U.S. Bancorp (NYSE:USB) Expected to Post Q2 2024 Earnings of $0.95 Per Share

U.S. Bancorp (NYSE:USB - Free Report) - Investment analysts at DA Davidson issued their Q2 2024 earnings per share estimates for U.S. Bancorp in a research note issued on Thursday, April 18th. DA Davidson analyst P. Winter anticipates that the financial services provider will post earnings per share of $0.95 for the quarter. DA Davidson has a "Neutral" rating and a $44.00 price target on the stock. The consensus estimate for U.S. Bancorp's current full-year earnings is $3.87 per share. DA Davidson also issued estimates for U.S. Bancorp's FY2024 earnings at $3.88 EPS.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.89 by $0.01. The firm had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.71 billion. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The business's revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.16 earnings per share.

USB has been the topic of a number of other research reports. Royal Bank of Canada boosted their price objective on U.S. Bancorp from $43.00 to $47.00 and gave the stock an "outperform" rating in a research note on Thursday, January 18th. Oppenheimer cut their target price on U.S. Bancorp from $55.00 to $54.00 and set an "outperform" rating for the company in a research note on Thursday. Evercore ISI raised their target price on U.S. Bancorp from $46.00 to $48.00 and gave the stock an "in-line" rating in a research note on Thursday, March 28th. Morgan Stanley raised their target price on U.S. Bancorp from $44.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 30th. Finally, Wells Fargo & Company cut their target price on U.S. Bancorp from $50.00 to $48.00 and set an "overweight" rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $46.68.

U.S. Bancorp Price Performance

USB traded up $1.01 on Friday, reaching $40.45. 12,037,614 shares of the company's stock were exchanged, compared to its average volume of 8,840,654. The stock has a market cap of $63.03 billion, a PE ratio of 13.39, a P/E/G ratio of 2.04 and a beta of 1.05. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81. U.S. Bancorp has a twelve month low of $27.27 and a twelve month high of $45.85. The stock's fifty day moving average price is $42.32 and its 200-day moving average price is $39.78.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 4.85%. The ex-dividend date of this dividend was Wednesday, March 27th. U.S. Bancorp's dividend payout ratio (DPR) is presently 64.90%.

Insider Activity at U.S. Bancorp

In related news, insider Terrance R. Dolan sold 26,583 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total value of $1,152,904.71. Following the transaction, the insider now owns 144,236 shares of the company's stock, valued at $6,255,515.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of the company's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the transaction, the executive vice president now owns 164,880 shares in the company, valued at $6,837,573.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Terrance R. Dolan sold 26,583 shares of the company's stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the completion of the transaction, the insider now owns 144,236 shares of the company's stock, valued at approximately $6,255,515.32. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On U.S. Bancorp

Large investors have recently bought and sold shares of the stock. CGC Financial Services LLC acquired a new position in U.S. Bancorp in the fourth quarter valued at $25,000. BKM Wealth Management LLC acquired a new stake in shares of U.S. Bancorp during the fourth quarter worth about $26,000. Planned Solutions Inc. acquired a new stake in shares of U.S. Bancorp during the fourth quarter worth about $27,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of U.S. Bancorp during the first quarter worth about $30,000. Finally, Naples Money Management LLC acquired a new stake in shares of U.S. Bancorp during the fourth quarter worth about $30,000. Institutional investors and hedge funds own 77.60% of the company's stock.

U.S. Bancorp Company Profile

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.