Research Analysts Offer Predictions for U.S. Bancorp’s FY2017 Earnings (USB)
U.S. Bancorp (NYSE:USB) – Investment analysts at Oppenheimer Holdings increased their FY2017 earnings per share (EPS) estimates for U.S. Bancorp in a research report issued to clients and investors on Thursday. Oppenheimer Holdings analyst B. Chittenden now anticipates that the financial services provider will earn $3.43 per share for the year, up from their prior estimate of $3.41. Oppenheimer Holdings has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for U.S. Bancorp’s FY2018 earnings at $3.74 EPS.
U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.88. The company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.60 billion. U.S. Bancorp had a net margin of 25.46% and a return on equity of 13.91%. U.S. Bancorp’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.84 EPS.
A number of other equities analysts also recently weighed in on the stock. Morgan Stanley boosted their price target on shares of U.S. Bancorp from $51.00 to $55.00 and gave the stock an “underweight” rating in a report on Thursday. Zacks Investment Research downgraded shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday. Jefferies Group LLC reissued a “buy” rating and issued a $62.00 price target on shares of U.S. Bancorp in a report on Thursday, October 12th. Citigroup Inc. reissued a “neutral” rating and issued a $58.00 price target (up from $53.00) on shares of U.S. Bancorp in a report on Monday, October 9th. Finally, Robert W. Baird reissued a “hold” rating and issued a $48.00 price target on shares of U.S. Bancorp in a report on Friday, October 6th. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $53.94.
Shares of U.S. Bancorp (NYSE USB) opened at 54.09 on Friday. The stock’s 50 day moving average is $52.96 and its 200-day moving average is $52.12. The firm has a market cap of $90.48 billion, a PE ratio of 16.34 and a beta of 0.87. U.S. Bancorp has a 1-year low of $43.70 and a 1-year high of $56.61.
The business also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, September 28th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 2.22%. U.S. Bancorp’s dividend payout ratio is currently 35.61%.
U.S. Bancorp declared that its board has authorized a stock buyback program on Wednesday, June 28th that authorizes the company to repurchase $2.60 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
Several institutional investors and hedge funds have recently made changes to their positions in USB. Stelac Advisory Services LLC bought a new stake in shares of U.S. Bancorp during the second quarter valued at about $103,000. Phocas Financial Corp. bought a new stake in shares of U.S. Bancorp during the second quarter valued at about $109,000. SRS Capital Advisors Inc. increased its position in shares of U.S. Bancorp by 17.0% during the first quarter. SRS Capital Advisors Inc. now owns 2,547 shares of the financial services provider’s stock valued at $131,000 after buying an additional 371 shares during the period. Orrstown Financial Services Inc. increased its position in shares of U.S. Bancorp by 30.4% during the second quarter. Orrstown Financial Services Inc. now owns 2,921 shares of the financial services provider’s stock valued at $152,000 after buying an additional 681 shares during the period. Finally, Pathstone Family Office LLC increased its position in shares of U.S. Bancorp by 13.2% during the second quarter. Pathstone Family Office LLC now owns 3,317 shares of the financial services provider’s stock valued at $172,000 after buying an additional 386 shares during the period. Hedge funds and other institutional investors own 73.95% of the company’s stock.
About U.S. Bancorp
U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.
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