U.S. Bancorp (NYSE:USB – Free Report) – Equities research analysts at DA Davidson dropped their FY2023 earnings per share estimates for shares of U.S. Bancorp in a research note issued on Monday, October 23rd. DA Davidson analyst P. Winter now anticipates that the financial services provider will post earnings of $4.32 per share for the year, down from their prior forecast of $4.36. DA Davidson has a “Neutral” rating and a $41.00 price target on the stock. The consensus estimate for U.S. Bancorp’s current full-year earnings is $4.32 per share. DA Davidson also issued estimates for U.S. Bancorp’s Q4 2023 earnings at $1.00 EPS and FY2024 earnings at $4.01 EPS.
A number of other equities research analysts have also commented on USB. Wedbush upped their price target on U.S. Bancorp from $35.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, July 20th. Stephens reiterated an “overweight” rating and issued a $47.00 price target on shares of U.S. Bancorp in a research report on Monday, July 24th. Oppenheimer reduced their price target on U.S. Bancorp from $62.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, October 19th. Morgan Stanley dropped their price objective on U.S. Bancorp from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 3rd. Finally, Barclays dropped their price objective on U.S. Bancorp from $52.00 to $48.00 in a research note on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $45.76.
U.S. Bancorp Trading Up 0.4 %
NYSE USB opened at $31.37 on Tuesday. The business’s 50-day moving average price is $34.33 and its two-hundred day moving average price is $34.08. U.S. Bancorp has a 12 month low of $27.27 and a 12 month high of $49.95. The firm has a market capitalization of $48.09 billion, a PE ratio of 9.34, a price-to-earnings-growth ratio of 1.43 and a beta of 0.99. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.92.
U.S. Bancorp (NYSE:USB – Get Free Report) last issued its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.09. U.S. Bancorp had a return on equity of 15.80% and a net margin of 14.39%. The business had revenue of $7.03 billion for the quarter, compared to analyst estimates of $7.02 billion. During the same quarter in the previous year, the company posted $1.18 EPS. U.S. Bancorp’s quarterly revenue was up 11.2% compared to the same quarter last year.
U.S. Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 6.12%. The ex-dividend date of this dividend was Thursday, September 28th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 57.14%.
Insider Transactions at U.S. Bancorp
In related news, insider James B. Kelligrew acquired 500 shares of the stock in a transaction dated Sunday, August 27th. The stock was purchased at an average cost of $54.40 per share, with a total value of $27,200.00. Following the completion of the purchase, the insider now directly owns 940 shares in the company, valued at approximately $51,136. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CFO Terrance R. Dolan sold 26,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $39.75, for a total value of $1,033,500.00. Following the completion of the transaction, the chief financial officer now directly owns 166,992 shares of the company’s stock, valued at $6,637,932. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider James B. Kelligrew bought 500 shares of U.S. Bancorp stock in a transaction dated Sunday, August 27th. The stock was acquired at an average cost of $54.40 per share, with a total value of $27,200.00. Following the completion of the acquisition, the insider now owns 940 shares of the company’s stock, valued at $51,136. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 654 shares of company stock valued at $30,148 and sold 39,842 shares valued at $1,584,149. Company insiders own 0.24% of the company’s stock.
Hedge Funds Weigh In On U.S. Bancorp
Institutional investors have recently modified their holdings of the business. Nemes Rush Group LLC bought a new position in shares of U.S. Bancorp in the second quarter valued at approximately $25,000. Core Alternative Capital grew its holdings in U.S. Bancorp by 85.7% during the first quarter. Core Alternative Capital now owns 741 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 342 shares during the period. Thompson Investment Management Inc. bought a new position in U.S. Bancorp during the first quarter valued at $29,000. Iron Horse Wealth Management LLC bought a new position in U.S. Bancorp during the first quarter valued at $29,000. Finally, Cedar Mountain Advisors LLC grew its holdings in U.S. Bancorp by 82.0% during the second quarter. Cedar Mountain Advisors LLC now owns 899 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 405 shares during the period. 75.40% of the stock is owned by institutional investors.
About U.S. Bancorp
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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.
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