Q1 2019 EPS Estimates for U.S. Bancorp Lowered by Wedbush (NYSE:USB)

U.S. Bancorp (NYSE:USB) – Equities research analysts at Wedbush dropped their Q1 2019 earnings estimates for U.S. Bancorp in a report issued on Wednesday, March 27th, Zacks Investment Research reports. Wedbush analyst P. Winter now anticipates that the financial services provider will post earnings of $1.01 per share for the quarter, down from their previous estimate of $1.02.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, April 17th. The financial services provider reported $1.00 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.00. The firm had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.62 billion. U.S. Bancorp had a net margin of 27.02% and a return on equity of 15.53%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.96 earnings per share.

Other research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, April 9th. Barclays boosted their target price on shares of U.S. Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, January 2nd. Oppenheimer boosted their price target on shares of U.S. Bancorp from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Robert W. Baird lowered shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $51.00 price target on the stock. in a research report on Monday, January 28th. Finally, Jefferies Financial Group lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, January 8th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $58.18.

USB traded up $0.54 during midday trading on Friday, reaching $51.21. The company had a trading volume of 8,816,250 shares, compared to its average volume of 6,817,300. The company has a quick ratio of 0.85, a current ratio of 0.84 and a debt-to-equity ratio of 0.87. The stock has a market cap of $81.95 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 1.71 and a beta of 1.06. U.S. Bancorp has a 12-month low of $43.14 and a 12-month high of $55.56.

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date was Thursday, March 28th. U.S. Bancorp’s payout ratio is 36.10%.

In other news, Vice Chairman Leslie V. Godridge sold 14,737 shares of the company’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $51.50, for a total value of $758,955.50. Following the completion of the sale, the insider now owns 61,737 shares of the company’s stock, valued at approximately $3,179,455.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman James B. Kelligrew sold 20,000 shares of the company’s stock in a transaction 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 directly owns 49,495 shares of the company’s stock, valued at approximately $2,504,941.95. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Watch Point Trust Co raised its holdings in U.S. Bancorp by 7.8% in the 1st quarter. Watch Point Trust Co now owns 67,993 shares of the financial services provider’s stock worth $3,277,000 after purchasing an additional 4,934 shares in the last quarter. Sky Investment Group LLC raised its holdings in U.S. Bancorp by 55.6% in the 1st quarter. Sky Investment Group LLC now owns 11,050 shares of the financial services provider’s stock worth $532,000 after purchasing an additional 3,950 shares in the last quarter. Dakota Wealth Management bought a new position in U.S. Bancorp in the 1st quarter worth $209,000. Brookstone Capital Management raised its holdings in U.S. Bancorp by 23.6% in the 1st quarter. Brookstone Capital Management now owns 5,793 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 1,105 shares in the last quarter. Finally, Deprince Race & Zollo Inc. raised its holdings in U.S. Bancorp by 2.4% in the 1st quarter. Deprince Race & Zollo Inc. now owns 468,047 shares of the financial services provider’s stock worth $22,555,000 after purchasing an additional 10,851 shares in the last quarter. 75.82% of the stock is owned by institutional investors and hedge funds.

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.

See Also: Are sell-side analysts objective?

Get a free copy of the Zacks research report on U.S. Bancorp (USB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for U.S. Bancorp (NYSE:USB)

Receive News & Ratings for U.S. Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.