U.S. Bancorp Forecasted to Earn Q3 2020 Earnings of $1.17 Per Share (NYSE:USB)

U.S. Bancorp (NYSE:USB) – Investment analysts at Piper Jaffray Companies increased their Q3 2020 earnings per share (EPS) estimates for U.S. Bancorp in a report released on Wednesday, November 13th. Piper Jaffray Companies analyst K. Barker now anticipates that the financial services provider will earn $1.17 per share for the quarter, up from their previous forecast of $1.15. Piper Jaffray Companies currently has a “Buy” rating and a $59.00 target price on the stock.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.04. The company had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.81 billion. U.S. Bancorp had a return on equity of 15.39% and a net margin of 26.54%. U.S. Bancorp’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.06 earnings per share.

Several other research firms have also issued reports on USB. Morgan Stanley reaffirmed a “sell” rating and issued a $62.00 target price on shares of U.S. Bancorp in a report on Monday. UBS Group increased their price objective on U.S. Bancorp from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Macquarie lowered U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $59.00 price objective for the company. in a report on Thursday, August 1st. Citigroup lowered U.S. Bancorp from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $54.00 to $49.00 in a report on Tuesday, October 8th. Finally, Bank of America lowered U.S. Bancorp from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $55.00 to $53.00 in a report on Monday, September 30th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $57.07.

USB stock opened at $59.56 on Monday. The firm has a market cap of $91.48 billion, a PE ratio of 14.53, a P/E/G ratio of 2.25 and a beta of 1.11. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.86. The business has a 50 day moving average of $56.18 and a 200-day moving average of $53.95. U.S. Bancorp has a 12-month low of $43.14 and a 12-month high of $59.71.

Several large investors have recently bought and sold shares of USB. Daily Journal Corp lifted its position in shares of U.S. Bancorp by 9,900.0% during the second quarter. Daily Journal Corp now owns 14,000,000 shares of the financial services provider’s stock worth $7,336,000 after acquiring an additional 13,860,000 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of U.S. Bancorp by 17,492.7% during the second quarter. Nuveen Asset Management LLC now owns 12,734,464 shares of the financial services provider’s stock worth $667,286,000 after acquiring an additional 12,662,079 shares in the last quarter. APG Asset Management N.V. lifted its position in shares of U.S. Bancorp by 115.2% during the second quarter. APG Asset Management N.V. now owns 3,824,226 shares of the financial services provider’s stock worth $175,965,000 after acquiring an additional 2,046,900 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of U.S. Bancorp by 140.8% during the second quarter. Acadian Asset Management LLC now owns 2,005,750 shares of the financial services provider’s stock worth $105,104,000 after acquiring an additional 1,172,955 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position in shares of U.S. Bancorp by 40.2% during the second quarter. CIBC Private Wealth Group LLC now owns 3,974,817 shares of the financial services provider’s stock worth $208,279,000 after acquiring an additional 1,140,289 shares in the last quarter. Hedge funds and other institutional investors own 75.65% of the company’s stock.

In other U.S. Bancorp news, CEO Andrew Cecere sold 165,564 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $58.81, for a total transaction of $9,736,818.84. Following the sale, the chief executive officer now owns 900,118 shares in the company, valued at $52,935,939.58. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Terrance R. Dolan sold 17,200 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $58.59, for a total value of $1,007,748.00. Following the sale, the chief financial officer now owns 111,404 shares in the company, valued at approximately $6,527,160.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 198,254 shares of company stock valued at $11,613,164. 0.24% of the stock is owned by corporate insiders.

About U.S. Bancorp

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

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