Brokerages expect U.S. Bancorp (NYSE:USB) to announce earnings of $1.11 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for U.S. Bancorp’s earnings. The highest EPS estimate is $1.16 and the lowest is $1.07. U.S. Bancorp reported earnings of $1.06 per share in the same quarter last year, which would suggest a positive year over year growth rate of 4.7%. The firm is expected to issue its next earnings results before the market opens on Wednesday, October 16th.
According to Zacks, analysts expect that U.S. Bancorp will report full year earnings of $4.30 per share for the current financial year, with EPS estimates ranging from $4.24 to $4.36. For the next fiscal year, analysts forecast that the firm will report earnings of $4.41 per share, with EPS estimates ranging from $4.30 to $4.52. Zacks’ EPS averages are a mean average based on a survey of research firms that cover U.S. Bancorp.
U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, July 17th. The financial services provider reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.02. U.S. Bancorp had a net margin of 26.70% and a return on equity of 15.45%. The company had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.73 billion. During the same quarter last year, the firm earned $1.02 EPS. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year.
Several equities analysts recently commented on the stock. Citigroup lowered shares of U.S. Bancorp from a “neutral” rating to a “sell” rating and reduced their target price for the company from $54.00 to $49.00 in a report on Tuesday. JPMorgan Chase & Co. raised shares of U.S. Bancorp from an “underweight” rating to a “neutral” rating and increased their price target for the company from $52.50 to $57.00 in a research report on Wednesday, July 31st. Deutsche Bank set a $59.00 price target on shares of U.S. Bancorp and gave the company a “hold” rating in a research report on Friday, July 26th. Piper Jaffray Companies set a $59.00 price target on shares of U.S. Bancorp and gave the company a “buy” rating in a research report on Friday, September 13th. Finally, Credit Suisse Group reissued a “hold” rating and set a $55.00 price target on shares of U.S. Bancorp in a research report on Thursday, September 12th. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $56.31.
In other news, Director David B. Omaley sold 10,133 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $55.76, for a total value of $565,016.08. Following the completion of the sale, the director now directly owns 191,754 shares of the company’s stock, valued at approximately $10,692,203.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Vice Chairman Gillern Jeffry H. Von sold 9,428 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $55.25, for a total transaction of $520,897.00. Following the completion of the sale, the insider now directly owns 94,658 shares of the company’s stock, valued at $5,229,854.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,547 shares of company stock valued at $2,862,231. Corporate insiders own 0.24% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Welch & Forbes LLC lifted its position in shares of U.S. Bancorp by 2.2% in the 3rd quarter. Welch & Forbes LLC now owns 318,980 shares of the financial services provider’s stock worth $17,652,000 after purchasing an additional 6,752 shares during the period. First National Bank Sioux Falls lifted its position in shares of U.S. Bancorp by 6.3% in the 3rd quarter. First National Bank Sioux Falls now owns 4,407 shares of the financial services provider’s stock worth $243,000 after purchasing an additional 262 shares during the period. Larson Financial Group LLC lifted its position in shares of U.S. Bancorp by 232.5% in the 3rd quarter. Larson Financial Group LLC now owns 1,403 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 981 shares during the period. Rockland Trust Co. lifted its position in shares of U.S. Bancorp by 2.3% in the 3rd quarter. Rockland Trust Co. now owns 17,587 shares of the financial services provider’s stock worth $933,000 after purchasing an additional 400 shares during the period. Finally, Affiance Financial LLC purchased a new stake in shares of U.S. Bancorp in the 3rd quarter worth about $205,000. 75.49% of the stock is owned by hedge funds and other institutional investors.
USB stock opened at $53.47 on Wednesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.83 and a current ratio of 0.84. U.S. Bancorp has a 52 week low of $43.14 and a 52 week high of $57.81. The firm’s fifty day moving average is $53.94 and its 200 day moving average is $52.66. The firm has a market cap of $84.26 billion, a P/E ratio of 13.04, a P/E/G ratio of 2.03 and a beta of 1.10.
U.S. Bancorp announced that its board has approved a stock buyback program on Thursday, June 27th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.14%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, September 27th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 40.98%.
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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