Jefferies Financial Group Brokers Cut Earnings Estimates for U.S. Bancorp (USB)

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U.S. Bancorp (NYSE:USB) – Analysts at Jefferies Financial Group dropped their Q2 2019 earnings estimates for U.S. Bancorp in a report released on Wednesday, October 17th. Jefferies Financial Group analyst K. Usdin now anticipates that the financial services provider will post earnings of $1.08 per share for the quarter, down from their previous forecast of $1.09. Jefferies Financial Group also issued estimates for U.S. Bancorp’s Q3 2019 earnings at $1.14 EPS and Q4 2019 earnings at $1.14 EPS.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, October 17th. The financial services provider reported $1.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.02. U.S. Bancorp had a return on equity of 15.14% and a net margin of 27.53%. The business had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.68 billion. During the same period in the previous year, the business earned $0.88 EPS. The business’s quarterly revenue was up 1.6% on a year-over-year basis.

A number of other brokerages also recently weighed in on USB. ValuEngine upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, July 26th. Zacks Investment Research downgraded U.S. Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, September 25th. Nomura lowered their price target on U.S. Bancorp from $60.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday. Oppenheimer upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $62.00 price target for the company in a report on Thursday. Finally, UBS Group upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating in a research note on Thursday. Three analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. U.S. Bancorp presently has a consensus rating of “Hold” and a consensus target price of $59.58.

Shares of NYSE USB opened at $52.50 on Friday. U.S. Bancorp has a twelve month low of $48.49 and a twelve month high of $58.50. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $86.18 billion, a PE ratio of 15.35, a PEG ratio of 1.73 and a beta of 0.98.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were paid a dividend of $0.37 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.30. This represents a $1.48 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend was Thursday, September 27th. U.S. Bancorp’s dividend payout ratio is presently 43.27%.

In related news, Vice Chairman John R. Elmore sold 58,924 shares of the company’s stock in a transaction on Monday, July 23rd. The stock was sold at an average price of $51.71, for a total transaction of $3,046,960.04. Following the completion of the transaction, the insider now directly owns 98,371 shares in the company, valued at approximately $5,086,764.41. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.43% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of USB. Massachusetts Financial Services Co. MA boosted its position in U.S. Bancorp by 0.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 41,034,263 shares of the financial services provider’s stock worth $2,052,534,000 after acquiring an additional 124,650 shares during the period. Bank of New York Mellon Corp boosted its position in U.S. Bancorp by 15.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 15,867,860 shares of the financial services provider’s stock worth $793,710,000 after acquiring an additional 2,071,326 shares during the period. Janus Henderson Group PLC boosted its position in U.S. Bancorp by 8.5% during the 2nd quarter. Janus Henderson Group PLC now owns 12,146,468 shares of the financial services provider’s stock worth $607,565,000 after acquiring an additional 946,517 shares during the period. American Century Companies Inc. boosted its position in U.S. Bancorp by 1.9% during the 2nd quarter. American Century Companies Inc. now owns 10,220,827 shares of the financial services provider’s stock worth $511,246,000 after acquiring an additional 186,828 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in U.S. Bancorp by 2.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 5,861,928 shares of the financial services provider’s stock worth $293,214,000 after acquiring an additional 132,854 shares during the period. Hedge funds and other institutional investors own 74.41% of the company’s stock.

About U.S. Bancorp

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.

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

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