U.S. Bancorp (NYSE:USB) – Equities research analysts at Jefferies Group cut 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 per share of $0.89 for the quarter, down from their prior forecast of $0.90. Jefferies Group currently has a “Buy” rating and a $62.00 target price 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.
USB has been the subject of several other research reports. BidaskClub lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. Zacks Investment Research lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Robert W. Baird reissued a “hold” rating and issued a $48.00 price objective on shares of U.S. Bancorp in a research report on Tuesday, September 5th. Citigroup Inc. reissued a “neutral” rating and issued a $58.00 price objective (up previously from $53.00) on shares of U.S. Bancorp in a research report on Monday. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $53.56.
U.S. Bancorp (NYSE:USB) traded up 0.15% during mid-day trading on Wednesday, reaching $54.07. 1,826,111 shares of the company traded hands. U.S. Bancorp has a 52-week low of $42.52 and a 52-week high of $56.61. The stock has a 50-day moving average of $52.59 and a 200 day moving average of $52.04. The stock has a market capitalization of $90.45 billion, a PE ratio of 16.34 and a beta of 0.87.
U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.01. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter last year, the firm earned $0.82 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis.
Several institutional investors have recently bought and sold shares of USB. Waldron LP bought a new position in shares of U.S. Bancorp in the 1st quarter worth about $323,000. First Houston Capital Inc. lifted its position in shares of U.S. Bancorp by 2.2% in the 1st quarter. First Houston Capital Inc. now owns 61,700 shares of the financial services provider’s stock worth $3,178,000 after buying an additional 1,300 shares during the last quarter. Willingdon Wealth Management lifted its position in shares of U.S. Bancorp by 2.8% in the 1st quarter. Willingdon Wealth Management now owns 36,449 shares of the financial services provider’s stock worth $1,877,000 after buying an additional 989 shares during the last quarter. WASHINGTON TRUST Co bought a new position in shares of U.S. Bancorp in the 1st quarter worth about $4,419,000. Finally, Thompson Investment Management Inc. lifted its position in shares of U.S. Bancorp by 25.0% in the 1st quarter. Thompson Investment Management Inc. now owns 16,679 shares of the financial services provider’s stock worth $859,000 after buying an additional 3,338 shares during the last quarter. Institutional investors own 73.97% of the company’s stock.
U.S. Bancorp declared that its board has initiated a share buyback program on Wednesday, June 28th that allows the company to repurchase $2.60 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.30 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Thursday, September 28th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 36.04%.
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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