DA Davidson Analysts Decrease Earnings Estimates for U.S. Bancorp (NYSE:USB)

U.S. Bancorp (NYSE:USB) – Equities research analysts at DA Davidson lowered their FY2024 EPS estimates for U.S. Bancorp in a report issued on Thursday, June 27th. DA Davidson analyst P. Winter now forecasts that the financial services provider will post earnings of $3.86 per share for the year, down from their previous forecast of $3.88. DA Davidson has a “Neutral” rating and a $44.00 price objective on the stock. The consensus estimate for U.S. Bancorp’s current full-year earnings is $3.84 per share. DA Davidson also issued estimates for U.S. Bancorp’s FY2025 earnings at $4.27 EPS.

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

USB has been the subject of several other research reports. HSBC raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and increased their price target for the company from $47.00 to $53.00 in a research report on Thursday, March 28th. Evercore ISI raised their target price on U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. UBS Group reduced their price target on U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. JPMorgan Chase & Co. lowered U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective on the stock. in a research report on Thursday, June 27th. Finally, Jefferies Financial Group upped their target price on U.S. Bancorp from $44.00 to $46.00 and gave the company a “hold” rating in a report on Monday, April 8th. Sixteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $46.02.

U.S. Bancorp Stock Performance

NYSE:USB opened at $39.97 on Monday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82. U.S. Bancorp has a fifty-two week low of $30.47 and a fifty-two week high of $45.85. The firm has a market cap of $62.37 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 3.82 and a beta of 1.04. The business has a 50 day moving average price of $40.32 and a 200-day moving average price of $41.65.

Hedge Funds Weigh In On U.S. Bancorp

A number of hedge funds have recently added to or reduced their stakes in USB. Marcum Wealth LLC raised its position in U.S. Bancorp by 7.8% in the 2nd quarter. Marcum Wealth LLC now owns 10,767 shares of the financial services provider’s stock worth $427,000 after buying an additional 777 shares during the last quarter. GAMMA Investing LLC lifted its position in U.S. Bancorp by 44.0% during the second quarter. GAMMA Investing LLC now owns 26,323 shares of the financial services provider’s stock valued at $1,045,000 after purchasing an additional 8,039 shares during the period. Quent Capital LLC grew its position in U.S. Bancorp by 12.5% in the 1st quarter. Quent Capital LLC now owns 2,941 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 327 shares during the period. Abich Financial Wealth Management LLC raised its stake in U.S. Bancorp by 48.8% during the 1st quarter. Abich Financial Wealth Management LLC now owns 3,370 shares of the financial services provider’s stock valued at $151,000 after buying an additional 1,105 shares during the last quarter. Finally, Mosaic Family Wealth Partners LLC lifted its holdings in shares of U.S. Bancorp by 1.4% during the 1st quarter. Mosaic Family Wealth Partners LLC now owns 19,487 shares of the financial services provider’s stock valued at $871,000 after buying an additional 264 shares during the period. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date of this dividend is Friday, June 28th. U.S. Bancorp’s payout ratio is 64.90%.

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.