U.S. Bancorp (USB) to Post FY2018 Earnings of $4.11 Per Share, Wedbush Forecasts

U.S. Bancorp (NYSE:USB) – Equities researchers at Wedbush raised their FY2018 EPS estimates for U.S. Bancorp in a research note issued to investors on Wednesday, October 17th. Wedbush analyst P. Winter now expects that the financial services provider will earn $4.11 per share for the year, up from their previous estimate of $4.08. Wedbush has a “Hold” rating and a $58.00 price objective on the stock. Wedbush also issued estimates for U.S. Bancorp’s Q1 2019 earnings at $1.02 EPS, Q3 2019 earnings at $1.15 EPS, FY2019 earnings at $4.44 EPS and FY2020 earnings at $4.76 EPS.

Several other research firms also recently weighed in on USB. ValuEngine raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, July 26th. Zacks Investment Research downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, September 25th. Nomura dropped their target price on shares of U.S. Bancorp from $60.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday. Oppenheimer raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $62.00 target price on the stock in a research report on Thursday. Finally, UBS Group raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating in a research report on Thursday. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $59.58.

Shares of USB opened at $52.50 on Friday. The company has a market capitalization of $86.18 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 1.73 and a beta of 0.98. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.82 and a current ratio of 0.85. U.S. Bancorp has a 12-month low of $48.49 and a 12-month high of $58.50.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, October 17th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.02. The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.68 billion. U.S. Bancorp had a net margin of 27.53% and a return on equity of 15.14%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 EPS.

Several hedge funds have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA boosted its holdings in shares of U.S. Bancorp by 0.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 41,034,263 shares of the financial services provider’s stock worth $2,052,534,000 after purchasing an additional 124,650 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of U.S. Bancorp by 15.0% during the second quarter. Bank of New York Mellon Corp now owns 15,867,860 shares of the financial services provider’s stock worth $793,710,000 after purchasing an additional 2,071,326 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of U.S. Bancorp by 8.5% during the second quarter. Janus Henderson Group PLC now owns 12,146,468 shares of the financial services provider’s stock worth $607,565,000 after purchasing an additional 946,517 shares during the period. American Century Companies Inc. boosted its holdings in shares of U.S. Bancorp by 1.9% during the second quarter. American Century Companies Inc. now owns 10,220,827 shares of the financial services provider’s stock worth $511,246,000 after purchasing an additional 186,828 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of U.S. Bancorp by 2.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 5,861,928 shares of the financial services provider’s stock worth $293,214,000 after purchasing an additional 132,854 shares during the period. Institutional investors and hedge funds own 74.41% of the company’s stock.

In related news, Vice Chairman John R. Elmore sold 58,924 shares of the firm’s stock in a transaction that occurred on Monday, July 23rd. The shares were sold at an average price of $51.71, for a total transaction of $3,046,960.04. Following the completion of the sale, the insider now directly owns 98,371 shares in the company, valued at $5,086,764.41. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.43% of the company’s stock.

The company also recently announced a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were given a $0.37 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.30. This represents a $1.48 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend was Thursday, September 27th. U.S. Bancorp’s dividend payout ratio (DPR) is 43.27%.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through 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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Earnings History and Estimates for U.S. Bancorp (NYSE:USB)

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