shares in the last quarter. Finally, Formidable Asset Management LLC boosted its stake in U.S. Bancorp by 0.8% during the first quarter. Formidable Asset Management LLC now owns 23,373 shares of the financial services provider’s stock worth $1,247,000 after acquiring an additional 186 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Key U.S. Bancorp News

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

About U.S. Bancorp

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.