U.S. Bancorp (USB) to Release Quarterly Earnings on Wednesday
U.S. Bancorp (NYSE:USB) is set to issue its quarterly earnings data before the market opens on Wednesday, October 18th. Analysts expect the company to announce earnings of $0.89 per share for the quarter.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. The firm had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.46 billion. During the same quarter in the previous year, the company posted $0.82 EPS. The business’s revenue was up .7% on a year-over-year basis. On average, analysts expect U.S. Bancorp to post $3.42 EPS for the current fiscal year and $3.76 EPS for the next fiscal year.
Shares of U.S. Bancorp (USB) opened at 54.26 on Tuesday. U.S. Bancorp has a 52-week low of $42.52 and a 52-week high of $56.61. The company has a market cap of $90.76 billion, a price-to-earnings ratio of 16.39 and a beta of 0.87. The firm has a 50 day moving average price of $52.67 and a 200-day moving average price of $52.05.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were 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 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend was Thursday, September 28th. U.S. Bancorp’s dividend payout ratio (DPR) is 36.04%.
U.S. Bancorp announced that its board has initiated a stock buyback program on Wednesday, June 28th that allows the company to repurchase $2.60 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
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USB has been the topic of several recent analyst reports. BidaskClub raised U.S. Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Jefferies Group LLC reaffirmed a “buy” rating and set a $59.00 price objective on shares of U.S. Bancorp in a research report on Friday, August 11th. Argus upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a report on Thursday, July 20th. Robert W. Baird reiterated a “hold” rating and set a $48.00 target price on shares of U.S. Bancorp in a report on Tuesday, September 5th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a report on Wednesday, July 19th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $53.56.
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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