FY2019 EPS Estimates for U.S. Bancorp (NYSE:USB) Boosted by Analyst

U.S. Bancorp (NYSE:USB) – Piper Jaffray Companies boosted their FY2019 earnings per share estimates for U.S. Bancorp in a research report issued on Wednesday, October 16th. Piper Jaffray Companies analyst K. Barker now forecasts that the financial services provider will post earnings per share of $4.35 for the year, up from their prior estimate of $4.32. Piper Jaffray Companies has a “Buy” rating and a $59.00 price objective on the stock. Piper Jaffray Companies also issued estimates for U.S. Bancorp’s Q4 2019 earnings at $1.12 EPS, Q1 2020 earnings at $1.07 EPS, Q2 2020 earnings at $1.14 EPS, Q3 2020 earnings at $1.15 EPS, Q4 2020 earnings at $1.22 EPS, FY2020 earnings at $4.58 EPS, Q1 2021 earnings at $1.13 EPS, Q2 2021 earnings at $1.22 EPS, Q3 2021 earnings at $1.22 EPS and FY2021 earnings at $4.86 EPS.

Other analysts have also issued reports about the company. JPMorgan Chase & Co. raised U.S. Bancorp from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $52.50 to $57.00 in a research note on Wednesday, July 31st. Deutsche Bank set a $59.00 price objective on U.S. Bancorp and gave the company a “hold” rating in a research note on Friday, July 26th. Wedbush raised their price objective on U.S. Bancorp from $46.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Bank of America lowered U.S. Bancorp from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $55.00 to $53.00 in a research note on Monday, September 30th. Finally, Credit Suisse Group reaffirmed a “hold” rating and issued a $55.00 price objective on shares of U.S. Bancorp in a research note on Thursday, September 12th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $56.60.

NYSE:USB opened at $56.65 on Monday. The stock’s 50-day simple moving average is $54.57 and its 200 day simple moving average is $53.01. The firm has a market capitalization of $86.78 billion, a PE ratio of 13.82, a price-to-earnings-growth ratio of 2.12 and a beta of 1.10. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.86. U.S. Bancorp has a twelve month low of $43.14 and a twelve month high of $57.81.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.04. The business had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.81 billion. U.S. Bancorp had a return on equity of 15.39% and a net margin of 26.54%. U.S. Bancorp’s revenue was up 3.9% compared to the same quarter last year. During the same period last year, the firm posted $1.06 earnings per share.

U.S. Bancorp declared that its Board of Directors has initiated a share buyback program on Thursday, June 27th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 3.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.42 dividend. The ex-dividend date was Friday, September 27th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.37. This represents a $1.68 annualized dividend and a yield of 2.97%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 40.98%.

In other U.S. Bancorp news, Vice Chairman Shailesh M. Kotwal sold 20,000 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 65,959 shares in the company, valued at $3,781,429.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David B. Omaley sold 10,133 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $55.76, for a total value of $565,016.08. Following the completion of the transaction, the director now owns 191,754 shares of the company’s stock, valued at $10,692,203.04. The disclosure for this sale can be found here. Insiders sold 41,119 shares of company stock valued at $2,341,334 over the last quarter. Corporate insiders own 0.24% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Northern Trust Corp raised its position in shares of U.S. Bancorp by 0.8% during the second quarter. Northern Trust Corp now owns 20,491,980 shares of the financial services provider’s stock worth $1,073,779,000 after acquiring an additional 171,826 shares during the last quarter. Daily Journal Corp raised its position in shares of U.S. Bancorp by 9,900.0% during the second quarter. Daily Journal Corp now owns 14,000,000 shares of the financial services provider’s stock worth $7,336,000 after acquiring an additional 13,860,000 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of U.S. Bancorp by 2.4% during the second quarter. Janus Henderson Group PLC now owns 13,382,530 shares of the financial services provider’s stock worth $701,230,000 after acquiring an additional 310,818 shares during the last quarter. Nuveen Asset Management LLC raised its position in shares of U.S. Bancorp by 17,492.7% during the second quarter. Nuveen Asset Management LLC now owns 12,734,464 shares of the financial services provider’s stock worth $667,286,000 after acquiring an additional 12,662,079 shares during the last quarter. Finally, Fiera Capital Corp raised its position in shares of U.S. Bancorp by 4.2% during the second quarter. Fiera Capital Corp now owns 9,521,304 shares of the financial services provider’s stock worth $498,916,000 after acquiring an additional 387,833 shares during the last quarter. Hedge funds and other 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.

Further Reading: Rule of 72

Earnings History and Estimates for U.S. Bancorp (NYSE:USB)

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