Brokerages Expect U.S. Bancorp (USB) to Post $0.88 EPS
Equities analysts expect U.S. Bancorp (NYSE:USB) to post earnings per share (EPS) of $0.88 for the current quarter, according to Zacks. Five analysts have provided estimates for U.S. Bancorp’s earnings, with estimates ranging from $0.84 to $0.91. U.S. Bancorp reported earnings per share of $0.84 in the same quarter last year, which suggests a positive year over year growth rate of 4.8%. The company is scheduled to issue its next earnings report before the market opens on Wednesday, October 18th.
According to Zacks, analysts expect that U.S. Bancorp will report full year earnings of $3.45 per share for the current year, with EPS estimates ranging from $3.40 to $3.53. For the next fiscal year, analysts anticipate that the firm will post earnings of $3.77 per share, with EPS estimates ranging from $3.65 to $3.99. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for U.S. Bancorp.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.01. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.82 EPS.
USB has been the topic of a number of recent research reports. BidaskClub lowered U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. Jefferies Group LLC reissued a “buy” rating and issued a $59.00 target price on shares of U.S. Bancorp in a research report on Friday, June 9th. Argus raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Thursday, July 20th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. Finally, Robert W. Baird reissued a “hold” rating and issued a $48.00 target price on shares of U.S. Bancorp in a research report on Tuesday, September 5th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $52.50.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of U.S. Bancorp by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 105,568,014 shares of the financial services provider’s stock worth $5,481,092,000 after acquiring an additional 1,727,498 shares during the period. State Street Corp boosted its stake in shares of U.S. Bancorp by 1.2% during the 1st quarter. State Street Corp now owns 75,509,050 shares of the financial services provider’s stock worth $3,888,995,000 after acquiring an additional 903,504 shares during the period. New England Asset Management Inc. boosted its stake in shares of U.S. Bancorp by 52.5% during the 1st quarter. New England Asset Management Inc. now owns 26,571,846 shares of the financial services provider’s stock worth $1,368,451,000 after acquiring an additional 9,150,126 shares during the period. Franklin Resources Inc. boosted its stake in shares of U.S. Bancorp by 0.7% during the 2nd quarter. Franklin Resources Inc. now owns 16,019,884 shares of the financial services provider’s stock worth $831,753,000 after acquiring an additional 110,571 shares during the period. Finally, US Bancorp DE boosted its stake in shares of U.S. Bancorp by 1.9% during the 2nd quarter. US Bancorp DE now owns 14,157,826 shares of the financial services provider’s stock worth $735,074,000 after acquiring an additional 259,093 shares during the period. Institutional investors own 74.21% of the company’s stock.
Shares of U.S. Bancorp (USB) traded up 0.33% during midday trading on Friday, hitting $51.81. The company had a trading volume of 6,146,008 shares. U.S. Bancorp has a 12-month low of $42.17 and a 12-month high of $56.61. The firm’s 50-day moving average is $52.00 and its 200-day moving average is $52.17. The firm has a market capitalization of $86.67 billion, a P/E ratio of 15.65 and a beta of 0.87.
U.S. Bancorp declared that its Board of Directors has approved a stock buyback program on Wednesday, June 28th that allows the company to buyback $2.60 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
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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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