Brokerages Expect U.S. Bancorp (USB) Will Announce Earnings of $0.88 Per Share
Wall Street analysts expect U.S. Bancorp (NYSE:USB) to report earnings per share (EPS) of $0.88 for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for U.S. Bancorp’s earnings, with estimates ranging from $0.84 to $0.90. U.S. Bancorp posted earnings per share of $0.82 in the same quarter last year, which indicates a positive year-over-year growth rate of 7.3%. The company is expected to issue its next earnings report on Wednesday, January 17th.
On average, analysts expect that U.S. Bancorp will report full year earnings of $3.43 per share for the current financial year, with EPS estimates ranging from $3.40 to $3.45. For the next fiscal year, analysts anticipate that the business will report earnings of $3.72 per share, with EPS estimates ranging from $3.64 to $3.99. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow U.S. Bancorp.
U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share for the quarter, meeting the consensus estimate of $0.88. U.S. Bancorp had a return on equity of 13.91% and a net margin of 25.46%. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.60 billion. During the same period last year, the business posted $0.84 EPS. The company’s revenue was up 4.1% on a year-over-year basis.
Several research analysts have weighed in on the company. J P Morgan Chase & Co lowered their target price on U.S. Bancorp from $55.50 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 1st. Jefferies Group LLC reiterated a “buy” rating and issued a $59.00 target price on shares of U.S. Bancorp in a research note on Friday, August 11th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a research note on Thursday, October 19th. Morgan Stanley lifted their target price on U.S. Bancorp from $51.00 to $55.00 and gave the company an “underweight” rating in a research note on Thursday, October 19th. Finally, Nomura downgraded U.S. Bancorp from a “buy” rating to a “neutral” rating and lowered their target price for the company from $57.00 to $55.00 in a research note on Thursday, September 28th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company’s stock. U.S. Bancorp has a consensus rating of “Hold” and an average target price of $53.82.
U.S. Bancorp (NYSE:USB) opened at $51.68 on Tuesday. U.S. Bancorp has a 12 month low of $47.59 and a 12 month high of $56.61. The firm has a market capitalization of $85,646.33, a P/E ratio of 15.31, a price-to-earnings-growth ratio of 2.01 and a beta of 0.86. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.79.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, September 28th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a yield of 2.32%. U.S. Bancorp’s payout ratio is currently 35.61%.
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A number of hedge funds have recently modified their holdings of USB. Stelac Advisory Services LLC acquired a new position in U.S. Bancorp during the second quarter worth $103,000. Phocas Financial Corp. acquired a new position in shares of U.S. Bancorp in the second quarter worth $109,000. Horan Capital Advisors LLC. acquired a new position in shares of U.S. Bancorp in the third quarter worth $112,000. SRS Capital Advisors Inc. raised its holdings in shares of U.S. Bancorp by 17.0% in the first quarter. SRS Capital Advisors Inc. now owns 2,547 shares of the financial services provider’s stock worth $131,000 after acquiring an additional 371 shares during the last quarter. Finally, Orrstown Financial Services Inc. raised its holdings in shares of U.S. Bancorp by 30.4% in the second quarter. Orrstown Financial Services Inc. now owns 2,921 shares of the financial services provider’s stock worth $152,000 after acquiring an additional 681 shares during the last quarter. 74.66% of the stock is owned by hedge funds and other institutional investors.
About U.S. Bancorp
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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