Q4 Earnings Estimate for U.S. Bancorp Issued By DA Davidson

U.S. Bancorp (NYSE:USB - Free Report) - Research analysts at DA Davidson lowered their Q4 2024 earnings per share (EPS) estimates for shares of U.S. Bancorp in a note issued to investors on Thursday, December 19th. DA Davidson analyst P. Winter now expects that the financial services provider will earn $1.07 per share for the quarter, down from their previous forecast of $1.08. DA Davidson has a "Neutral" rating and a $54.00 price target on the stock. The consensus estimate for U.S. Bancorp's current full-year earnings is $3.93 per share. DA Davidson also issued estimates for U.S. Bancorp's FY2025 earnings at $4.40 EPS.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.04. The business had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. U.S. Bancorp's quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the company posted $1.05 earnings per share.

A number of other research firms also recently weighed in on USB. Barclays lifted their target price on U.S. Bancorp from $52.00 to $57.00 and gave the stock an "overweight" rating in a research report on Thursday, October 17th. Piper Sandler lifted their price objective on U.S. Bancorp from $52.00 to $58.00 and gave the stock a "neutral" rating in a report on Tuesday, December 3rd. Evercore ISI upped their target price on U.S. Bancorp from $51.00 to $54.00 and gave the company an "in-line" rating in a research note on Wednesday, October 30th. The Goldman Sachs Group decreased their price target on shares of U.S. Bancorp from $48.00 to $46.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 11th. Finally, Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a research note on Thursday, October 17th. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, U.S. Bancorp presently has a consensus rating of "Hold" and a consensus price target of $53.68.

U.S. Bancorp Stock Performance

Shares of NYSE:USB traded up $0.51 on Friday, hitting $47.92. 19,759,879 shares of the company were exchanged, compared to its average volume of 8,272,881. The company's 50 day moving average price is $50.18 and its two-hundred day moving average price is $45.50. The firm has a market capitalization of $74.76 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 3.03 and a beta of 1.03. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98.

Hedge Funds Weigh In On U.S. Bancorp

Several large investors have recently made changes to their positions in USB. Lantz Financial LLC grew its position in shares of U.S. Bancorp by 4.7% during the 2nd quarter. Lantz Financial LLC now owns 48,116 shares of the financial services provider's stock worth $1,910,000 after buying an additional 2,179 shares during the period. Assenagon Asset Management S.A. grew its holdings in U.S. Bancorp by 1.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 42,570 shares of the financial services provider's stock worth $1,690,000 after acquiring an additional 775 shares during the period. 1620 Investment Advisors Inc. bought a new stake in shares of U.S. Bancorp during the 2nd quarter valued at $30,000. Hennessy Advisors Inc. lifted its stake in shares of U.S. Bancorp by 16.7% in the 2nd quarter. Hennessy Advisors Inc. now owns 14,000 shares of the financial services provider's stock valued at $556,000 after purchasing an additional 2,000 shares during the period. Finally, &PARTNERS boosted its position in shares of U.S. Bancorp by 564.8% in the 2nd quarter. &PARTNERS now owns 41,865 shares of the financial services provider's stock worth $1,662,000 after purchasing an additional 35,568 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

Insider Buying and Selling

In other news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction on Friday, October 18th. The stock was sold at an average price of $49.03, for a total value of $1,225,750.00. Following the completion of the sale, the insider now directly owns 129,790 shares of the company's stock, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.50 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.17%. U.S. Bancorp's dividend payout ratio is 61.16%.

U.S. Bancorp declared that its Board of Directors has initiated a share buyback program on Thursday, September 12th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

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.