U.S. Bancorp to Post FY2018 Earnings of $3.80 Per Share, Jefferies Group Forecasts (USB)
U.S. Bancorp (NYSE:USB) – Research analysts at Jefferies Group issued their FY2018 earnings estimates for shares of U.S. Bancorp in a research report issued on Friday. Jefferies Group analyst K. Usdin anticipates that the brokerage will post earnings of $3.80 per share for the year. Jefferies Group currently has a “Hold” rating and a $44.00 target price on the stock.
U.S. Bancorp (NYSE:USB) last posted its earnings results on Friday, July 15th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.03. The company earned $5.45 billion during the quarter. U.S. Bancorp had a net margin of 26.56% and a return on equity of 14.05%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.80 EPS.
Several other analysts have also issued reports on USB. Deutsche Bank AG reiterated a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, June 15th. Keefe, Bruyette & Woods reduced their target price on shares of U.S. Bancorp from $45.00 to $43.00 and set a “market perform” rating for the company in a research note on Tuesday, July 5th. Wells Fargo & Co. reiterated a “buy” rating on shares of U.S. Bancorp in a research note on Saturday, July 9th. Barclays PLC reiterated a “buy” rating on shares of U.S. Bancorp in a research note on Saturday, July 9th. Finally, Nomura reiterated a “buy” rating on shares of U.S. Bancorp in a research note on Saturday, July 9th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $45.21.
U.S. Bancorp (NYSE:USB) traded up 0.25% during mid-day trading on Monday, hitting $43.40. 4,025,201 shares of the stock were exchanged. U.S. Bancorp has a 52 week low of $37.07 and a 52 week high of $44.58. The stock’s 50-day moving average is $43.34 and its 200 day moving average is $42.08. The company has a market capitalization of $74.28 billion, a PE ratio of 13.61 and a beta of 0.82.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.58%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, September 28th. U.S. Bancorp’s dividend payout ratio is presently 35.00%.
In related news, Vice Chairman Gillern Jeffry H. Von sold 102,961 shares of the company’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $42.00, for a total value of $4,324,362.00. Following the transaction, the insider now directly owns 178,422 shares in the company, valued at $7,493,724. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Craig E. Gifford sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $41.87, for a total transaction of $104,675.00. Following the completion of the transaction, the executive vice president now owns 49,881 shares in the company, valued at $2,088,517.47. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Peapack Gladstone Financial Corp boosted its position in U.S. Bancorp by 9.3% in the first quarter. Peapack Gladstone Financial Corp now owns 179,414 shares of the financial services provider’s stock valued at $7,282,000 after buying an additional 15,220 shares during the period. Sentry Investment Management LLC boosted its position in U.S. Bancorp by 0.6% in the first quarter. Sentry Investment Management LLC now owns 128,964 shares of the financial services provider’s stock valued at $5,235,000 after buying an additional 802 shares during the period. BlackRock Japan Co. Ltd boosted its position in U.S. Bancorp by 1.9% in the first quarter. BlackRock Japan Co. Ltd now owns 2,258,455 shares of the financial services provider’s stock valued at $91,671,000 after buying an additional 42,414 shares during the period. BlackRock Group LTD boosted its position in U.S. Bancorp by 3.1% in the first quarter. BlackRock Group LTD now owns 15,988,334 shares of the financial services provider’s stock valued at $648,967,000 after buying an additional 478,684 shares during the period. Finally, Franklin Resources Inc. boosted its position in U.S. Bancorp by 8.0% in the first quarter. Franklin Resources Inc. now owns 17,805,686 shares of the financial services provider’s stock valued at $722,733,000 after buying an additional 1,324,977 shares during the period. Institutional investors own 72.58% of the company’s stock.
U.S. Bancorp Company Profile
U.S. Bancorp is a multi-state financial services holding company. The Company’s banking subsidiary, U.S. Bank National Association, is engaged in the general banking business in domestic markets. It provides a range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services.
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