U.S. Bancorp (USB) Set to Announce Quarterly Earnings on Wednesday
U.S. Bancorp (NYSE:USB) is scheduled to be releasing its earnings data before the market opens on Wednesday, July 19th. Analysts expect U.S. Bancorp to post earnings of $0.84 per share for the quarter.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, April 19th. The financial services provider reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.02. U.S. Bancorp had a return on equity of 13.99% and a net margin of 25.86%. The company had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.27 billion. During the same quarter in the prior year, the firm posted $0.76 EPS. U.S. Bancorp’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, analysts expect U.S. Bancorp to post $3.45 EPS for the current fiscal year and $3.78 EPS for the next fiscal year.
Shares of U.S. Bancorp (NYSE USB) opened at 52.08 on Monday. The company’s 50-day moving average price is $51.68 and its 200 day moving average price is $52.36. U.S. Bancorp has a 12-month low of $41.12 and a 12-month high of $56.61. The stock has a market cap of $87.77 billion, a price-to-earnings ratio of 15.78 and a beta of 0.86.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Friday, June 30th will be given a dividend of $0.28 per share. The ex-dividend date is Wednesday, June 28th. This represents a $1.12 dividend on an annualized basis and a yield of 2.15%. U.S. Bancorp’s payout ratio is 33.84%.
In related news, Vice Chairman P.W. Parker sold 29,449 shares of the business’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $51.94, for a total value of $1,529,581.06. Following the sale, the insider now owns 307,698 shares in the company, valued at approximately $15,981,834.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Leslie V. Godridge sold 14,192 shares of the business’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $52.18, for a total value of $740,538.56. Following the completion of the sale, the insider now owns 62,303 shares in the company, valued at approximately $3,250,970.54. The disclosure for this sale can be found here. Insiders sold a total of 69,387 shares of company stock worth $3,573,382 in the last quarter. Company insiders own 0.39% of the company’s stock.
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USB has been the topic of a number of analyst reports. Wells Fargo & Company downgraded U.S. Bancorp from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $38.48 to $52.31 in a research report on Thursday, May 4th. They noted that the move was a valuation call. Zacks Investment Research downgraded U.S. Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, March 22nd. BidaskClub upgraded U.S. Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Royal Bank Of Canada reiterated a “buy” rating and set a $55.00 price objective on shares of U.S. Bancorp in a research report on Tuesday, April 4th. Finally, Rafferty Capital Markets downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and set a $53.00 price objective on the stock. in a research report on Thursday, April 20th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company’s stock. U.S. Bancorp presently has an average rating of “Hold” and a consensus target price of $51.56.
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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