Oppenheimer Trims U.S. Bancorp (NYSE:USB) Target Price to $54.00

U.S. Bancorp (NYSE:USB) had its target price trimmed by Oppenheimer from $55.00 to $54.00 in a report issued on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

Other equities research analysts have also issued reports about the stock. TheStreet raised shares of U.S. Bancorp from a c+ rating to a b- rating in a research note on Tuesday, December 26th. Jefferies Financial Group upped their price objective on shares of U.S. Bancorp from $44.00 to $46.00 and gave the company a hold rating in a research note on Monday, April 8th. Stephens lowered shares of U.S. Bancorp from an overweight rating to an equal weight rating in a research note on Wednesday, December 20th. Compass Point raised shares of U.S. Bancorp from a neutral rating to a buy rating and upped their price objective for the company from $46.00 to $49.00 in a research note on Friday, March 22nd. Finally, Barclays upped their price objective on shares of U.S. Bancorp from $48.00 to $56.00 and gave the company an overweight rating in a research note on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $46.91.

U.S. Bancorp Trading Down 0.2 %

Shares of NYSE USB opened at $39.44 on Thursday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82. U.S. Bancorp has a 52-week low of $27.27 and a 52-week high of $45.85. The firm has a 50 day moving average price of $42.31 and a two-hundred day moving average price of $39.72. The stock has a market cap of $61.45 billion, a P/E ratio of 13.06, a price-to-earnings-growth ratio of 2.04 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The firm had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same period in the prior year, the company posted $1.16 EPS. The company’s revenue was down 6.4% on a year-over-year basis. As a group, equities analysts forecast that U.S. Bancorp will post 3.87 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a $0.49 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.97%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 64.90%.

Insider Activity

In other news, insider Terrance R. Dolan sold 26,583 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total value of $1,152,904.71. Following the completion of the transaction, the insider now directly owns 144,236 shares in the company, valued at $6,255,515.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of U.S. Bancorp stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $41.47, for a total transaction of $895,005.54. Following the completion of the sale, the executive vice president now directly owns 164,880 shares in the company, valued at $6,837,573.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Terrance R. Dolan sold 26,583 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the sale, the insider now owns 144,236 shares of the company’s stock, valued at $6,255,515.32. The disclosure for this sale can be found here. 0.23% of the stock is owned by company insiders.

Institutional Investors Weigh In On U.S. Bancorp

Several hedge funds have recently bought and sold shares of USB. Moneta Group Investment Advisors LLC lifted its position in U.S. Bancorp by 130,768.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 60,273,882 shares of the financial services provider’s stock valued at $2,628,544,000 after purchasing an additional 60,227,825 shares during the last quarter. Mufg Bank LTD. raised its stake in shares of U.S. Bancorp by 54.1% during the third quarter. Mufg Bank LTD. now owns 68,374,155 shares of the financial services provider’s stock worth $2,260,450,000 after acquiring an additional 24,000,000 shares in the last quarter. Norges Bank purchased a new position in shares of U.S. Bancorp during the fourth quarter worth approximately $827,370,000. Aristotle Capital Management LLC raised its stake in shares of U.S. Bancorp by 266.6% during the third quarter. Aristotle Capital Management LLC now owns 23,467,699 shares of the financial services provider’s stock worth $775,842,000 after acquiring an additional 17,066,479 shares in the last quarter. Finally, Viking Global Investors LP purchased a new position in shares of U.S. Bancorp during the fourth quarter worth approximately $414,174,000. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Company Profile

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.