U.S. Bancorp (NYSE:USB) – Research analysts at Wedbush decreased their FY2018 EPS estimates for shares of U.S. Bancorp in a research note issued on Wednesday. Wedbush analyst P. Winter now anticipates that the financial services provider will earn $3.70 per share for the year, down from their previous estimate of $3.73.
U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.88. The firm had revenue of $5.61 billion during the quarter, compared to the consensus estimate 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 was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.84 EPS.
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A number of other equities analysts have also commented on USB. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of U.S. Bancorp in a report on Thursday. Morgan Stanley raised their price target on U.S. Bancorp from $51.00 to $55.00 and gave the stock an “underweight” rating in a report on Thursday. Jefferies Group LLC reaffirmed a “buy” rating and issued a $59.00 price target on shares of U.S. Bancorp in a report on Friday, August 11th. Zacks Investment Research lowered U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Nomura lowered U.S. Bancorp from a “buy” rating to a “neutral” rating and cut their price target for the stock from $57.00 to $55.00 in a report on Thursday, September 28th. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $53.94.
U.S. Bancorp (USB) traded up 0.93% during mid-day trading on Friday, hitting $54.09. The stock had a trading volume of 6,893,414 shares. The firm’s 50-day moving average is $52.88 and its 200 day moving average is $52.10. The company has a market cap of $90.48 billion, a price-to-earnings ratio of 16.34 and a beta of 0.87. U.S. Bancorp has a 12 month low of $43.50 and a 12 month high of $56.61.
U.S. Bancorp announced that its Board of Directors has initiated a stock buyback program on Wednesday, June 28th that permits the company to buyback $2.60 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.20 annualized dividend and a yield of 2.22%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.28. U.S. Bancorp’s payout ratio is 35.61%.
A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in U.S. Bancorp by 1.7% during the second quarter. Vanguard Group Inc. now owns 105,568,014 shares of the financial services provider’s stock worth $5,481,092,000 after purchasing an additional 1,727,498 shares during the last quarter. State Street Corp lifted its stake in U.S. Bancorp by 1.2% during the first quarter. State Street Corp now owns 75,509,050 shares of the financial services provider’s stock worth $3,888,995,000 after purchasing an additional 903,504 shares during the last quarter. New England Asset Management Inc. lifted its stake 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 purchasing an additional 9,150,126 shares during the last quarter. Franklin Resources Inc. lifted its stake in U.S. Bancorp by 0.7% during the second quarter. Franklin Resources Inc. now owns 16,019,884 shares of the financial services provider’s stock worth $831,753,000 after purchasing an additional 110,571 shares during the last quarter. Finally, US Bancorp DE lifted its stake in U.S. Bancorp by 1.9% during the second quarter. US Bancorp DE now owns 14,157,826 shares of the financial services provider’s stock worth $735,074,000 after purchasing an additional 259,093 shares during the last quarter. 73.95% of the stock is 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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