DA Davidson Increases Earnings Estimates for U.S. Bancorp

U.S. Bancorp (NYSE:USB) – Equities research analysts at DA Davidson boosted their FY2024 earnings per share (EPS) estimates for U.S. Bancorp in a research note issued to investors on Thursday, October 17th. DA Davidson analyst P. Winter now anticipates that the financial services provider will earn $3.99 per share for the year, up from their previous forecast 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.

Several other equities research analysts have also recently weighed in on USB. JPMorgan Chase & Co. cut U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price target for the company. in a research note on Thursday, June 27th. Citigroup raised their price target on shares of U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Barclays upped their price objective on shares of U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Oppenheimer lifted their target price on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $50.71.

U.S. Bancorp Stock Performance

NYSE USB opened at $48.03 on Monday. The company has a market capitalization of $74.95 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 3.32 and a beta of 1.03. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $50.47. The stock has a fifty day simple moving average of $45.48 and a 200 day simple moving average of $42.73.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.04. The firm had revenue of $6.86 billion during 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 revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.05 EPS.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.50 dividend. 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 4.16%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 66.23%.

U.S. Bancorp announced that its Board of Directors has initiated a share buyback program on Thursday, September 12th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the completion of the sale, the insider now owns 129,790 shares in the company, valued at approximately $6,363,603.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.23% of the stock is currently owned by insiders.

Institutional Trading of U.S. Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. McAdam LLC boosted its position in shares of U.S. Bancorp by 2.5% during the third quarter. McAdam LLC now owns 8,503 shares of the financial services provider’s stock valued at $389,000 after buying an additional 209 shares during the last quarter. Valmark Advisers Inc. boosted its holdings in U.S. Bancorp by 2.9% during the 2nd quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock worth $346,000 after acquiring an additional 242 shares during the last quarter. Waldron Private Wealth LLC grew its stake in shares of U.S. Bancorp by 1.9% in the 2nd quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock worth $534,000 after acquiring an additional 247 shares in the last quarter. Naples Global Advisors LLC raised its holdings in shares of U.S. Bancorp by 0.4% in the second quarter. Naples Global Advisors LLC now owns 65,360 shares of the financial services provider’s stock valued at $2,624,000 after purchasing an additional 248 shares during the last quarter. Finally, Kavar Capital Partners Group LLC lifted its position in shares of U.S. Bancorp by 4.7% during the second quarter. Kavar Capital Partners Group LLC now owns 5,555 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 250 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

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.