U.S. Bancorp (NYSE:USB) – Research analysts at Jefferies Group raised 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 per share of $0.89 for the quarter, up from their previous forecast of $0.88. Jefferies Group has a “Buy” rating and a $59.00 price target 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.
Several other research firms have also commented on USB. BidaskClub upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Wells Fargo & Company lowered shares of U.S. Bancorp from an “outperform” rating to a “market perform” rating and boosted their price objective 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. Argus upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research report on Thursday, July 20th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $55.00 price objective on shares of U.S. Bancorp in a research report on Tuesday, April 4th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $52.56.
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Shares of U.S. Bancorp (USB) opened at 52.79 on Monday. U.S. Bancorp has a 12 month low of $41.12 and a 12 month high of $56.61. The firm has a market capitalization of $88.63 billion, a PE ratio of 15.95 and a beta of 0.86. The stock has a 50 day moving average of $52.05 and a 200-day moving average of $52.41.
U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, July 19th. The financial services provider reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.01. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.82 earnings per share.
U.S. Bancorp declared that its board has approved 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 shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend was Wednesday, June 28th. U.S. Bancorp’s dividend payout ratio is currently 33.63%.
In other news, Vice Chairman Leslie V. Godridge sold 14,192 shares of the company’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $52.18, for a total transaction of $740,538.56. Following the completion of the transaction, the insider now owns 62,303 shares of the company’s stock, valued at approximately $3,250,970.54. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Vice Chairman P.W. Parker sold 29,449 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $51.94, for a total transaction of $1,529,581.06. Following the transaction, the insider now directly owns 307,698 shares of the company’s stock, valued at approximately $15,981,834.12. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of USB. Hudock Capital Group LLC increased its position in U.S. Bancorp by 0.4% in the first quarter. Hudock Capital Group LLC now owns 3,787 shares of the financial services provider’s stock worth $195,000 after buying an additional 16 shares in the last quarter. BSW Wealth Partners increased its position in U.S. Bancorp by 0.6% in the first quarter. BSW Wealth Partners now owns 3,973 shares of the financial services provider’s stock worth $205,000 after buying an additional 23 shares in the last quarter. Beese Fulmer Investment Management Inc. increased its position in U.S. Bancorp by 0.4% in the first quarter. Beese Fulmer Investment Management Inc. now owns 5,610 shares of the financial services provider’s stock worth $289,000 after buying an additional 25 shares in the last quarter. D. Scott Neal Inc. increased its position in U.S. Bancorp by 0.5% in the first quarter. D. Scott Neal Inc. now owns 7,488 shares of the financial services provider’s stock worth $386,000 after buying an additional 36 shares in the last quarter. Finally, Green Square Capital LLC increased its position in U.S. Bancorp by 0.4% in the first quarter. Green Square Capital LLC now owns 11,322 shares of the financial services provider’s stock worth $586,000 after buying an additional 41 shares in the last quarter. 75.57% of the stock is owned by 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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