Wall Street analysts expect that U.S. Bancorp (NYSE:USB) will announce earnings per share of $1.11 for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for U.S. Bancorp’s earnings, with the highest EPS estimate coming in at $1.16 and the lowest estimate coming in at $1.07. U.S. Bancorp reported earnings of $1.06 per share during the same quarter last year, which indicates a positive year over year growth rate of 4.7%. The firm is expected to issue its next quarterly earnings results before the market opens on Wednesday, October 16th.
On average, analysts expect that U.S. Bancorp will report full year earnings of $4.30 per share for the current fiscal year, with EPS estimates ranging from $4.24 to $4.36. For the next financial year, analysts forecast that the business will report earnings of $4.41 per share, with EPS estimates ranging from $4.30 to $4.52. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that that provide coverage for U.S. Bancorp.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.02. The firm had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.73 billion. U.S. Bancorp had a net margin of 26.70% and a return on equity of 15.45%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period last year, the business posted $1.02 earnings per share.
USB has been the topic of several recent research reports. UBS Group raised their target price on shares of U.S. Bancorp from $55.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Deutsche Bank set a $59.00 target price on shares of U.S. Bancorp and gave the stock a “hold” rating in a report on Friday, July 26th. Morgan Stanley raised their target price on shares of U.S. Bancorp from $55.00 to $56.00 and gave the stock an “underweight” rating in a report on Thursday, July 18th. Citigroup cut shares of U.S. Bancorp from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $54.00 to $49.00 in a report on Tuesday. Finally, Macquarie cut shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $59.00 target price on the stock. in a report on Thursday, August 1st. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. U.S. Bancorp presently has a consensus rating of “Hold” and a consensus price target of $56.31.
Shares of USB opened at $53.47 on Wednesday. U.S. Bancorp has a 12 month low of $43.14 and a 12 month high of $57.81. The firm’s 50 day moving average is $53.94 and its 200-day moving average is $52.66. The stock has a market capitalization of $84.26 billion, a PE ratio of 13.04, a P/E/G ratio of 2.03 and a beta of 1.10. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.86.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.14%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, September 27th. U.S. Bancorp’s dividend payout ratio (DPR) is 40.98%.
U.S. Bancorp declared that its Board of Directors has initiated a share repurchase plan on Thursday, June 27th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
In related news, Vice Chairman Shailesh M. Kotwal sold 20,000 shares of U.S. Bancorp stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $57.33, for a total value of $1,146,600.00. Following the transaction, the insider now directly owns 65,959 shares of the company’s stock, valued at $3,781,429.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David B. Omaley sold 10,133 shares of U.S. Bancorp stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $55.76, for a total transaction of $565,016.08. Following the completion of the transaction, the director now directly owns 191,754 shares in the company, valued at $10,692,203.04. The disclosure for this sale can be found here. Insiders sold 50,547 shares of company stock worth $2,862,231 over the last three months. 0.24% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in USB. Buckingham Capital Management Inc. increased its stake in U.S. Bancorp by 1.9% in the first quarter. Buckingham Capital Management Inc. now owns 55,519 shares of the financial services provider’s stock valued at $2,675,000 after acquiring an additional 1,015 shares during the last quarter. First Trust Advisors LP grew its stake in shares of U.S. Bancorp by 5.0% during the first quarter. First Trust Advisors LP now owns 1,228,167 shares of the financial services provider’s stock worth $59,185,000 after buying an additional 57,928 shares during the last quarter. Fiera Capital Corp grew its stake in shares of U.S. Bancorp by 4.6% during the first quarter. Fiera Capital Corp now owns 9,133,471 shares of the financial services provider’s stock worth $440,142,000 after buying an additional 397,902 shares during the last quarter. Federated Investors Inc. PA grew its stake in shares of U.S. Bancorp by 240.0% during the first quarter. Federated Investors Inc. PA now owns 95,428 shares of the financial services provider’s stock worth $4,598,000 after buying an additional 67,365 shares during the last quarter. Finally, MainStreet Investment Advisors LLC grew its stake in shares of U.S. Bancorp by 7.2% during the first quarter. MainStreet Investment Advisors LLC now owns 121,293 shares of the financial services provider’s stock worth $5,845,000 after buying an additional 8,148 shares during the last quarter. 75.49% of the stock is currently 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.
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