Q4 2017 EPS Estimates for U.S. Bancorp (USB) Reduced by Analyst
U.S. Bancorp (NYSE:USB) – Equities research analysts at Jefferies Group dropped their Q4 2017 earnings per share estimates for shares of U.S. Bancorp in a research note issued on Tuesday. Jefferies Group analyst K. Usdin now forecasts that the financial services provider will post earnings of $0.89 per share for the quarter, down from their previous forecast of $0.90. 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 Q1 2018 earnings at $0.87 EPS, Q2 2018 earnings at $0.92 EPS, Q3 2018 earnings at $0.95 EPS and Q4 2018 earnings at $0.95 EPS.
Several other equities research analysts also recently issued reports on USB. BidaskClub upgraded U.S. Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of U.S. Bancorp in a report on Wednesday, July 19th. Argus upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Thursday, July 20th. Wells Fargo & Company started coverage on U.S. Bancorp in a report on Wednesday, August 9th. They set a “market perform” rating and a $56.00 price objective on the stock. Finally, Robert W. Baird restated a “hold” rating and set a $48.00 price objective on shares of U.S. Bancorp in a report on Tuesday, September 5th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $53.38.
U.S. Bancorp (NYSE:USB) opened at 54.23 on Wednesday. The stock’s 50 day moving average price is $52.46 and its 200-day moving average price is $52.01. The firm has a market capitalization of $90.71 billion, a P/E ratio of 16.38 and a beta of 0.87. U.S. Bancorp has a 12 month low of $42.37 and a 12 month high of $56.61.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.85 EPS for the quarter, topping the Zacks’ 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 the consensus estimate of $5.46 billion. During the same period in the previous year, the company posted $0.82 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis.
A number of large investors have recently added to or reduced their stakes in the stock. Beacon Financial Group acquired a new position in U.S. Bancorp during the 3rd quarter valued at approximately $429,000. Curbstone Financial Management Corp boosted its position in U.S. Bancorp by 99.3% during the 3rd quarter. Curbstone Financial Management Corp now owns 40,600 shares of the financial services provider’s stock valued at $2,176,000 after purchasing an additional 20,225 shares during the period. Park National Corp OH boosted its position in U.S. Bancorp by 1.4% during the 3rd quarter. Park National Corp OH now owns 625,900 shares of the financial services provider’s stock valued at $33,542,000 after purchasing an additional 8,362 shares during the period. Cacti Asset Management LLC boosted its position in U.S. Bancorp by 0.3% during the 3rd quarter. Cacti Asset Management LLC now owns 560,358 shares of the financial services provider’s stock valued at $30,030,000 after purchasing an additional 1,510 shares during the period. Finally, Bridges Investment Management Inc. boosted its position in U.S. Bancorp by 1.6% during the 3rd quarter. Bridges Investment Management Inc. now owns 69,165 shares of the financial services provider’s stock valued at $3,707,000 after purchasing an additional 1,056 shares during the period. Institutional investors and hedge funds own 73.97% of the company’s stock.
U.S. Bancorp declared that its board has initiated a share buyback plan on Wednesday, June 28th that authorizes the company to buyback $2.60 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a $0.30 dividend. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.20 annualized dividend and a dividend yield of 2.21%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 36.04%.
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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