U.S. Bancorp (USB) Scheduled to Post Earnings on Wednesday
U.S. Bancorp (NYSE:USB) is set to issue its Q316 quarterly earnings data on Wednesday, October 19th. Analysts expect the company to announce earnings of $0.83 per share and revenue of $5.34 billion for the quarter. Parties that wish to register for the company’s conference call can do so using this link.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Friday, July 15th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.03. U.S. Bancorp had a return on equity of 14.05% and a net margin of 26.56%. The business had revenue of $5.45 billion for the quarter. During the same quarter in the previous year, the business earned $0.80 earnings per share. U.S. Bancorp’s revenue was up 8.1% compared to the same quarter last year. On average, analysts expect U.S. Bancorp to post $3.25 EPS for the current fiscal year and $3.41 EPS for the next fiscal year.
U.S. Bancorp (NYSE:USB) opened at 42.72 on Tuesday. The company has a market capitalization of $73.12 billion, a price-to-earnings ratio of 13.39 and a beta of 0.82. U.S. Bancorp has a 52-week low of $37.07 and a 52-week high of $44.58. The company’s 50-day moving average price is $43.29 and its 200 day moving average price is $42.15.
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The business also recently declared a quarterly dividend, which was paid on Monday, October 17th. Shareholders of record on Friday, September 30th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.62%. The ex-dividend date was Wednesday, September 28th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.26. U.S. Bancorp’s payout ratio is currently 35.00%.
USB has been the subject of several recent research reports. Nomura reissued a “buy” rating on shares of U.S. Bancorp in a report on Saturday, July 9th. Barclays PLC reissued a “buy” rating on shares of U.S. Bancorp in a report on Saturday, July 9th. Wells Fargo & Co. reissued a “buy” rating on shares of U.S. Bancorp in a report on Saturday, July 9th. Drexel Hamilton reaffirmed a “buy” rating on shares of U.S. Bancorp in a research note on Monday, July 18th. Finally, FBR & Co reaffirmed a “buy” rating on shares of U.S. Bancorp in a research note on Monday, July 18th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $45.22.
In related news, Vice Chairman Gillern Jeffry H. Von sold 102,961 shares of the stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $42.00, for a total value of $4,324,362.00. Following the transaction, the insider now owns 178,422 shares of the company’s stock, valued at $7,493,724. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Craig E. Gifford sold 2,500 shares of the stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $41.87, for a total value of $104,675.00. Following the completion of the transaction, the executive vice president now directly owns 49,881 shares in the company, valued at approximately $2,088,517.47. The disclosure for this sale can be found here. 0.68% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in USB. Bellwether Investment Group LLC purchased a new position in shares of U.S. Bancorp during the second quarter valued at about $116,000. Seven Eight Capital LLC boosted its position in shares of U.S. Bancorp by 425.0% in the second quarter. Seven Eight Capital LLC now owns 4,200 shares of the financial services provider’s stock valued at $169,000 after buying an additional 3,400 shares during the period. Point72 Asia Hong Kong Ltd boosted its position in shares of U.S. Bancorp by 400.0% in the second quarter. Point72 Asia Hong Kong Ltd now owns 4,500 shares of the financial services provider’s stock valued at $181,000 after buying an additional 3,600 shares during the period. Dubuque Bank & Trust Co. boosted its position in shares of U.S. Bancorp by 8.9% in the second quarter. Dubuque Bank & Trust Co. now owns 4,535 shares of the financial services provider’s stock valued at $183,000 after buying an additional 372 shares during the period. Finally, WFG Advisors LP boosted its position in shares of U.S. Bancorp by 0.3% in the second quarter. WFG Advisors LP now owns 4,886 shares of the financial services provider’s stock valued at $197,000 after buying an additional 13 shares during the period. 72.56% of the stock is currently owned by institutional investors.
U.S. Bancorp Company Profile
U.S. Bancorp is a multi-state financial services holding company. The Company’s banking subsidiary, U.S. Bank National Association, is engaged in the general banking business in domestic markets. It provides a range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services.
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