Wedbush Research Analysts Increase Earnings Estimates for U.S. Bancorp (NYSE:USB)

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U.S. Bancorp (NYSE:USB) – Equities researchers at Wedbush raised their Q3 2020 earnings per share (EPS) estimates for shares of U.S. Bancorp in a research report issued on Monday, June 29th. Wedbush analyst P. Winter now expects that the financial services provider will post earnings of $0.51 per share for the quarter, up from their prior forecast of $0.50. Wedbush also issued estimates for U.S. Bancorp’s Q4 2020 earnings at $0.57 EPS, Q2 2021 earnings at $0.70 EPS, Q3 2021 earnings at $0.83 EPS, Q4 2021 earnings at $0.84 EPS and FY2021 earnings at $2.90 EPS.

USB has been the topic of several other research reports. Robert W. Baird upgraded shares of U.S. Bancorp from a “neutral” rating to an “outperform” rating and set a $56.00 price target on the stock in a research note on Tuesday, March 17th. Royal Bank of Canada reiterated a “buy” rating and issued a $48.00 target price on shares of U.S. Bancorp in a research note on Wednesday, April 8th. Nomura Securities upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their target price for the company from $35.00 to $46.00 in a research note on Thursday, April 16th. Stephens lowered their target price on shares of U.S. Bancorp from $47.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 16th. Finally, Deutsche Bank lowered their target price on shares of U.S. Bancorp from $60.00 to $42.00 and set a “hold” rating on the stock in a research note on Thursday, April 2nd. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $47.16.

Shares of USB opened at $36.35 on Wednesday. The company’s fifty day moving average is $36.42 and its 200-day moving average is $44.13. U.S. Bancorp has a 12 month low of $28.36 and a 12 month high of $61.11. The firm has a market cap of $54.32 billion, a price-to-earnings ratio of 9.42, a price-to-earnings-growth ratio of 2.73 and a beta of 1.15. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.13.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.14. U.S. Bancorp had a net margin of 23.37% and a return on equity of 14.15%. The company had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the prior year, the business posted $1.00 EPS. U.S. Bancorp’s quarterly revenue was up 3.5% on a year-over-year basis.

Several institutional investors have recently made changes to their positions in the stock. Covington Capital Management increased its position in shares of U.S. Bancorp by 1.2% during the 4th quarter. Covington Capital Management now owns 15,878 shares of the financial services provider’s stock worth $941,000 after purchasing an additional 192 shares in the last quarter. Lee Danner & Bass Inc. increased its position in shares of U.S. Bancorp by 1.8% during the 4th quarter. Lee Danner & Bass Inc. now owns 12,493 shares of the financial services provider’s stock worth $741,000 after purchasing an additional 220 shares in the last quarter. Mid Atlantic Financial Management Inc. ADV increased its position in shares of U.S. Bancorp by 3.9% during the 4th quarter. Mid Atlantic Financial Management Inc. ADV now owns 7,286 shares of the financial services provider’s stock worth $432,000 after purchasing an additional 274 shares in the last quarter. Laurel Wealth Advisors LLC increased its position in shares of U.S. Bancorp by 3.6% during the 1st quarter. Laurel Wealth Advisors LLC now owns 8,614 shares of the financial services provider’s stock worth $297,000 after purchasing an additional 296 shares in the last quarter. Finally, Wealthspire Advisors L.P. increased its position in shares of U.S. Bancorp by 1.3% during the 4th quarter. Wealthspire Advisors L.P. now owns 23,011 shares of the financial services provider’s stock worth $1,364,000 after purchasing an additional 302 shares in the last quarter. Institutional investors and hedge funds own 73.64% of the company’s stock.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date is Monday, June 29th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 38.71%.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in 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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