Zacks: Analysts Expect U.S. Bancorp (NYSE:USB) to Announce $1.07 EPS

Share on StockTwits

Wall Street brokerages expect U.S. Bancorp (NYSE:USB) to announce earnings per share (EPS) of $1.07 for the current quarter, Zacks reports. Six analysts have made estimates for U.S. Bancorp’s earnings, with estimates ranging from $1.05 to $1.09. U.S. Bancorp posted earnings per share of $1.02 during the same quarter last year, which suggests a positive year over year growth rate of 4.9%. The company is scheduled to issue its next earnings results before the market opens on Wednesday, July 17th.

According to Zacks, analysts expect that U.S. Bancorp will report full year earnings of $4.26 per share for the current year, with EPS estimates ranging from $4.20 to $4.35. For the next year, analysts forecast that the firm will post earnings of $4.49 per share, with EPS estimates ranging from $4.34 to $4.70. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover U.S. Bancorp.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $1.00 EPS for the quarter, meeting the consensus estimate of $1.00. The company had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.62 billion. U.S. Bancorp had a return on equity of 15.53% and a net margin of 27.02%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.96 EPS.

Several equities research analysts have recently commented on USB shares. Oppenheimer set a $15.00 price objective on Strongbridge Biopharma and gave the company a “buy” rating in a report on Tuesday, March 26th. Zacks Investment Research raised GreenTree Hospitality Group from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Finally, JPMorgan Chase & Co. started coverage on Pinduoduo in a report on Tuesday, July 9th. They issued an “underweight” rating and a $20.48 price objective for the company. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $57.75.

In related news, Vice Chairman Gillern Jeffry H. Von sold 4,669 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $53.14, for a total value of $248,110.66. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Vice Chairman James B. Kelligrew sold 20,000 shares of the firm’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $50.61, for a total value of $1,012,200.00. Following the completion of the transaction, the insider now owns 49,495 shares in the company, valued at approximately $2,504,941.95. The disclosure for this sale can be found here. Insiders have sold 37,233 shares of company stock valued at $1,907,734 in the last three months. Insiders own 0.24% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of USB. FMR LLC lifted its stake in shares of U.S. Bancorp by 12.9% in the fourth quarter. FMR LLC now owns 27,563,463 shares of the financial services provider’s stock worth $1,259,651,000 after acquiring an additional 3,143,660 shares during the period. Northern Trust Corp lifted its stake in U.S. Bancorp by 0.9% in the first quarter. Northern Trust Corp now owns 20,320,154 shares of the financial services provider’s stock valued at $979,228,000 after buying an additional 190,324 shares during the period. Geode Capital Management LLC lifted its stake in U.S. Bancorp by 7.5% in the fourth quarter. Geode Capital Management LLC now owns 18,322,754 shares of the financial services provider’s stock valued at $835,766,000 after buying an additional 1,285,265 shares during the period. Norges Bank acquired a new position in U.S. Bancorp in the fourth quarter valued at approximately $723,318,000. Finally, Daily Journal Corp lifted its stake in U.S. Bancorp by 9,900.0% in the second quarter. Daily Journal Corp now owns 14,000,000 shares of the financial services provider’s stock valued at $7,336,000 after buying an additional 13,860,000 shares during the period. Institutional investors own 74.63% of the company’s stock.

Shares of NYSE USB traded down $0.57 during trading hours on Wednesday, hitting $53.03. The company had a trading volume of 195,099 shares, compared to its average volume of 4,606,400. The stock has a market capitalization of $85.33 billion, a PE ratio of 12.95, a P/E/G ratio of 1.80 and a beta of 1.06. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.84 and a quick ratio of 0.83. U.S. Bancorp has a 1-year low of $43.14 and a 1-year high of $55.56. The firm’s 50 day moving average price is $52.26.

U.S. Bancorp announced that its board has authorized a share buyback program on Thursday, June 27th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 3.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Thursday, June 27th. U.S. Bancorp’s dividend payout ratio is 36.10%.

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.

Featured Article: Understanding each part of a balance sheet

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.