FY2018 Earnings Forecast for U.S. Bancorp Issued By Oppenheimer (USB)
U.S. Bancorp (NYSE:USB) – Investment analysts at Oppenheimer lifted their FY2018 earnings estimates for shares of U.S. Bancorp in a note issued to investors on Tuesday. Oppenheimer analyst B. Chittenden now forecasts that the financial services provider will earn $3.84 per share for the year, up from their prior forecast of $3.74. Oppenheimer currently has a “Hold” rating on the stock.
Several other equities analysts have also commented on USB. Piper Jaffray Companies upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $61.00 price target on the stock in a research note on Friday. Barclays increased their price target on shares of U.S. Bancorp from $60.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. UBS Group lowered shares of U.S. Bancorp from a “buy” rating to a “neutral” rating and increased their price target for the company from $58.00 to $60.00 in a research note on Tuesday, December 12th. JPMorgan Chase & Co. dropped their price target on shares of U.S. Bancorp from $55.50 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 1st. Finally, Zacks Investment Research upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $55.71.
Shares of U.S. Bancorp (USB) opened at $55.32 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.82 and a current ratio of 0.83. U.S. Bancorp has a one year low of $49.53 and a one year high of $56.61. The firm has a market cap of $91,800.00, a P/E ratio of 16.46, a P/E/G ratio of 1.94 and a beta of 0.85.
U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.88. U.S. Bancorp had a net margin of 25.46% and a return on equity of 13.91%. The firm had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.60 billion. During the same period in the prior year, the firm earned $0.84 earnings per share. The business’s quarterly revenue was up 4.1% compared to the same quarter last year.
Several hedge funds have recently made changes to their positions in the company. Renaissance Investment Group LLC increased its position in U.S. Bancorp by 1.9% during the 4th quarter. Renaissance Investment Group LLC now owns 113,136 shares of the financial services provider’s stock worth $6,062,000 after purchasing an additional 2,110 shares in the last quarter. Pensionfund Sabic purchased a new stake in U.S. Bancorp during the 4th quarter worth about $2,465,000. Pensionfund DSM Netherlands purchased a new stake in U.S. Bancorp during the 4th quarter worth about $4,876,000. Atlantic Trust Group LLC increased its position in U.S. Bancorp by 1.7% during the 3rd quarter. Atlantic Trust Group LLC now owns 2,776,819 shares of the financial services provider’s stock worth $148,809,000 after purchasing an additional 46,802 shares in the last quarter. Finally, AXA grew its holdings in U.S. Bancorp by 0.5% in the 3rd quarter. AXA now owns 1,660,926 shares of the financial services provider’s stock valued at $89,009,000 after buying an additional 9,046 shares during the period. Institutional investors and hedge funds own 73.95% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Thursday, December 28th. U.S. Bancorp’s dividend payout ratio is currently 35.71%.
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About U.S. Bancorp
U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.
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