U.S. Bancorp (NYSE:USB) Forecasted to Post Q2 2024 Earnings of $0.95 Per Share

U.S. Bancorp (NYSE:USB) – Equities research analysts at DA Davidson issued their Q2 2024 earnings per share estimates for U.S. Bancorp in a report issued on Thursday, April 18th. DA Davidson analyst P. Winter anticipates that the financial services provider will post earnings of $0.95 per share for the quarter. DA Davidson has a “Neutral” rating and a $44.00 price objective on the stock. The consensus estimate for U.S. Bancorp’s current full-year earnings is $3.87 per share. DA Davidson also issued estimates for U.S. Bancorp’s FY2024 earnings at $3.88 EPS.

Other research analysts have also issued research reports about the company. Royal Bank of Canada boosted their target price on U.S. Bancorp from $43.00 to $47.00 and gave the company an “outperform” rating in a report on Thursday, January 18th. Barclays dropped their price objective on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating on the stock in a report on Thursday. Piper Sandler reaffirmed a “neutral” rating on shares of U.S. Bancorp in a report on Friday, January 26th. Morgan Stanley upped their price objective on U.S. Bancorp from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th. Finally, HSBC raised U.S. Bancorp from a “hold” rating to a “buy” rating and upped their price objective for the stock from $47.00 to $53.00 in a report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $46.91.

U.S. Bancorp Trading Down 0.2 %

NYSE:USB opened at $39.44 on Friday. The firm has a market cap of $61.45 billion, a P/E ratio of 13.06, a PEG ratio of 2.04 and a beta of 1.05. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07. The stock’s 50 day simple moving average is $42.31 and its 200-day simple moving average is $39.72. U.S. Bancorp has a 12-month low of $27.27 and a 12-month high of $45.85.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. The company had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $6.71 billion. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.16 earnings per share.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.96 annualized dividend and a yield of 4.97%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.

Insider Transactions at U.S. Bancorp

In other news, insider Terrance R. Dolan sold 26,583 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total value of $1,152,904.71. Following the transaction, the insider now directly owns 144,236 shares in the company, valued at approximately $6,255,515.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP James L. Chosy sold 21,582 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $41.47, for a total value of $895,005.54. Following the transaction, the executive vice president now directly owns 164,880 shares in the company, valued at approximately $6,837,573.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Terrance R. Dolan sold 26,583 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total value of $1,152,904.71. Following the completion of the transaction, the insider now owns 144,236 shares in the company, valued at $6,255,515.32. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On U.S. Bancorp

Large investors have recently modified their holdings of the stock. CGC Financial Services LLC acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at about $25,000. BKM Wealth Management LLC bought a new position in U.S. Bancorp during the 4th quarter worth approximately $26,000. Planned Solutions Inc. bought a new position in U.S. Bancorp during the 4th quarter worth approximately $27,000. Legacy Financial Group LLC bought a new position in U.S. Bancorp during the 3rd quarter worth approximately $30,000. Finally, Naples Money Management LLC bought a new position in U.S. Bancorp during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

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.