U.S. Bancorp (NYSE:USB) – Investment analysts at Wedbush increased their FY2019 EPS estimates for shares of U.S. Bancorp in a report issued on Thursday, October 17th. Wedbush analyst P. Winter now anticipates that the financial services provider will earn $4.33 per share for the year, up from their previous forecast of $4.28. Wedbush currently has a “Neutral” rating and a $49.00 target price on the stock. Wedbush also issued estimates for U.S. Bancorp’s Q4 2019 earnings at $1.08 EPS, Q1 2020 earnings at $1.03 EPS, Q2 2020 earnings at $1.09 EPS, Q3 2020 earnings at $1.12 EPS, Q4 2020 earnings at $1.13 EPS and FY2021 earnings at $4.57 EPS.
U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.04. The firm had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.81 billion. U.S. Bancorp had a return on equity of 15.39% and a net margin of 26.54%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.06 EPS.
Several other equities research analysts have also recently commented on the company. Citigroup cut U.S. Bancorp from a “neutral” rating to a “sell” rating and cut their target price for the company from $54.00 to $49.00 in a research note on Tuesday, October 8th. Piper Jaffray Companies set a $59.00 target price on U.S. Bancorp and gave the company a “buy” rating in a research note on Friday, September 13th. JPMorgan Chase & Co. upgraded U.S. Bancorp from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $52.50 to $57.00 in a research note on Wednesday, July 31st. Macquarie cut U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $59.00 target price on the stock. in a research note on Thursday, August 1st. Finally, UBS Group boosted their target price on U.S. Bancorp from $56.00 to $58.00 and gave the company a “neutral” rating in a research note on Monday. Four analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $56.60.
NYSE USB opened at $56.65 on Monday. The stock has a market capitalization of $86.78 billion, a price-to-earnings ratio of 13.82, a PEG ratio of 2.12 and a beta of 1.10. The stock’s 50 day moving average price is $54.57 and its two-hundred day moving average price is $53.01. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.82 and a current ratio of 0.83. U.S. Bancorp has a 52 week low of $43.14 and a 52 week high of $57.81.
U.S. Bancorp announced that its board has authorized a share repurchase plan on Thursday, June 27th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 3.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.42 per share. The ex-dividend date was Friday, September 27th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.97%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.37. U.S. Bancorp’s dividend payout ratio is currently 40.98%.
In other news, Director David B. Omaley sold 10,133 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $55.76, for a total transaction of $565,016.08. Following the sale, the director now owns 191,754 shares in the company, valued at approximately $10,692,203.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman Shailesh M. Kotwal sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $57.33, for a total value of $1,146,600.00. Following the sale, the insider now owns 65,959 shares in the company, valued at approximately $3,781,429.47. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,119 shares of company stock worth $2,341,334. Company insiders own 0.24% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Manchester Financial Inc. bought a new stake in U.S. Bancorp in the 2nd quarter valued at $30,000. Lenox Wealth Advisors LLC bought a new stake in U.S. Bancorp in the 3rd quarter valued at $33,000. Hillsdale Investment Management Inc. bought a new stake in U.S. Bancorp in the 2nd quarter valued at $37,000. Prime Capital Investment Advisors LLC raised its stake in U.S. Bancorp by 174.0% in the 2nd quarter. Prime Capital Investment Advisors LLC now owns 707 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 449 shares during the period. Finally, Old North State Trust LLC raised its stake in U.S. Bancorp by 99.1% in the 3rd quarter. Old North State Trust LLC now owns 667 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 332 shares during the period. Institutional investors own 75.51% of the company’s stock.
About U.S. Bancorp
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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