The U.S. Bancorp to Post Q1 2017 Earnings of $0.78 Per Share, Oppenheimer Holdings Forecasts (USB)

The U.S. Bancorp to Post Q1 2017 Earnings of $0.78 Per Share, Oppenheimer Holdings Forecasts (USB)

U.S. Bancorp (NYSE:USB) – Research analysts at Oppenheimer Holdings issued their Q1 2017 earnings estimates for shares of U.S. Bancorp in a note issued to investors on Wednesday. Oppenheimer Holdings analyst B. Chittenden forecasts that the firm will post earnings of $0.78 per share for the quarter. Oppenheimer Holdings has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for U.S. Bancorp’s Q2 2017 earnings at $0.87 EPS, Q3 2017 earnings at $0.90 EPS, Q4 2017 earnings at $0.89 EPS, FY2017 earnings at $3.44 EPS and FY2018 earnings at $3.76 EPS.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, January 18th. The financial services provider reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.01. U.S. Bancorp had a return on equity of 13.88% and a net margin of 25.89%. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.38 billion. During the same quarter in the previous year, the firm earned $0.79 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis.

USB has been the subject of a number of other reports. Zacks Investment Research upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Friday, October 21st. Deutsche Bank AG raised their target price on U.S. Bancorp from $46.00 to $54.00 and gave the company a “hold” rating in a report on Wednesday, November 30th. Susquehanna cut U.S. Bancorp from a “positive” rating to a “neutral” rating in a report on Thursday, December 1st. They noted that the move was a valuation call. Royal Bank Of Canada raised their target price on U.S. Bancorp from $47.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday, October 20th. Finally, Wedbush raised their target price on U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, November 30th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $47.35.

Shares of U.S. Bancorp (NYSE:USB) opened at 51.20 on Monday. U.S. Bancorp has a 52 week low of $37.07 and a 52 week high of $52.68. The stock has a market cap of $86.89 billion, a price-to-earnings ratio of 15.80 and a beta of 0.84. The stock’s 50 day moving average price is $51.26 and its 200-day moving average price is $45.30.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 17th. Shareholders of record on Friday, December 30th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.19%. The ex-dividend date was Wednesday, December 28th. U.S. Bancorp’s dividend payout ratio (DPR) is 34.46%.

In other U.S. Bancorp news, Vice Chairman Terrance R. Dolan sold 101,334 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, January 19th. The stock was sold at an average price of $50.63, for a total transaction of $5,130,540.42. Following the transaction, the insider now owns 115,124 shares of the company’s stock, valued at $5,828,728.12. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Vice Chairman John R. Elmore sold 40,000 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, October 25th. The stock was sold at an average price of $43.83, for a total value of $1,753,200.00. Following the transaction, the insider now directly owns 113,723 shares in the company, valued at approximately $4,984,479.09. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,155,227 shares of company stock worth $52,604,975. 0.68% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Institutional Trust Company N.A. increased its position in shares of U.S. Bancorp by 0.5% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 42,512,655 shares of the financial services provider’s stock valued at $1,823,368,000 after buying an additional 230,566 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of U.S. Bancorp by 19.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 34,933,283 shares of the financial services provider’s stock valued at $1,408,860,000 after buying an additional 5,736,183 shares during the period. BlackRock Fund Advisors increased its position in shares of U.S. Bancorp by 3.2% in the third quarter. BlackRock Fund Advisors now owns 21,411,450 shares of the financial services provider’s stock valued at $918,337,000 after buying an additional 666,679 shares during the period. Credit Suisse AG increased its position in shares of U.S. Bancorp by 76.5% in the third quarter. Credit Suisse AG now owns 18,346,041 shares of the financial services provider’s stock valued at $786,862,000 after buying an additional 7,952,199 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of U.S. Bancorp by 0.4% in the third quarter. Bank of New York Mellon Corp now owns 15,764,899 shares of the financial services provider’s stock valued at $676,158,000 after buying an additional 63,302 shares during the period. Institutional investors own 72.22% of the company’s stock.

About U.S. Bancorp

U.S. Bancorp is a multi-state financial services holding company. The Company’s banking subsidiary, U.S. Bank National Association, is engaged in the general banking business in domestic markets. It provides a range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services.

Related posts

Leave a Comment