U.S. Bancorp (USB) Scheduled to Post Quarterly Earnings on Wednesday

U.S. Bancorp (NYSE:USB) is scheduled to be issuing its quarterly earnings data before the market opens on Wednesday, October 16th. Analysts expect the company to announce earnings of $0.99 per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. The firm had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.12 EPS. On average, analysts expect U.S. Bancorp to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

U.S. Bancorp Stock Up 2.9 %

USB opened at $46.26 on Monday. U.S. Bancorp has a one year low of $30.47 and a one year high of $47.31. The company has a fifty day moving average price of $44.55 and a 200-day moving average price of $42.50. The firm has a market capitalization of $72.19 billion, a P/E ratio of 15.32, a price-to-earnings-growth ratio of 3.32 and a beta of 1.03. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80.

U.S. Bancorp declared that its Board of Directors has initiated a stock repurchase program on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.50 dividend. The ex-dividend date is Monday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 4.32%. U.S. Bancorp’s payout ratio is 66.23%.

Insiders Place Their Bets

In other news, Director Aleem Gillani acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were purchased at an average cost of $44.99 per share, for a total transaction of $449,900.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $449,900. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

USB has been the subject of several research reports. Wells Fargo & Company upped their target price on shares of U.S. Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. lowered shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price target for the company. in a research report on Thursday, June 27th. StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Evercore ISI upped their price target on shares of U.S. Bancorp from $49.00 to $51.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. Finally, Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $54.00 to $57.00 in a research note on Monday, September 30th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $49.14.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.