What is DA Davidson's Forecast for U.S. Bancorp Q4 Earnings?

U.S. Bancorp (NYSE:USB - Free Report) - Research analysts at DA Davidson issued their Q4 2024 earnings per share estimates for U.S. Bancorp in a report released on Thursday, October 17th. DA Davidson analyst P. Winter anticipates that the financial services provider will earn $1.08 per share for the quarter. DA Davidson has a "Neutral" rating and a $54.00 price objective on the stock. The consensus estimate for U.S. Bancorp's current full-year earnings is $3.86 per share.

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 firm had revenue of $6.86 billion for the quarter, compared to analysts' expectations of $6.90 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The firm's revenue for the quarter was down 2.4% on a year-over-year basis. During the same period last year, the business posted $1.05 earnings per share.

A number of other equities analysts also recently commented on USB. JPMorgan Chase & Co. downgraded U.S. Bancorp from an "overweight" rating to a "neutral" rating and set a $43.50 target price for the company. in a research note on Thursday, June 27th. StockNews.com upgraded U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Wednesday, July 17th. Stephens raised their target price on U.S. Bancorp from $49.00 to $52.00 and gave the company an "equal weight" rating in a research note on Thursday. Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a research report on Thursday. Finally, Morgan Stanley raised shares of U.S. Bancorp from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $54.00 to $57.00 in a report on Monday, September 30th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, U.S. Bancorp presently has an average rating of "Hold" and an average target price of $50.71.

U.S. Bancorp Stock Performance

Shares of NYSE USB traded down $0.81 during midday trading on Friday, hitting $49.16. The company's stock had a trading volume of 10,951,213 shares, compared to its average volume of 8,392,604. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. U.S. Bancorp has a 1-year low of $30.47 and a 1-year high of $50.47. The firm's fifty day moving average price is $45.24 and its 200-day moving average price is $42.66. The firm has a market cap of $76.71 billion, a P/E ratio of 16.28, a P/E/G ratio of 3.32 and a beta of 1.03.

Hedge Funds Weigh In On U.S. Bancorp

A number of hedge funds have recently modified their holdings of the stock. Valmark Advisers Inc. boosted its stake in U.S. Bancorp by 2.9% in the 2nd quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider's stock worth $346,000 after purchasing an additional 242 shares during the period. Waldron Private Wealth LLC boosted its position in shares of U.S. Bancorp by 1.9% in the second quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider's stock worth $534,000 after buying an additional 247 shares during the period. Naples Global Advisors LLC grew its holdings in shares of U.S. Bancorp by 0.4% during 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 buying an additional 248 shares in the last quarter. Kavar Capital Partners Group LLC raised its position in 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 buying an additional 250 shares during the period. Finally, STAR Financial Bank lifted its stake in U.S. Bancorp by 3.3% in the 2nd quarter. STAR Financial Bank now owns 7,772 shares of the financial services provider's stock worth $309,000 after acquiring an additional 250 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.07%. This is a boost from U.S. Bancorp's previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. U.S. Bancorp's dividend payout ratio (DPR) is presently 66.23%.

U.S. Bancorp declared that its board has authorized a stock buyback plan on Thursday, September 12th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is 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.