Analysts expect U.S. Bancorp (NYSE:USB) to report $5.73 billion in sales for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for U.S. Bancorp’s earnings, with the lowest sales estimate coming in at $5.69 billion and the highest estimate coming in at $5.76 billion. U.S. Bancorp reported sales of $5.61 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 2.1%. The company is scheduled to announce its next quarterly earnings report before the market opens on Wednesday, July 17th.
On average, analysts expect that U.S. Bancorp will report full year sales of $22.88 billion for the current fiscal year, with estimates ranging from $22.62 billion to $22.96 billion. For the next fiscal year, analysts anticipate that the company will report sales of $23.49 billion, with estimates ranging from $22.85 billion to $23.79 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow U.S. Bancorp.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $1.00 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.00. The business had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.62 billion. U.S. Bancorp had a net margin of 27.02% and a return on equity of 15.53%. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.96 EPS.
Several equities research analysts recently commented on USB shares. Zacks Investment Research upgraded shares of GreenTree Hospitality Group from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Oppenheimer set a $15.00 price target on shares of Strongbridge Biopharma and gave the company a “buy” rating in a research report on Tuesday, March 26th. Finally, JPMorgan Chase & Co. started coverage on shares of Pinduoduo in a research report on Tuesday. They issued an “underweight” rating and a $20.48 price target for the company. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. U.S. Bancorp presently has an average rating of “Hold” and a consensus target price of $57.75.
In other U.S. Bancorp news, Vice Chairman Leslie V. Godridge sold 12,564 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $51.53, for a total value of $647,422.92. Following the completion of the sale, the insider now owns 39,330 shares in the company, valued at approximately $2,026,674.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Gillern Jeffry H. Von sold 4,669 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $53.14, for a total transaction of $248,110.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,233 shares of company stock valued at $1,907,734. Insiders own 0.24% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in USB. Executive Wealth Management LLC bought a new position in shares of U.S. Bancorp during the 4th quarter valued at $27,000. Trustcore Financial Services LLC bought a new position in shares of U.S. Bancorp during the 1st quarter valued at $28,000. ERTS Wealth Advisors LLC acquired a new position in U.S. Bancorp in the 4th quarter valued at $36,000. Catamount Wealth Management grew its stake in U.S. Bancorp by 525.0% in the 1st quarter. Catamount Wealth Management now owns 750 shares of the financial services provider’s stock valued at $36,000 after buying an additional 630 shares during the last quarter. Finally, New Potomac Partners LLC acquired a new position in U.S. Bancorp in the 1st quarter valued at $37,000. Institutional investors and hedge funds own 74.61% of the company’s stock.
Shares of NYSE:USB opened at $53.47 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.87. The stock has a market cap of $84.92 billion, a P/E ratio of 13.04, a PEG ratio of 1.80 and a beta of 1.06. U.S. Bancorp has a 52 week low of $43.14 and a 52 week high of $55.56. The company has a 50 day moving average price of $52.21.
U.S. Bancorp announced that its board has initiated a share repurchase program on Thursday, June 27th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 3.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.37 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.48 dividend on an annualized basis and a yield of 2.77%. U.S. Bancorp’s payout ratio is 36.10%.
About U.S. Bancorp
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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