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

U.S. Bancorp (NYSE:USB) – Research analysts at Oppenheimer lifted their FY2019 earnings per share (EPS) estimates for U.S. Bancorp in a report issued on Wednesday, October 16th. Oppenheimer analyst C. Kotowski now anticipates that the financial services provider will post earnings per share of $4.38 for the year, up from their previous forecast of $4.35. Oppenheimer also issued estimates for U.S. Bancorp’s Q4 2019 earnings at $1.12 EPS, Q1 2020 earnings at $1.04 EPS, Q2 2020 earnings at $1.11 EPS, Q3 2020 earnings at $1.15 EPS, Q4 2020 earnings at $1.21 EPS and FY2020 earnings at $4.51 EPS.

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 (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.04. U.S. Bancorp had a return on equity of 15.39% and a net margin of 26.54%. The business had revenue of $5.92 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the previous year, the company posted $1.06 EPS. The company’s revenue was up 3.9% compared to the same quarter last year.

A number of other equities analysts have also recently commented on the company. Citigroup cut U.S. Bancorp from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $54.00 to $49.00 in a report on Tuesday, October 8th. Credit Suisse Group reiterated a “hold” rating and issued a $55.00 target price on shares of U.S. Bancorp in a report on Thursday, September 12th. Bank of America cut U.S. Bancorp from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $55.00 to $53.00 in a report on Monday, September 30th. Macquarie cut U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $59.00 target price for the company. in a report on Thursday, August 1st. Finally, Morgan Stanley lifted their target price on U.S. Bancorp from $55.00 to $56.00 and gave the stock an “underweight” rating in a report on Thursday, July 18th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. U.S. Bancorp currently has a consensus rating of “Hold” and a consensus target price of $56.60.

Shares of U.S. Bancorp stock opened at $56.65 on Monday. The stock has a market cap of $86.78 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 2.12 and a beta of 1.10. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a 50 day moving average price of $54.57 and a 200-day moving average price of $53.01. U.S. Bancorp has a one year low of $43.14 and a one year high of $57.81.

Several institutional investors and hedge funds have recently added to or reduced their stakes in USB. Squar Milner Financial Services LLC increased its position in U.S. Bancorp by 201.3% during the 3rd quarter. Squar Milner Financial Services LLC now owns 3,661 shares of the financial services provider’s stock valued at $202,000 after buying an additional 2,446 shares in the last quarter. Prospera Financial Services Inc increased its position in U.S. Bancorp by 2.6% during the 3rd quarter. Prospera Financial Services Inc now owns 8,276 shares of the financial services provider’s stock valued at $458,000 after buying an additional 208 shares in the last quarter. Howland Capital Management LLC increased its position in U.S. Bancorp by 4.1% during the 3rd quarter. Howland Capital Management LLC now owns 171,418 shares of the financial services provider’s stock valued at $9,486,000 after buying an additional 6,803 shares in the last quarter. 6 Meridian acquired a new position in U.S. Bancorp during the 3rd quarter valued at about $6,857,000. Finally, CWM LLC increased its position in U.S. Bancorp by 13.8% during the 3rd quarter. CWM LLC now owns 654,251 shares of the financial services provider’s stock valued at $36,206,000 after buying an additional 79,268 shares in the last quarter. 75.51% of the stock is owned by hedge funds and other institutional investors.

In other news, Director David B. Omaley sold 10,133 shares of the business’s stock in a transaction on Friday, September 13th. The stock was 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 directly owns 191,754 shares of the company’s stock, valued at approximately $10,692,203.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Shailesh M. Kotwal sold 20,000 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 65,959 shares of the company’s stock, valued at $3,781,429.47. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,119 shares of company stock valued at $2,341,334. 0.24% of the stock is owned by company insiders.

U.S. Bancorp declared that its Board of Directors has initiated a stock buyback plan on Thursday, June 27th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 3.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued 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 yield of 2.97%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.37. U.S. Bancorp’s payout ratio is presently 40.98%.

U.S. Bancorp Company Profile

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

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