FY2024 EPS Estimates for U.S. Bancorp (NYSE:USB) Cut by Analyst

U.S. Bancorp (NYSE:USB) – Equities researchers at DA Davidson reduced their FY2024 earnings per share estimates for U.S. Bancorp in a note issued to investors on Thursday, June 27th. DA Davidson analyst P. Winter now anticipates that the financial services provider will earn $3.86 per share for the year, down from their previous forecast of $3.88. DA Davidson currently has a “Neutral” rating and a $44.00 target price on the stock. The consensus estimate for U.S. Bancorp’s current full-year earnings is $3.84 per share. DA Davidson also issued estimates for U.S. Bancorp’s FY2025 earnings at $4.27 EPS.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.01. The company had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.71 billion. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period last year, the company earned $1.16 EPS.

A number of other research analysts have also weighed in on USB. Morgan Stanley reissued an “equal weight” rating and set a $45.00 price target on shares of U.S. Bancorp in a research note on Friday, June 21st. Royal Bank of Canada reiterated an “outperform” rating and set a $47.00 target price on shares of U.S. Bancorp in a research report on Thursday, May 16th. Compass Point upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price target for the company from $46.00 to $49.00 in a report on Friday, March 22nd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $45.00 price objective (down from $52.00) on shares of U.S. Bancorp in a report on Thursday, April 18th. Finally, StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, June 14th. Sixteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, U.S. Bancorp currently has a consensus rating of “Hold” and a consensus target price of $46.02.

U.S. Bancorp Stock Up 1.9 %

Shares of NYSE USB opened at $39.97 on Monday. The firm has a market cap of $62.37 billion, a P/E ratio of 13.24, a price-to-earnings-growth ratio of 3.82 and a beta of 1.04. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82. U.S. Bancorp has a 1 year low of $30.47 and a 1 year high of $45.85. The firm’s 50 day moving average price is $40.32 and its 200 day moving average price is $41.65.

Institutional Investors Weigh In On U.S. Bancorp

A number of large investors have recently added to or reduced their stakes in the company. CGC Financial Services LLC acquired a new position in shares of U.S. Bancorp in the 4th quarter valued at approximately $25,000. BKM Wealth Management LLC acquired a new stake in U.S. Bancorp in the fourth quarter valued at $26,000. Planned Solutions Inc. bought a new position in U.S. Bancorp during the 4th quarter valued at $27,000. Financial Synergies Wealth Advisors Inc. acquired a new position in U.S. Bancorp during the 1st quarter worth $30,000. Finally, LRI Investments LLC bought a new stake in shares of U.S. Bancorp in the 1st quarter worth about $31,000. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.90%. U.S. Bancorp’s payout ratio is currently 64.90%.

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.