Wall Street brokerages expect that U.S. Bancorp (NYSE:USB) will report $5.73 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for U.S. Bancorp’s earnings. The lowest sales estimate is $5.69 billion and the highest is $5.76 billion. U.S. Bancorp reported sales of $5.61 billion during the same quarter last year, which indicates a positive year over year growth rate of 2.1%. The business is expected to announce its next 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 financial year, analysts forecast that the business will report sales of $23.49 billion, with estimates ranging from $22.85 billion to $23.79 billion. Zacks’ sales 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 17th. The financial services provider reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.02. U.S. Bancorp had a return on equity of 15.53% and a net margin of 27.02%. The business had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.73 billion. During the same period in the previous year, the business earned $1.02 earnings per share. The business’s revenue was down 1.1% on a year-over-year basis.
Shares of U.S. Bancorp stock traded up $1.18 during trading hours on Friday, hitting $54.22. The company’s stock had a trading volume of 8,357,569 shares, compared to its average volume of 5,962,674. The stock has a 50 day moving average price of $52.49. U.S. Bancorp has a 12-month low of $43.14 and a 12-month high of $55.56. The firm has a market cap of $84.57 billion, a P/E ratio of 13.22, a PEG ratio of 1.78 and a beta of 1.06. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.87.
U.S. Bancorp announced that its Board of Directors has authorized a stock buyback program on Thursday, June 27th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 3.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a $0.37 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.73%. U.S. Bancorp’s dividend payout ratio is currently 36.10%.
In other U.S. Bancorp news, Vice Chairman Leslie V. Godridge sold 12,564 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $51.53, for a total transaction of $647,422.92. Following the sale, the insider now directly owns 39,330 shares of the company’s stock, valued at $2,026,674.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Gillern Jeffry H. Von sold 4,669 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $53.14, for a total value of $248,110.66. The disclosure for this sale can be found here. Insiders have sold 37,233 shares of company stock worth $1,907,734 over the last three months. 0.24% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of USB. Trustcore Financial Services LLC bought a new position in shares of U.S. Bancorp during the first quarter valued at approximately $28,000. Executive Wealth Management LLC bought a new position in shares of U.S. Bancorp during the fourth quarter valued at approximately $27,000. Catamount Wealth Management grew its stake in shares of U.S. Bancorp by 525.0% during the first 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. ERTS Wealth Advisors LLC bought a new position in shares of U.S. Bancorp during the fourth quarter valued at approximately $36,000. Finally, New Potomac Partners LLC bought a new position in shares of U.S. Bancorp during the first quarter valued at approximately $37,000. 74.63% of the stock is currently owned by institutional investors.
U.S. Bancorp Company Profile
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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