U.S. Bancorp (USB) Set to Announce Earnings on Wednesday
U.S. Bancorp (NYSE:USB) will release its earnings data before the market opens on Wednesday, October 18th. Analysts expect U.S. Bancorp to post 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 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.01. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. The business 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 business earned $0.82 earnings per share. The firm’s revenue was up .7% compared to the same quarter last year. On average, analysts expect U.S. Bancorp to post $3.42 EPS for the current fiscal year and $3.77 EPS for the next fiscal year.
Shares of U.S. Bancorp (NYSE:USB) opened at 54.23 on Wednesday. The firm has a market cap of $90.71 billion, a price-to-earnings ratio of 16.38 and a beta of 0.87. U.S. Bancorp has a 12-month low of $42.37 and a 12-month high of $56.61. The stock’s 50 day moving average is $52.46 and its 200-day moving average is $52.01.
U.S. Bancorp declared that its board has authorized a stock repurchase program on Wednesday, June 28th that permits the company to buyback $2.60 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a dividend of $0.30 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.28. The ex-dividend date is Thursday, September 28th. This represents a $1.20 annualized dividend and a yield of 2.21%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 36.04%.
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USB has been the topic of several recent analyst reports. BidaskClub raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Jefferies Group LLC reissued a “buy” rating and set a $59.00 price objective on shares of U.S. Bancorp in a research note on Friday, August 11th. Argus raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Thursday, July 20th. Robert W. Baird reissued a “hold” rating and set a $48.00 price objective on shares of U.S. Bancorp in a research note on Tuesday, September 5th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $53.38.
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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