U.S. Bancorp (NYSE:USB) Expected to Post Earnings of $1.12 Per Share

Equities research analysts expect that U.S. Bancorp (NYSE:USB) will announce $1.12 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for U.S. Bancorp’s earnings, with estimates ranging from $1.08 to $1.16. U.S. Bancorp reported earnings per share of $1.06 during the same quarter last year, which suggests a positive year over year growth rate of 5.7%. The company is scheduled to report its next earnings results on Wednesday, October 16th.

According to Zacks, analysts expect that U.S. Bancorp will report full year earnings of $4.31 per share for the current year, with EPS estimates ranging from $4.22 to $4.36. For the next year, analysts expect that the firm will post earnings of $4.50 per share, with EPS estimates ranging from $4.32 to $4.70. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for U.S. Bancorp.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. U.S. Bancorp had a return on equity of 15.45% and a net margin of 26.70%. The company had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.73 billion. During the same period last year, the company earned $1.02 EPS. U.S. Bancorp’s revenue for the quarter was down 1.1% on a year-over-year basis.

Several research analysts have issued reports on USB shares. JPMorgan Chase & Co. raised U.S. Bancorp from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $52.50 to $57.00 in a research report on Wednesday, July 31st. Wedbush raised their target price on U.S. Bancorp from $46.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Macquarie cut U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $59.00 target price on the stock. in a research report on Thursday, August 1st. Bank of America raised U.S. Bancorp from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $49.00 to $55.00 in a research report on Thursday, July 18th. Finally, Morgan Stanley raised their target price on U.S. Bancorp from $55.00 to $56.00 and gave the stock an “underweight” rating in a research report on Thursday, July 18th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $56.92.

In other news, Vice Chairman Shailesh M. Kotwal sold 20,000 shares of U.S. Bancorp stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $57.33, for a total transaction of $1,146,600.00. Following the transaction, the insider now directly owns 65,959 shares of the company’s stock, valued at approximately $3,781,429.47. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Gillern Jeffry H. Von sold 9,428 shares of U.S. Bancorp stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $55.25, for a total value of $520,897.00. Following the transaction, the insider now directly owns 94,658 shares in the company, valued at $5,229,854.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,414 shares of company stock worth $2,297,215. Insiders own 0.24% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Trustcore Financial Services LLC purchased a new position in shares of U.S. Bancorp during the 1st quarter valued at about $28,000. Manchester Financial Inc. purchased a new position in U.S. Bancorp in the 2nd quarter worth approximately $30,000. Catamount Wealth Management lifted its holdings in U.S. Bancorp by 525.0% in the 1st quarter. Catamount Wealth Management now owns 750 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 630 shares in the last quarter. New Potomac Partners LLC purchased a new position in U.S. Bancorp in the 1st quarter worth approximately $37,000. Finally, Hillsdale Investment Management Inc. purchased a new position in U.S. Bancorp in the 2nd quarter worth approximately $37,000. 75.50% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:USB traded down $1.10 on Friday, hitting $50.95. The stock had a trading volume of 4,746,827 shares, compared to its average volume of 5,764,473. The stock has a market cap of $81.72 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 1.72 and a beta of 1.06. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.86. The business’s 50-day simple moving average is $54.01 and its two-hundred day simple moving average is $51.97. U.S. Bancorp has a 52-week low of $43.14 and a 52-week high of $57.81.

U.S. Bancorp declared that its board has authorized a share buyback plan on Thursday, June 27th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 3.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

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

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