FY2024 EPS Estimates for U.S. Bancorp Lifted by DA Davidson

U.S. Bancorp (NYSE:USB) – DA Davidson raised their FY2024 EPS estimates for shares of U.S. Bancorp in a research report issued on Thursday, October 17th. DA Davidson analyst P. Winter now forecasts that the financial services provider will post earnings of $3.99 per share for the year, up from their previous estimate of $3.93. DA Davidson currently has a “Neutral” rating and a $54.00 target price on the stock. The consensus estimate for U.S. Bancorp’s current full-year earnings is $3.86 per share. DA Davidson also issued estimates for U.S. Bancorp’s FY2025 earnings at $4.36 EPS.

A number of other brokerages have also recently commented on USB. Evercore ISI lifted their target price on shares of U.S. Bancorp from $49.00 to $51.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. The Goldman Sachs Group cut their target price on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Jefferies Financial Group cut their target price on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. JPMorgan Chase & Co. cut shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price on the stock. in a report on Thursday, June 27th. Finally, UBS Group boosted their price objective on shares of U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, U.S. Bancorp currently has an average rating of “Hold” and a consensus price target of $50.71.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $49.16 on Monday. The firm’s fifty day simple moving average is $45.24 and its 200-day simple moving average is $42.66. The stock has a market capitalization of $76.71 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 3.32 and a beta of 1.03. U.S. Bancorp has a 12 month low of $30.47 and a 12 month high of $50.47. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. The business had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.05 EPS.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.07%. U.S. Bancorp’s dividend payout ratio is 66.23%.

U.S. Bancorp declared that its board has initiated a share buyback plan on Thursday, September 12th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On U.S. Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the business. Banque Cantonale Vaudoise lifted its holdings in U.S. Bancorp by 49.0% in the 1st quarter. Banque Cantonale Vaudoise now owns 6,034 shares of the financial services provider’s stock valued at $270,000 after purchasing an additional 1,983 shares in the last quarter. &PARTNERS purchased a new position in U.S. Bancorp in the 1st quarter valued at about $281,000. Global Assets Advisory LLC purchased a new position in U.S. Bancorp in the 1st quarter valued at about $1,340,000. Financial Synergies Wealth Advisors Inc. purchased a new position in U.S. Bancorp in the 1st quarter valued at about $30,000. Finally, Strategic Planning Group LLC lifted its holdings in U.S. Bancorp by 23.9% in the 1st quarter. Strategic Planning Group LLC now owns 59,135 shares of the financial services provider’s stock valued at $2,643,000 after purchasing an additional 11,407 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Company Profile

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.