Equities Analysts Offer Predictions for U.S. Bancorp’s Q2 2024 Earnings (NYSE:USB)

U.S. Bancorp (NYSE:USB) – Equities researchers at DA Davidson issued their Q2 2024 earnings estimates for shares of U.S. Bancorp in a report issued on Thursday, April 18th. DA Davidson analyst P. Winter anticipates 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.

Several other research firms also recently commented on USB. StockNews.com downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, February 20th. Jefferies Financial Group boosted their price objective on U.S. Bancorp from $44.00 to $46.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Royal Bank of Canada upped their target price on shares of U.S. Bancorp from $43.00 to $47.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. HSBC raised U.S. Bancorp from a “hold” rating to a “buy” rating and upped their target price for the stock from $47.00 to $53.00 in a research note on Thursday, March 28th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $45.00 price target (down from $52.00) on shares of U.S. Bancorp in a report on Thursday. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $46.68.

U.S. Bancorp Stock Performance

Shares of USB opened at $40.45 on Friday. The company has a market capitalization of $63.03 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 2.04 and a beta of 1.05. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07. The stock has a 50 day moving average of $42.32 and a 200 day moving average of $39.78. U.S. Bancorp has a 12 month low of $27.27 and a 12 month high of $45.85.

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

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.85%. The ex-dividend date of this dividend was Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.

Insider Activity

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

Institutional Trading of U.S. Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the business. BCK Partners Inc. bought a new stake in shares of U.S. Bancorp during the first quarter valued at approximately $2,514,000. Acadian Asset Management LLC grew its position in shares of U.S. Bancorp by 3.0% during the 1st quarter. Acadian Asset Management LLC now owns 9,397 shares of the financial services provider’s stock worth $499,000 after buying an additional 276 shares in the last quarter. Vontobel Holding Ltd. increased its stake in shares of U.S. Bancorp by 20.8% during the first quarter. Vontobel Holding Ltd. now owns 21,314 shares of the financial services provider’s stock valued at $1,176,000 after buying an additional 3,663 shares during the period. Prudential PLC bought a new position in U.S. Bancorp during the 1st quarter worth about $1,731,000. Finally, Candriam Luxembourg S.C.A. increased its position in U.S. Bancorp by 5.9% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 86,048 shares of the financial services provider’s stock valued at $4,573,000 after purchasing an additional 4,827 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

About U.S. Bancorp

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.