Wedbush Comments on U.S. Bancorp’s Q1 2019 Earnings (USB)

U.S. Bancorp (NYSE:USB) – Stock analysts at Wedbush issued their Q1 2019 earnings estimates for U.S. Bancorp in a note issued to investors on Wednesday, April 18th. Wedbush analyst P. Winter expects that the financial services provider will post earnings of $1.01 per share for the quarter. Wedbush also issued estimates for U.S. Bancorp’s Q2 2019 earnings at $1.09 EPS, Q3 2019 earnings at $1.14 EPS and Q4 2019 earnings at $1.14 EPS.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, April 18th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.01. U.S. Bancorp had a net margin of 26.39% and a return on equity of 14.20%. The business had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.53 billion. During the same period last year, the business posted $0.82 EPS. U.S. Bancorp’s revenue was up 3.4% on a year-over-year basis.

Several other brokerages also recently issued reports on USB. Vining Sparks restated a “buy” rating and set a $61.00 price objective on shares of U.S. Bancorp in a research report on Friday, April 6th. Piper Jaffray upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $61.00 price objective for the company in a research report on Friday, January 5th. Royal Bank of Canada raised their price objective on shares of U.S. Bancorp to $61.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. Zacks Investment Research upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Friday, February 2nd. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $56.00 price objective on shares of U.S. Bancorp in a research report on Thursday, April 5th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. U.S. Bancorp has a consensus rating of “Hold” and an average target price of $58.45.

Shares of NYSE:USB opened at $50.54 on Monday. U.S. Bancorp has a 52-week low of $49.03 and a 52-week high of $58.50. The stock has a market capitalization of $83,305.41, a P/E ratio of 14.78, a PEG ratio of 1.66 and a beta of 0.94. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.81.

A number of large investors have recently made changes to their positions in the stock. Schaper Benz & Wise Investment Counsel Inc. WI increased its stake in U.S. Bancorp by 0.3% in the fourth quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 251,409 shares of the financial services provider’s stock valued at $13,470,000 after acquiring an additional 870 shares during the last quarter. Bollard Group LLC increased its stake in U.S. Bancorp by 0.5% in the fourth quarter. Bollard Group LLC now owns 172,019 shares of the financial services provider’s stock valued at $9,217,000 after acquiring an additional 905 shares during the last quarter. Schulhoff & Co. Inc. increased its stake in U.S. Bancorp by 0.8% in the fourth quarter. Schulhoff & Co. Inc. now owns 120,766 shares of the financial services provider’s stock valued at $6,470,000 after acquiring an additional 911 shares during the last quarter. RKL Wealth Management LLC increased its stake in U.S. Bancorp by 4.5% in the fourth quarter. RKL Wealth Management LLC now owns 21,452 shares of the financial services provider’s stock valued at $1,146,000 after acquiring an additional 922 shares during the last quarter. Finally, NBT Bank N A NY increased its stake in U.S. Bancorp by 1.7% in the third quarter. NBT Bank N A NY now owns 56,775 shares of the financial services provider’s stock valued at $3,042,000 after acquiring an additional 968 shares during the last quarter. 74.18% of the stock is currently owned by institutional investors and hedge funds.

In related news, Vice Chairman P.W. Parker sold 98,485 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $55.95, for a total value of $5,510,235.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Vice Chairman Gillern Jeffry H. Von sold 13,641 shares of U.S. Bancorp stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $55.02, for a total transaction of $750,527.82. Following the completion of the transaction, the insider now directly owns 126,387 shares in the company, valued at $6,953,812.74. The disclosure for this sale can be found here. Insiders have sold 168,016 shares of company stock worth $9,356,775 over the last ninety days. Insiders own 0.43% of the company’s stock.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 16th. Stockholders of record on Thursday, March 29th were issued a dividend of $0.30 per share. The ex-dividend date was Wednesday, March 28th. This represents a $1.20 annualized dividend and a dividend yield of 2.37%. U.S. Bancorp’s dividend payout ratio is presently 35.09%.

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U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

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

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