Research Analysts Set Expectations for U.S. Bancorp’s FY2024 Earnings (NYSE:USB)

U.S. Bancorp (NYSE:USB) – Equities research analysts at DA Davidson lowered their FY2024 earnings per share estimates for U.S. Bancorp in a report released on Thursday, June 27th. DA Davidson analyst P. Winter now anticipates that the financial services provider will earn $3.86 per share for the year, down from their prior estimate of $3.88. DA Davidson has a “Neutral” rating and a $44.00 price target on the stock. The consensus estimate for U.S. Bancorp’s current full-year earnings is $3.84 per share. DA Davidson also issued estimates for U.S. Bancorp’s FY2025 earnings at $4.27 EPS.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The company had revenue of $6.72 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter last year, the company posted $1.16 earnings per share. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year.

USB has been the topic of several other research reports. Evercore ISI raised their price objective on shares of U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. UBS Group lowered their price objective on shares of U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Barclays lowered their price objective on shares of U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating on the stock in a research note on Thursday, April 18th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $45.00 target price on shares of U.S. Bancorp in a research report on Friday, June 21st. Finally, Compass Point raised U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their target price for the stock from $46.00 to $49.00 in a research report on Friday, March 22nd. Sixteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, U.S. Bancorp has a consensus rating of “Hold” and a consensus target price of $46.02.

U.S. Bancorp Trading Down 1.2 %

Shares of U.S. Bancorp stock opened at $39.24 on Monday. The company’s fifty day simple moving average is $40.35 and its 200-day simple moving average is $41.70. The company has a market cap of $61.23 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 3.82 and a beta of 1.04. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07. U.S. Bancorp has a 1 year low of $30.47 and a 1 year high of $45.85.

Hedge Funds Weigh In On U.S. Bancorp

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in U.S. Bancorp by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider’s stock valued at $4,513,127,000 after acquiring an additional 6,479,642 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of U.S. Bancorp by 8.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,719,110 shares of the financial services provider’s stock worth $1,459,363,000 after purchasing an additional 2,598,163 shares in the last quarter. Norges Bank bought a new stake in shares of U.S. Bancorp during the 4th quarter worth approximately $827,370,000. Morgan Stanley raised its stake in shares of U.S. Bancorp by 4.3% during the 3rd quarter. Morgan Stanley now owns 18,129,558 shares of the financial services provider’s stock worth $599,363,000 after purchasing an additional 751,865 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of U.S. Bancorp by 3.0% during the 1st quarter. Van ECK Associates Corp now owns 9,207,376 shares of the financial services provider’s stock worth $411,570,000 after purchasing an additional 265,734 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.99%. The ex-dividend date is Friday, June 28th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.

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 through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.