U.S. Bancorp (NYSE:USB) Expected to Post Q2 2019 Earnings of $1.06 Per Share
U.S. Bancorp (NYSE:USB) – Jefferies Financial Group lowered their Q2 2019 earnings estimates for shares of U.S. Bancorp in a report issued on Tuesday, July 9th. Jefferies Financial Group analyst K. Usdin now anticipates that the financial services provider will earn $1.06 per share for the quarter, down from their prior forecast of $1.07. Jefferies Financial Group also issued estimates for U.S. Bancorp’s Q3 2019 earnings at $1.09 EPS, Q4 2019 earnings at $1.09 EPS, FY2019 earnings at $4.25 EPS and FY2020 earnings at $4.40 EPS.
USB has been the subject of a number of other reports. Zacks Investment Research raised shares of GreenTree Hospitality Group from a “sell” rating to a “hold” rating in a report on Monday, April 15th. JPMorgan Chase & Co. initiated coverage on shares of Pinduoduo in a report on Tuesday. They issued an “underweight” rating and a $20.48 target price for the company. Finally, Oppenheimer set a $15.00 target price on shares of Strongbridge Biopharma and gave the company a “buy” rating in a report on Tuesday, March 26th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. U.S. Bancorp has a consensus rating of “Hold” and a consensus price target of $57.75.
U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, April 17th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.00. U.S. Bancorp had a net margin of 27.02% and a return on equity of 15.53%. The company had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.62 billion. During the same period last year, the company posted $0.96 earnings per share. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a $0.37 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.48 annualized dividend and a dividend yield of 2.76%. U.S. Bancorp’s dividend payout ratio is presently 36.10%.
U.S. Bancorp announced that its Board of Directors has initiated a share buyback program on Thursday, June 27th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 3.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
In other news, Vice Chairman Leslie V. Godridge sold 12,564 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $51.53, for a total value of $647,422.92. Following the sale, the insider now directly owns 39,330 shares in the company, valued at $2,026,674.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman James B. Kelligrew sold 20,000 shares of the stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $50.61, for a total transaction of $1,012,200.00. Following the completion of the sale, the insider now owns 49,495 shares in the company, valued at $2,504,941.95. The disclosure for this sale can be found here. Insiders sold 37,233 shares of company stock worth $1,907,734 over the last quarter. Company insiders own 0.24% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Executive Wealth Management LLC acquired a new stake in U.S. Bancorp during the fourth quarter worth approximately $27,000. Trustcore Financial Services LLC acquired a new stake in U.S. Bancorp during the first quarter worth approximately $28,000. ERTS Wealth Advisors LLC acquired a new stake in U.S. Bancorp during the fourth quarter worth approximately $36,000. Catamount Wealth Management boosted its position in U.S. Bancorp by 525.0% during the first quarter. Catamount Wealth Management now owns 750 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 630 shares during the last quarter. Finally, New Potomac Partners LLC acquired a new stake in U.S. Bancorp during the first quarter worth approximately $37,000. Hedge funds and other institutional investors own 74.61% of the company’s stock.
U.S. Bancorp Company Profile
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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