U.S. Bancorp (NYSE:USB) Expected to Post Earnings of $0.76 Per Share

Brokerages expect U.S. Bancorp (NYSE:USB) to announce earnings per share (EPS) of $0.76 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for U.S. Bancorp’s earnings. The lowest EPS estimate is $0.15 and the highest is $0.98. U.S. Bancorp posted earnings per share of $1.15 in the same quarter last year, which would suggest a negative year-over-year growth rate of 33.9%. The company is scheduled to announce its next quarterly earnings report before the market opens on Wednesday, October 14th.

According to Zacks, analysts expect that U.S. Bancorp will report full-year earnings of $2.52 per share for the current financial year, with EPS estimates ranging from $1.49 to $2.93. For the next year, analysts forecast that the firm will post earnings of $2.70 per share, with EPS estimates ranging from $2.10 to $3.10. Zacks’ earnings per share averages are an average based on a survey of research analysts that follow U.S. Bancorp.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.03. The business had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.54 billion. U.S. Bancorp had a return on equity of 11.82% and a net margin of 19.70%. The company’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.09 earnings per share.

USB has been the subject of several research analyst reports. Deutsche Bank upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a report on Tuesday, July 28th. ValuEngine raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, September 5th. DA Davidson initiated coverage on U.S. Bancorp in a research report on Thursday, June 11th. They set a “buy” rating and a $47.00 target price on the stock. Morgan Stanley cut their target price on U.S. Bancorp from $43.00 to $41.00 and set an “underweight” rating on the stock in a research report on Thursday, June 11th. Finally, Zacks Investment Research raised U.S. Bancorp from a “strong sell” rating to a “hold” rating and set a $31.00 target price on the stock in a research report on Tuesday, June 2nd. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $45.68.

Hedge funds have recently modified their holdings of the business. Magellan Asset Management Ltd acquired a new position in U.S. Bancorp in the 1st quarter worth about $27,000. Costello Asset Management INC acquired a new position in U.S. Bancorp in the 2nd quarter worth about $37,000. RMR Wealth Builders acquired a new position in U.S. Bancorp in the 2nd quarter worth about $37,000. Bellevue Asset Management LLC increased its position in U.S. Bancorp by 68.6% in the 1st quarter. Bellevue Asset Management LLC now owns 1,079 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 439 shares during the last quarter. Finally, Ameritas Investment Company LLC increased its position in U.S. Bancorp by 28.7% in the 1st quarter. Ameritas Investment Company LLC now owns 2,091 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 466 shares during the last quarter. 73.22% of the stock is currently owned by institutional investors.

Shares of U.S. Bancorp stock traded down $0.27 during trading on Tuesday, hitting $37.62. The stock had a trading volume of 7,800,060 shares, compared to its average volume of 8,741,202. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.84 and a quick ratio of 0.82. The firm has a market cap of $56.67 billion, a P/E ratio of 11.83, a PEG ratio of 2.44 and a beta of 1.10. The business has a fifty day moving average of $37.05 and a two-hundred day moving average of $36.37. U.S. Bancorp has a fifty-two week low of $28.36 and a fifty-two week high of $61.11.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.47%. The ex-dividend date is Tuesday, September 29th. U.S. Bancorp’s payout ratio is currently 38.71%.

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.

Recommended Story: Debt-To-Equity Ratio

Get a free copy of the Zacks research report on U.S. Bancorp (USB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for U.S. Bancorp (NYSE:USB)

Receive News & Ratings for U.S. Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.