Brokerages predict that U.S. Bancorp (NYSE:USB) will report sales of $5.53 billion for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for U.S. Bancorp’s earnings. The lowest sales estimate is $5.51 billion and the highest is $5.55 billion. U.S. Bancorp posted sales of $5.27 billion in the same quarter last year, which suggests a positive year over year growth rate of 4.9%. The company is expected to issue its next quarterly earnings results before the market opens on Wednesday, April 18th.
According to Zacks, analysts expect that U.S. Bancorp will report full year sales of $5.53 billion for the current fiscal year, with estimates ranging from $22.74 billion to $23.33 billion. For the next financial year, analysts anticipate that the business will post sales of $24.04 billion per share, with estimates ranging from $23.72 billion to $24.76 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow U.S. Bancorp.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.01. The company had revenue of $5.64 billion during the quarter, compared to analyst estimates of $5.59 billion. U.S. Bancorp had a return on equity of 13.89% and a net margin of 25.91%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the company earned $0.82 earnings per share.
Several research firms recently issued reports on USB. Zacks Investment Research lowered U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. Morgan Stanley lifted their price objective on U.S. Bancorp from $60.00 to $61.00 and gave the company an “underweight” rating in a research note on Friday, February 2nd. JPMorgan Chase & Co. lowered U.S. Bancorp from a “neutral” rating to an “underweight” rating and set a $58.50 price objective for the company. in a research note on Wednesday, January 31st. Vining Sparks reissued a “hold” rating and set a $61.00 price objective on shares of U.S. Bancorp in a research note on Thursday, January 25th. Finally, Deutsche Bank raised U.S. Bancorp from a “hold” rating to a “buy” rating and lifted their price objective for the company from $60.00 to $63.00 in a research note on Thursday, January 25th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $58.64.
In other U.S. Bancorp news, EVP Craig E. Gifford sold 45,890 shares of U.S. Bancorp stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $55.35, for a total transaction of $2,540,011.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman P.W. Parker sold 98,485 shares of U.S. Bancorp stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $55.95, for a total value of $5,510,235.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 168,016 shares of company stock valued at $9,356,775. Corporate insiders own 0.43% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board lifted its stake in shares of U.S. Bancorp by 7.5% in the 2nd quarter. Ontario Teachers Pension Plan Board now owns 210,974 shares of the financial services provider’s stock valued at $10,954,000 after acquiring an additional 14,678 shares during the last quarter. Rockefeller Financial Services Inc. lifted its stake in shares of U.S. Bancorp by 57.1% in the 3rd quarter. Rockefeller Financial Services Inc. now owns 32,886 shares of the financial services provider’s stock valued at $1,762,000 after acquiring an additional 11,950 shares during the last quarter. MPS Loria Financial Planners LLC bought a new stake in shares of U.S. Bancorp in the 2nd quarter valued at about $334,000. Farmers & Merchants Investments Inc. lifted its stake in shares of U.S. Bancorp by 32.7% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 420,868 shares of the financial services provider’s stock valued at $22,554,000 after acquiring an additional 103,768 shares during the last quarter. Finally, BRYN MAWR TRUST Co lifted its stake in shares of U.S. Bancorp by 79.6% in the 2nd quarter. BRYN MAWR TRUST Co now owns 201,049 shares of the financial services provider’s stock valued at $10,438,000 after acquiring an additional 89,109 shares during the last quarter. 74.42% of the stock is owned by institutional investors.
Shares of U.S. Bancorp (USB) opened at $53.36 on Friday. The stock has a market capitalization of $88,150.00, a price-to-earnings ratio of 17.97, a P/E/G ratio of 1.78 and a beta of 0.89. U.S. Bancorp has a 52 week low of $49.53 and a 52 week high of $58.50. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.81 and a current ratio of 0.82.
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About U.S. Bancorp
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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