U.S. Bancorp (NYSE:USB) Forecasted to Post Q2 2024 Earnings of $0.95 Per Share

U.S. Bancorp (NYSE:USB) – Analysts at DA Davidson issued their Q2 2024 earnings per share estimates for U.S. Bancorp in a research note issued on Thursday, April 18th. DA Davidson analyst P. Winter expects that the financial services provider will post earnings per share of $0.95 for the quarter. DA Davidson has a “Neutral” rating and a $44.00 price target on the stock. The consensus estimate for U.S. Bancorp’s current full-year earnings is $3.87 per share. DA Davidson also issued estimates for U.S. Bancorp’s FY2024 earnings at $3.88 EPS.

A number of other research firms have also commented on USB. Piper Sandler reiterated a “neutral” rating on shares of U.S. Bancorp in a research note on Friday, January 26th. Wells Fargo & Company dropped their price objective on U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday. Barclays dropped their price objective on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating on the stock in a research note on Thursday. Oppenheimer dropped their price objective on U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Morgan Stanley lifted their price objective on U.S. Bancorp from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 30th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $46.91.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $39.44 on Friday. U.S. Bancorp has a fifty-two week low of $27.27 and a fifty-two week high of $45.85. The business has a 50-day moving average of $42.31 and a two-hundred day moving average of $39.72. The stock has a market capitalization of $61.45 billion, a P/E ratio of 13.06, a P/E/G ratio of 2.04 and a beta of 1.05. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. CGC Financial Services LLC acquired a new position in shares of U.S. Bancorp in the 4th quarter valued at $25,000. BKM Wealth Management LLC acquired a new position in shares of U.S. Bancorp in the 4th quarter valued at $26,000. Planned Solutions Inc. acquired a new position in shares of U.S. Bancorp in the 4th quarter valued at $27,000. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of U.S. Bancorp in the 1st quarter valued at $30,000. Finally, Naples Money Management LLC bought a new stake in shares of U.S. Bancorp in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Transactions at U.S. Bancorp

In other news, EVP James L. Chosy sold 21,582 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $41.47, for a total value of $895,005.54. Following the transaction, the executive vice president now directly owns 164,880 shares of the company’s stock, valued at approximately $6,837,573.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction of $895,005.54. Following the transaction, the executive vice president now owns 164,880 shares of the company’s stock, valued at approximately $6,837,573.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Terrance R. Dolan sold 26,583 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total value of $1,152,904.71. Following the transaction, the insider now directly owns 144,236 shares in the company, valued at approximately $6,255,515.32. The disclosure for this sale can be found here. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 4.97%. The ex-dividend date of this dividend was Wednesday, March 27th. 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.