U.S. Bancorp Forecasted to Post Q3 2017 Earnings of $0.89 Per Share (USB)
U.S. Bancorp (NYSE:USB) – Research analysts at Jefferies Group increased their Q3 2017 EPS estimates for U.S. Bancorp in a report released on Wednesday. Jefferies Group analyst K. Usdin now expects that the financial services provider will post earnings of $0.89 per share for the quarter, up from their previous estimate of $0.88. Jefferies Group has a “Buy” rating and a $59.00 price objective on the stock. Jefferies Group also issued estimates for U.S. Bancorp’s Q4 2017 earnings at $0.90 EPS and FY2017 earnings at $3.45 EPS.
Other analysts have also recently issued research reports about the company. Wells Fargo & Company cut U.S. Bancorp from an “outperform” rating to a “market perform” rating and raised their target price 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. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $55.00 target price on shares of U.S. Bancorp in a research report on Tuesday, April 4th. BidaskClub raised U.S. Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Argus raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Thursday. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. U.S. Bancorp presently has an average rating of “Hold” and a consensus target price of $52.56.
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U.S. Bancorp (NYSE:USB) opened at 52.12 on Monday. The firm has a market capitalization of $87.51 billion, a price-to-earnings ratio of 15.75 and a beta of 0.86. U.S. Bancorp has a 1-year low of $41.12 and a 1-year high of $56.61. The company has a 50-day moving average price of $51.99 and a 200 day moving average price of $52.38.
U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, July 19th. The financial services provider reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.01. The firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.46 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.82 earnings per share.
U.S. Bancorp declared that its board has authorized a stock buyback plan on Wednesday, June 28th that authorizes the company to buyback $2.60 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were issued 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 dividend yield of 2.15%. U.S. Bancorp’s dividend payout ratio is 33.63%.
In related news, Vice Chairman P.W. Parker sold 29,449 shares of the stock in a transaction on Tuesday, May 16th. The stock was 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 filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Leslie V. Godridge sold 14,192 shares of the stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $52.18, for a total value 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. 0.39% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in the company. Orrstown Financial Services Inc. raised its position in 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 during the period. SRS Capital Advisors Inc. raised its position in U.S. Bancorp by 17.0% in the first quarter. SRS Capital Advisors Inc. now owns 2,547 shares of the financial services provider’s stock valued at $131,000 after buying an additional 371 shares during the period. Signature Estate & Investment Advisors LLC bought a new position in U.S. Bancorp during the first quarter valued at $155,000. WealthTrust Arizona LLC raised its position in U.S. Bancorp by 31.8% in the first quarter. WealthTrust Arizona LLC now owns 3,033 shares of the financial services provider’s stock valued at $156,000 after buying an additional 732 shares during the period. Finally, American National Bank bought a new position in U.S. Bancorp during the first quarter valued at $167,000. Institutional investors and hedge funds own 75.54% of the company’s stock.
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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