Analysts expect that U.S. Bancorp (NYSE:USB) will announce $5.80 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for U.S. Bancorp’s earnings, with estimates ranging from $5.75 billion to $5.84 billion. U.S. Bancorp reported sales of $5.73 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 1.2%. The business is expected to report its next quarterly earnings results on Wednesday, January 19th.
On average, analysts expect that U.S. Bancorp will report full-year sales of $22.86 billion for the current financial year, with estimates ranging from $22.81 billion to $22.90 billion. For the next financial year, analysts expect that the company will post sales of $24.47 billion, with estimates ranging from $23.60 billion to $25.52 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow U.S. Bancorp.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, October 14th. The financial services provider reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.14. The business had revenue of $5.89 billion during the quarter, compared to analysts’ expectations of $5.76 billion. U.S. Bancorp had a return on equity of 16.20% and a net margin of 32.30%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.99 EPS.
USB has been the subject of a number of research analyst reports. Raymond James cut U.S. Bancorp from a “market perform” rating to an “underperform” rating in a report on Friday, October 15th. Stephens cut U.S. Bancorp from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $68.00 to $63.00 in a report on Monday. Jefferies Financial Group lifted their price objective on U.S. Bancorp from $66.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, October 11th. Royal Bank of Canada raised their target price on U.S. Bancorp from $62.00 to $66.00 and gave the stock an “outperform” rating in a research report on Friday, October 15th. Finally, Credit Suisse Group raised their target price on U.S. Bancorp from $60.00 to $61.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $63.70.
Several institutional investors have recently bought and sold shares of USB. Eagle Bay Advisors LLC purchased a new stake in U.S. Bancorp during the second quarter worth $27,000. RPg Family Wealth Advisory LLC acquired a new position in shares of U.S. Bancorp in the second quarter worth $29,000. Tower View Investment Management & Research LLC acquired a new position in shares of U.S. Bancorp in the third quarter worth $30,000. Sumitomo Mitsui Financial Group Inc. acquired a new position in shares of U.S. Bancorp in the third quarter worth $33,000. Finally, Solstein Capital LLC raised its holdings in shares of U.S. Bancorp by 491.6% in the second quarter. Solstein Capital LLC now owns 633 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 526 shares during the last quarter. Hedge funds and other institutional investors own 73.56% of the company’s stock.
NYSE USB opened at $57.40 on Tuesday. The stock has a market cap of $85.11 billion, a PE ratio of 11.53, a P/E/G ratio of 1.82 and a beta of 1.08. The company has a current ratio of 0.79, a quick ratio of 0.78 and a debt-to-equity ratio of 0.74. U.S. Bancorp has a twelve month low of $42.47 and a twelve month high of $63.01. The stock has a fifty day simple moving average of $60.44 and a 200-day simple moving average of $58.54.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 15th. Investors of record on Thursday, September 30th were paid a $0.46 dividend. The ex-dividend date of this dividend was Wednesday, September 29th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.42. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.21%. U.S. Bancorp’s payout ratio is 36.95%.
About U.S. Bancorp
U.S. Bancorp operates as a bank holding company, which offers financial services including lending and depository services, cash management, foreign exchange and trust and investment management. The firm also offers mortgage, refinance, auto, boat and RV loans, credit lines, credit card services, merchant, bank, checking and savings accounts, debit cards, online and mobile banking, ATM processing, mortgage banking, insurance, brokerage and leasing services.
Featured Story: How does the Federal Reserve determine interest rates?
For more information about research offerings from Zacks Investment Research, visit Zacks.com