FY2024 Earnings Forecast for U.S. Bancorp (NYSE:USB) Issued By DA Davidson

U.S. Bancorp (NYSE:USB) – DA Davidson cut their FY2024 earnings estimates for shares of U.S. Bancorp in a research note issued on Thursday, June 27th. DA Davidson analyst P. Winter now expects that the financial services provider will post earnings of $3.86 per share for the year, down from their previous forecast of $3.88. DA Davidson currently has a “Neutral” rating and a $44.00 target price 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.

Other equities analysts also recently issued reports about the stock. HSBC raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and increased their price objective for the company from $47.00 to $53.00 in a report on Thursday, March 28th. UBS Group lowered their price target on 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. Jefferies Financial Group increased their price objective on U.S. Bancorp from $44.00 to $46.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Oppenheimer dropped their target price on shares of U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating for the company in a report on Thursday, April 18th. Finally, Evercore ISI boosted their price target on shares of U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 25th. Sixteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.02.

U.S. Bancorp Trading Up 0.1 %

Shares of NYSE:USB opened at $39.70 on Monday. The business’s 50 day moving average price is $40.35 and its 200-day moving average price is $41.70. U.S. Bancorp has a 1 year low of $30.47 and a 1 year high of $45.85. The firm has a market capitalization of $61.95 billion, a price-to-earnings ratio of 13.15, a price-to-earnings-growth ratio of 3.82 and a beta of 1.04. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. The firm had revenue of $6.72 billion for 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 company’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period last year, the firm earned $1.16 EPS.

Institutional Investors Weigh In On U.S. Bancorp

A number of large investors have recently modified their holdings of the company. Truist Financial Corp increased its holdings in shares of U.S. Bancorp by 1.4% in the 3rd quarter. Truist Financial Corp now owns 1,700,140 shares of the financial services provider’s stock valued at $56,207,000 after acquiring an additional 23,487 shares during the last quarter. Axxcess Wealth Management LLC raised its position in U.S. Bancorp by 8.0% during the 3rd quarter. Axxcess Wealth Management LLC now owns 15,019 shares of the financial services provider’s stock worth $497,000 after buying an additional 1,109 shares during the last quarter. Ameriprise Financial Inc. lifted its position in U.S. Bancorp by 26.9% in the third quarter. Ameriprise Financial Inc. now owns 3,369,395 shares of the financial services provider’s stock valued at $111,459,000 after purchasing an additional 713,211 shares during the period. Evergreen Capital Management LLC boosted its stake in shares of U.S. Bancorp by 60.2% in the third quarter. Evergreen Capital Management LLC now owns 14,489 shares of the financial services provider’s stock valued at $486,000 after buying an additional 5,447 shares in the last quarter. Finally, Legacy Advisors LLC grew its stake in shares of U.S. Bancorp by 1.7% during the 3rd quarter. Legacy Advisors LLC now owns 74,925 shares of the financial services provider’s stock worth $2,513,000 after purchasing an additional 1,239 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.49 per share. The ex-dividend date is Friday, June 28th. This represents a $1.96 annualized dividend and a yield of 4.94%. U.S. Bancorp’s dividend payout ratio (DPR) is 64.90%.

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.