FY2019 EPS Estimates for U.S. Bancorp (NYSE:USB) Boosted by Oppenheimer

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U.S. Bancorp (NYSE:USB) – Equities researchers at Oppenheimer raised their FY2019 earnings per share estimates for U.S. Bancorp in a research note issued on Wednesday, October 16th. Oppenheimer analyst C. Kotowski now forecasts that the financial services provider will post earnings per share of $4.38 for the year, up from their previous estimate of $4.35. Oppenheimer also issued estimates for U.S. Bancorp’s Q4 2019 earnings at $1.12 EPS, Q1 2020 earnings at $1.04 EPS, Q2 2020 earnings at $1.11 EPS, Q3 2020 earnings at $1.15 EPS, Q4 2020 earnings at $1.21 EPS and FY2020 earnings at $4.51 EPS.

A number of other brokerages have also weighed in on USB. Morgan Stanley increased their price target on U.S. Bancorp from $55.00 to $56.00 and gave the stock an “underweight” rating in a research note on Thursday, July 18th. Deutsche Bank set a $59.00 price target on U.S. Bancorp and gave the stock a “hold” rating in a research note on Friday, July 26th. Citigroup lowered U.S. Bancorp from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $54.00 to $49.00 in a research note on Tuesday, October 8th. Wedbush increased their price target on U.S. Bancorp from $46.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Finally, JPMorgan Chase & Co. raised U.S. Bancorp from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $52.50 to $57.00 in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $56.60.

Shares of U.S. Bancorp stock opened at $56.65 on Monday. U.S. Bancorp has a fifty-two week low of $43.14 and a fifty-two week high of $57.81. The firm has a market cap of $86.78 billion, a PE ratio of 13.82, a P/E/G ratio of 2.12 and a beta of 1.10. The business’s fifty day moving average is $54.57 and its two-hundred day moving average is $53.01. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.86.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.04. U.S. Bancorp had a return on equity of 15.39% and a net margin of 26.54%. The company had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the prior year, the company posted $1.06 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year.

A number of hedge funds and other institutional investors have recently made changes to their positions in USB. Brookmont Capital Management boosted its position in U.S. Bancorp by 0.5% in the 2nd quarter. Brookmont Capital Management now owns 36,674 shares of the financial services provider’s stock valued at $1,922,000 after buying an additional 195 shares during the last quarter. Plancorp LLC boosted its position in U.S. Bancorp by 0.4% in the 2nd quarter. Plancorp LLC now owns 48,413 shares of the financial services provider’s stock valued at $2,537,000 after buying an additional 195 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. boosted its position in U.S. Bancorp by 1.0% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 20,911 shares of the financial services provider’s stock valued at $1,157,000 after buying an additional 199 shares during the last quarter. Sky Investment Group LLC boosted its position in U.S. Bancorp by 1.8% in the 2nd quarter. Sky Investment Group LLC now owns 11,250 shares of the financial services provider’s stock valued at $590,000 after buying an additional 200 shares during the last quarter. Finally, Culbertson A N & Co. Inc. boosted its position in U.S. Bancorp by 0.5% in the 2nd quarter. Culbertson A N & Co. Inc. now owns 42,696 shares of the financial services provider’s stock valued at $2,237,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 75.51% of the company’s stock.

In related news, Vice Chairman Shailesh M. Kotwal sold 20,000 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $57.33, for a total value of $1,146,600.00. Following the completion of the sale, the insider now directly owns 65,959 shares in the company, valued at approximately $3,781,429.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David B. Omaley sold 10,133 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $55.76, for a total value of $565,016.08. Following the completion of the sale, the director now owns 191,754 shares of the company’s stock, valued at $10,692,203.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,119 shares of company stock valued at $2,341,334. Insiders own 0.24% of the company’s stock.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.97%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, September 27th. U.S. Bancorp’s dividend payout ratio is presently 40.98%.

U.S. Bancorp declared that its board has authorized a share repurchase plan on Thursday, June 27th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are often 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 in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

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Earnings History and Estimates for U.S. Bancorp (NYSE:USB)

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