Equities Analysts Offer Predictions for U.S. Bancorp’s FY2019 Earnings (USB)
U.S. Bancorp (NYSE:USB) – Equities researchers at Wedbush issued their FY2019 earnings per share estimates for shares of U.S. Bancorp in a research report issued on Thursday. Wedbush analyst P. Winter anticipates that the financial services provider will post earnings per share of $4.47 for the year.
Several other research firms have also weighed in on USB. Piper Jaffray Companies upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $61.00 target price on the stock in a report on Friday. Citigroup reiterated a “neutral” rating and set a $58.00 target price (up from $53.00) on shares of U.S. Bancorp in a report on Monday, October 9th. Jefferies Group reiterated a “buy” rating and set a $62.00 target price on shares of U.S. Bancorp in a report on Thursday, October 12th. Nomura lowered U.S. Bancorp from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $57.00 to $55.00 in a report on Thursday, September 28th. Finally, Zacks Investment Research upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Monday, October 30th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $55.71.
U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.88. The firm had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.60 billion. U.S. Bancorp had a return on equity of 13.91% and a net margin of 25.46%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 earnings per share.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be issued a $0.30 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.17%. U.S. Bancorp’s dividend payout ratio (DPR) is 35.71%.
Several institutional investors have recently modified their holdings of the company. Stelac Advisory Services LLC bought a new stake in U.S. Bancorp during the second quarter worth about $103,000. Horan Capital Advisors LLC. bought a new stake in U.S. Bancorp during the third quarter worth about $112,000. Phocas Financial Corp. bought a new stake in U.S. Bancorp during the second quarter worth about $109,000. San Francisco Sentry Investment Group CA raised its holdings in U.S. Bancorp by 1,211.9% during the third quarter. San Francisco Sentry Investment Group CA now owns 3,306 shares of the financial services provider’s stock worth $177,000 after acquiring an additional 3,054 shares in the last quarter. Finally, Pathstone Family Office LLC raised its holdings in U.S. Bancorp by 13.2% during the second quarter. Pathstone Family Office LLC now owns 3,317 shares of the financial services provider’s stock worth $172,000 after acquiring an additional 386 shares in the last quarter. Institutional investors own 73.95% of the company’s stock.
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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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