Jefferies Group Weighs in on U.S. Bancorp’s Q2 2017 Earnings (USB)
U.S. Bancorp (NYSE:USB) – Analysts at Jefferies Group dropped their Q2 2017 earnings estimates for U.S. Bancorp in a report released on Wednesday. Jefferies Group analyst K. Usdin now anticipates that the financial services provider will earn $0.83 per share for the quarter, down from their prior forecast of $0.84. Jefferies Group currently has a “Buy” rating and a $59.00 target price on the stock. Jefferies Group also issued estimates for U.S. Bancorp’s FY2017 earnings at $3.40 EPS and FY2018 earnings at $3.75 EPS.
Other equities research analysts have also recently issued reports about the stock. BidaskClub upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday. Royal Bank Of Canada reissued a “buy” rating and issued a $55.00 price objective on shares of U.S. Bancorp in a research note on Tuesday, April 4th. Rafferty Capital Markets downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $53.00 price target for the company. in a research note on Thursday, April 20th. Zacks Investment Research downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, March 22nd. Finally, Wells Fargo & Company downgraded shares of U.S. Bancorp from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $38.48 to $52.31 in a research report on Thursday, May 4th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $51.56.
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U.S. Bancorp (USB) opened at 52.18 on Friday. The company’s 50 day moving average is $51.68 and its 200-day moving average is $52.36. U.S. Bancorp has a 1-year low of $38.63 and a 1-year high of $56.61. The stock has a market capitalization of $87.94 billion, a PE ratio of 15.81 and a beta of 0.86.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, April 19th. The financial services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.02. U.S. Bancorp had a net margin of 25.86% and a return on equity of 13.99%. The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.27 billion. During the same period in the previous year, the company earned $0.76 EPS. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year.
A number of institutional investors have recently made changes to their positions in USB. SRS Capital Advisors Inc. purchased a new position in shares of U.S. Bancorp during the fourth quarter valued at about $112,000. Glassman Wealth Services purchased a new position in shares of U.S. Bancorp during the fourth quarter valued at about $116,000. Orrstown Financial Services Inc. boosted its position in shares of U.S. Bancorp by 26.9% in the first quarter. Orrstown Financial Services Inc. now owns 2,240 shares of the financial services provider’s stock valued at $116,000 after buying an additional 475 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in shares of U.S. Bancorp during the fourth quarter valued at about $142,000. Finally, Signature Estate & Investment Advisors LLC purchased a new position in shares of U.S. Bancorp during the first quarter valued at about $155,000. 75.51% of the stock is currently owned by institutional investors.
In other U.S. Bancorp news, Vice Chairman Leslie V. Godridge sold 14,192 shares of the business’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $52.18, for a total value of $740,538.56. Following the transaction, the insider now directly owns 62,303 shares of the company’s stock, valued at approximately $3,250,970.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Leslie V. Godridge sold 25,746 shares of the business’s stock in a transaction on Friday, April 21st. The shares were sold at an average price of $50.62, for a total transaction of $1,303,262.52. Following the completion of the transaction, the insider now directly owns 73,857 shares in the company, valued at $3,738,641.34. The disclosure for this sale can be found here. Insiders sold a total of 69,387 shares of company stock worth $3,573,382 over the last three months. 0.39% of the stock is currently owned by corporate insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be paid a $0.28 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $1.12 annualized dividend and a yield of 2.15%. U.S. Bancorp’s dividend payout ratio is currently 33.84%.
About U.S. Bancorp
U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.
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