U.S. Bancorp Expected to Earn Q4 2017 Earnings of $0.87 Per Share (USB)
U.S. Bancorp (NYSE:USB) – Research analysts at Wedbush issued their Q4 2017 EPS estimates for U.S. Bancorp in a research note issued to investors on Wednesday. Wedbush analyst P. Winter forecasts that the financial services provider will earn $0.87 per share for the quarter. Wedbush 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 $0.96 EPS and Q4 2018 earnings at $0.95 EPS.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.88. U.S. Bancorp had a net margin of 25.46% and a return on equity of 13.91%. The firm had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.60 billion. During the same quarter in the previous year, the firm posted $0.84 earnings per share. The company’s revenue was up 4.1% on a year-over-year basis. COPYRIGHT VIOLATION WARNING: This news story was first published by American Banking News and is the property of of American Banking News. If you are viewing this news story on another publication, it was illegally copied and reposted in violation of United States and international copyright and trademark law. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2017/10/23/u-s-bancorp-expected-to-earn-q4-2017-earnings-of-0-87-per-share-usb.html.
USB has been the subject of several other research reports. Instinet cut shares of U.S. Bancorp from a “buy” rating to a “neutral” rating and decreased their price target for the company from $57.00 to $55.00 in a research report on Thursday, September 28th. Zacks Investment Research raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, October 9th. Robert W. Baird reissued a “hold” rating and issued a $48.00 price target on shares of U.S. Bancorp in a research report on Friday, October 6th. BidaskClub cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Finally, Wells Fargo & Company assumed coverage on shares of U.S. Bancorp in a research report on Wednesday, August 9th. They issued a “market perform” rating and a $56.00 price target for the company. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $53.94.
U.S. Bancorp (USB) opened at 54.09 on Monday. The company has a market cap of $90.48 billion, a P/E ratio of 16.34 and a beta of 0.87. The company has a 50-day moving average of $52.96 and a 200-day moving average of $52.12. U.S. Bancorp has a 52 week low of $43.50 and a 52 week high of $56.61.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.20 dividend on an annualized basis and a yield of 2.22%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.28. U.S. Bancorp’s payout ratio is currently 35.61%.
U.S. Bancorp announced that its board has approved a share repurchase program 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 reacquire up to 3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
Hedge funds have recently added to or reduced their stakes in the stock. Shelton Capital Management boosted its holdings in U.S. Bancorp by 51.2% during the first quarter. Shelton Capital Management now owns 133,200 shares of the financial services provider’s stock worth $6,860,000 after buying an additional 45,116 shares in the last quarter. Bank of Montreal Can boosted its holdings in U.S. Bancorp by 2.6% during the second quarter. Bank of Montreal Can now owns 6,171,700 shares of the financial services provider’s stock worth $320,434,000 after buying an additional 159,319 shares in the last quarter. Stratos Wealth Partners LTD. boosted its holdings in U.S. Bancorp by 13.1% during the first quarter. Stratos Wealth Partners LTD. now owns 40,541 shares of the financial services provider’s stock worth $2,088,000 after buying an additional 4,683 shares in the last quarter. TIAA CREF Investment Management LLC boosted its holdings in U.S. Bancorp by 1.1% during the first quarter. TIAA CREF Investment Management LLC now owns 6,968,670 shares of the financial services provider’s stock worth $358,887,000 after buying an additional 73,504 shares in the last quarter. Finally, New England Asset Management Inc. boosted its holdings in U.S. Bancorp by 52.5% during the first quarter. New England Asset Management Inc. now owns 26,571,846 shares of the financial services provider’s stock worth $1,368,451,000 after buying an additional 9,150,126 shares in the last quarter. 73.95% of the stock is currently owned by hedge funds and other institutional investors.
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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