FY2024 EPS Estimate for U.S. Bancorp Decreased by Analyst

U.S. Bancorp (NYSE:USB) – Stock analysts at DA Davidson lowered their FY2024 EPS estimates for shares of U.S. Bancorp in a report issued on Thursday, December 19th. DA Davidson analyst P. Winter now anticipates that the financial services provider will post earnings per share of $3.98 for the year, down from their previous estimate of $3.99. DA Davidson has a “Neutral” rating and a $54.00 price objective on the stock. The consensus estimate for U.S. Bancorp’s current full-year earnings is $3.93 per share.

Other analysts also recently issued reports about the company. Stephens upped their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Compass Point boosted their target price on U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Raymond James upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a research note on Thursday, December 19th. Oppenheimer raised their target price on shares of U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company boosted their price objective on U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $53.68.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $48.83 on Monday. The firm has a market capitalization of $76.18 billion, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 3.03 and a beta of 1.03. The company has a 50 day moving average price of $50.20 and a 200 day moving average price of $45.66. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.04. The company had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. U.S. Bancorp’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.05 EPS.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Lantz Financial LLC boosted its position in shares of U.S. Bancorp by 4.7% during the second quarter. Lantz Financial LLC now owns 48,116 shares of the financial services provider’s stock worth $1,910,000 after buying an additional 2,179 shares during the period. Callan Family Office LLC bought a new position in shares of U.S. Bancorp in the second quarter worth $213,000. State of Michigan Retirement System increased its holdings in shares of U.S. Bancorp by 1.2% during the second quarter. State of Michigan Retirement System now owns 448,882 shares of the financial services provider’s stock valued at $17,821,000 after purchasing an additional 5,200 shares during the period. Atomi Financial Group Inc. raised its stake in shares of U.S. Bancorp by 35.0% during the second quarter. Atomi Financial Group Inc. now owns 17,775 shares of the financial services provider’s stock valued at $706,000 after purchasing an additional 4,608 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in U.S. Bancorp by 2.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 193,149 shares of the financial services provider’s stock worth $7,668,000 after purchasing an additional 5,139 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the completion of the transaction, the insider now directly owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. The trade was a 16.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend is Tuesday, December 31st. U.S. Bancorp’s payout ratio is currently 61.16%.

U.S. Bancorp announced that its board has approved a share repurchase program on Thursday, September 12th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.