Oppenheimer Maintains Their Buy Rating on US Bancorp (USB)

In a report released today, Chris Kotowski from Oppenheimer maintained a Buy rating on US Bancorp (USB), with a price target of $54. The company’s shares opened today at $48.97.

Kotowski said:

“For fourth-quarter 2018, USB reported earnings of $1.10 with special items of ~$0.03 per share, leading to core EPS of $1.07 that was a penny ahead of both our estimate and consensus’ $1.06. The company again delivered positive operating leverage in the quarter, as we mentioned in our upgrade note on October 17, 2018 (at $50.97), USB has re-established positive operating leverage since 2Q18, and we expect it will continue to do so. In fact, the management guided to 100-150 bps positive operating leverage for full-year 2019, driven by both revenue growth and expense control. We viewed it as a strong sign that the company has multiple levers to pull to achieve this target.”

According to TipRanks.com, Kotowski is a 5-star analyst with an average return of 8.8% and a 59.0% success rate. Kotowski covers the Financial sector, focusing on stocks such as Eagle Point Credit Company Inc, Great Elm Capital Corporation, and Fidus Investment Corporation.

US Bancorp has an analyst consensus of Hold, with a price target consensus of $56.33, which is a 15.0% upside from current levels. In a report issued on January 2, Barclays also maintained a Buy rating on the stock with a $64 price target.

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The company has a one-year high of $58.50 and a one-year low of $43.14. Currently, US Bancorp has an average volume of 8.87M.

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U.S. Bancorp operates as a bank holding company, which through its subsidiary provides banking services. It offers financial services, including lending and depository services, cash management, foreign exchange and trust and investment management.