U.S. Bancorp (NYSE:USB – Get Rating) – Stock analysts at Wedbush issued their Q1 2024 earnings per share estimates for U.S. Bancorp in a report released on Wednesday, September 28th. Wedbush analyst D. Chiaverini forecasts that the financial services provider will post earnings per share of $1.25 for the quarter. Wedbush has a “Neutral” rating and a $47.00 price target on the stock. The consensus estimate for U.S. Bancorp’s current full-year earnings is $4.44 per share. Wedbush also issued estimates for U.S. Bancorp’s Q2 2024 earnings at $1.38 EPS and FY2024 earnings at $5.45 EPS.
Several other research firms also recently commented on USB. Deutsche Bank Aktiengesellschaft dropped their target price on U.S. Bancorp from $64.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, September 12th. Citigroup raised their price objective on U.S. Bancorp to $52.00 in a research report on Friday, July 22nd. Royal Bank of Canada lowered their price objective on U.S. Bancorp from $66.00 to $60.00 and set an “outperform” rating for the company in a research report on Friday, July 1st. Oppenheimer set a $68.00 price objective on U.S. Bancorp in a research report on Tuesday, July 19th. Finally, Piper Sandler lowered their price objective on U.S. Bancorp to $45.00 in a research report on Thursday. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $57.59.
U.S. Bancorp Price Performance
U.S. Bancorp stock opened at $40.73 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $60.52 billion, a PE ratio of 9.36, a P/E/G ratio of 1.44 and a beta of 0.97. U.S. Bancorp has a 12 month low of $40.31 and a 12 month high of $63.57. The stock has a 50-day moving average price of $46.33 and a two-hundred day moving average price of $48.95.
U.S. Bancorp (NYSE:USB – Get Rating) last posted its earnings results on Friday, July 15th. The financial services provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.07 by $0.02. The firm had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.89 billion. U.S. Bancorp had a return on equity of 15.05% and a net margin of 28.08%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the company earned $1.28 earnings per share.
Institutional Investors Weigh In On U.S. Bancorp
A number of hedge funds have recently added to or reduced their stakes in USB. GSA Capital Partners LLP acquired a new stake in U.S. Bancorp in the fourth quarter valued at approximately $245,000. Bluefin Capital Management LLC boosted its position in shares of U.S. Bancorp by 170.6% during the fourth quarter. Bluefin Capital Management LLC now owns 16,800 shares of the financial services provider’s stock valued at $944,000 after buying an additional 10,591 shares during the last quarter. Squarepoint Ops LLC boosted its position in shares of U.S. Bancorp by 98.4% during the fourth quarter. Squarepoint Ops LLC now owns 52,203 shares of the financial services provider’s stock valued at $2,932,000 after buying an additional 25,886 shares during the last quarter. Lombard Odier Asset Management Switzerland SA purchased a new position in shares of U.S. Bancorp during the fourth quarter valued at approximately $224,000. Finally, Wetherby Asset Management Inc. boosted its position in shares of U.S. Bancorp by 1.8% during the fourth quarter. Wetherby Asset Management Inc. now owns 27,905 shares of the financial services provider’s stock valued at $1,567,000 after buying an additional 487 shares during the last quarter. Institutional investors and hedge funds own 74.93% of the company’s stock.
U.S. Bancorp Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date of this dividend is Thursday, September 29th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.46. U.S. Bancorp’s dividend payout ratio (DPR) is 42.30%.
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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.
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