Q4 2017 EPS Estimates for U.S. Bancorp (NYSE:USB) Raised by Oppenheimer Holdings
U.S. Bancorp (NYSE:USB) – Research analysts at Oppenheimer Holdings raised their Q4 2017 earnings per share estimates for shares of U.S. Bancorp in a research report issued on Wednesday. Oppenheimer Holdings analyst B. Chittenden now expects that the financial services provider will earn $0.88 per share for the quarter, up from their previous estimate of $0.87. Oppenheimer Holdings has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for U.S. Bancorp’s FY2018 earnings at $3.78 EPS.
Several other brokerages also recently issued reports on USB. Wells Fargo & Company downgraded shares of U.S. Bancorp from an “outperform” rating to a “market perform” rating and raised their target price for the company from $38.48 to $52.31 in a research note on Thursday, May 4th. They noted that the move was a valuation call. Royal Bank Of Canada reiterated a “buy” rating and issued a $55.00 target price on shares of U.S. Bancorp in a research note on Tuesday, April 4th. BidaskClub upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Jefferies Group LLC reiterated a “buy” rating and issued a $59.00 target price on shares of U.S. Bancorp in a research note on Friday, June 9th. Finally, Argus upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $52.56.
U.S. Bancorp (NYSE USB) traded down 0.810% during trading on Friday, hitting $52.055. The company had a trading volume of 3,238,462 shares. U.S. Bancorp has a one year low of $41.13 and a one year high of $56.61. The stock has a market capitalization of $87.73 billion, a PE ratio of 15.769 and a beta of 0.86. The stock has a 50-day moving average of $51.99 and a 200-day moving average of $52.38.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.01. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. During the same quarter in the previous year, the firm earned $0.82 EPS. The firm’s revenue was up .7% compared to the same quarter last year.
Several large investors have recently added to or reduced their stakes in the stock. United Capital Financial Advisers LLC increased its stake in U.S. Bancorp by 14.2% in the fourth quarter. United Capital Financial Advisers LLC now owns 148,309 shares of the financial services provider’s stock worth $7,619,000 after buying an additional 18,496 shares during the last quarter. Cigna Investments Inc. New acquired a new stake in U.S. Bancorp during the fourth quarter worth $3,046,000. L & S Advisors Inc acquired a new stake in U.S. Bancorp during the fourth quarter worth $7,238,000. Horizon Kinetics LLC acquired a new stake in U.S. Bancorp during the fourth quarter worth $423,000. Finally, Ladenburg Thalmann Financial Services Inc. increased its stake in U.S. Bancorp by 15.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 209,248 shares of the financial services provider’s stock worth $10,685,000 after buying an additional 28,415 shares during the last quarter. Institutional investors own 75.54% of the company’s stock.
In other U.S. Bancorp news, Vice Chairman P.W. Parker sold 29,449 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $51.94, for a total transaction of $1,529,581.06. Following the completion of the sale, the insider now directly owns 307,698 shares in the company, valued at $15,981,834.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Leslie V. Godridge sold 14,192 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $52.18, for a total transaction of $740,538.56. Following the sale, the insider now owns 62,303 shares of the company’s stock, valued at $3,250,970.54. The disclosure for this sale can be found here. Company insiders own 0.39% of the company’s stock.
U.S. Bancorp announced that its board has authorized a share repurchase plan on Wednesday, June 28th that allows the company to repurchase $2.60 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.12 annualized dividend and a yield of 2.13%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 33.63%.
U.S. Bancorp Company Profile
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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