U.S. Bancorp (USB) Expected to Post Earnings of $0.88 Per Share
Equities research analysts expect U.S. Bancorp (NYSE:USB) to announce earnings per share (EPS) of $0.88 for the current quarter, Zacks reports. Five analysts have made estimates for U.S. Bancorp’s earnings, with the lowest EPS estimate coming in at $0.84 and the highest estimate coming in at $0.91. U.S. Bancorp posted earnings per share of $0.84 during the same quarter last year, which suggests a positive year over year growth rate of 4.8%. The business is scheduled to announce its next earnings results before the market opens on Wednesday, October 18th.
On average, analysts expect that U.S. Bancorp will report full-year earnings of $3.45 per share for the current fiscal year, with EPS estimates ranging from $3.40 to $3.53. For the next year, analysts anticipate that the business will post earnings of $3.77 per share, with EPS estimates ranging from $3.65 to $3.99. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow U.S. Bancorp.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.01. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. The company had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.46 billion. During the same period in the prior year, the firm earned $0.82 earnings per share. The firm’s revenue for the quarter was up .7% compared to the same quarter last year.
Several brokerages have recently issued reports on USB. Robert W. Baird reiterated a “hold” rating and issued a $48.00 price objective on shares of U.S. Bancorp in a research note on Tuesday, September 5th. BidaskClub cut U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th. Jefferies Group LLC reiterated a “buy” rating and issued a $59.00 price objective on shares of U.S. Bancorp in a research note on Friday, August 11th. Wells Fargo & Company began coverage on U.S. Bancorp in a research note on Wednesday, August 9th. They issued a “market perform” rating and a $56.00 price objective for the company. Finally, Argus upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Thursday, July 20th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $52.50.
U.S. Bancorp (NYSE:USB) traded up 1.41% during mid-day trading on Friday, reaching $53.12. 2,582,994 shares of the company were exchanged. The stock has a market capitalization of $88.86 billion, a price-to-earnings ratio of 16.05 and a beta of 0.87. The stock’s 50-day moving average price is $51.99 and its 200-day moving average price is $52.09. U.S. Bancorp has a 1-year low of $42.17 and a 1-year high of $56.61.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a dividend of $0.30 per share. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a yield of 2.29%. U.S. Bancorp’s payout ratio is presently 33.63%.
U.S. Bancorp declared that its board has approved a stock repurchase program on Wednesday, June 28th that permits the company to buyback $2.60 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in U.S. Bancorp by 1.7% during the second quarter. Vanguard Group Inc. now owns 105,568,014 shares of the financial services provider’s stock worth $5,481,092,000 after buying an additional 1,727,498 shares during the period. State Street Corp increased its position in U.S. Bancorp by 1.2% during the first quarter. State Street Corp now owns 75,509,050 shares of the financial services provider’s stock worth $3,888,995,000 after buying an additional 903,504 shares during the period. New England Asset Management Inc. increased its position in U.S. Bancorp by 52.5% during the first quarter. New England Asset Management Inc. now owns 26,571,846 shares of the financial services provider’s stock worth $1,368,451,000 after buying an additional 9,150,126 shares during the period. Franklin Resources Inc. increased its position in U.S. Bancorp by 0.7% during the second quarter. Franklin Resources Inc. now owns 16,019,884 shares of the financial services provider’s stock worth $831,753,000 after buying an additional 110,571 shares during the period. Finally, US Bancorp DE increased its position in U.S. Bancorp by 1.9% during the second quarter. US Bancorp DE now owns 14,157,826 shares of the financial services provider’s stock worth $735,074,000 after buying an additional 259,093 shares during the period. 73.97% of the stock is currently owned by institutional investors.
U.S. Bancorp Company Profile
U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.
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