Wall Street brokerages forecast that U.S. Bancorp (NYSE:USB) will post $5.74 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for U.S. Bancorp’s earnings, with estimates ranging from $5.64 billion to $5.91 billion. U.S. Bancorp reported sales of $5.94 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 3.4%. The company is expected to issue its next earnings report on Wednesday, October 13th.
On average, analysts expect that U.S. Bancorp will report full-year sales of $22.69 billion for the current financial year, with estimates ranging from $22.49 billion to $23.02 billion. For the next year, analysts expect that the firm will report sales of $23.34 billion, with estimates ranging from $22.89 billion to $23.80 billion. Zacks’ sales averages are an average based on a survey of research firms that follow U.S. Bancorp.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.14. The company had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.62 billion. U.S. Bancorp had a net margin of 29.83% and a return on equity of 15.18%. U.S. Bancorp’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.41 earnings per share.
In other news, insider Katherine B. Quinn sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 18th. The shares were sold at an average price of $61.47, for a total value of $1,536,750.00. Also, insider Gillern Jeffry H. Von sold 19,385 shares of the firm’s stock in a transaction on Tuesday, April 27th. The stock was sold at an average price of $58.32, for a total value of $1,130,533.20. Following the completion of the sale, the insider now directly owns 93,308 shares of the company’s stock, valued at approximately $5,441,722.56. The disclosure for this sale can be found here. Insiders sold 98,908 shares of company stock worth $5,948,505 in the last 90 days. Company insiders own 0.23% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in U.S. Bancorp by 54.6% in the first quarter. JPMorgan Chase & Co. now owns 36,167,368 shares of the financial services provider’s stock worth $2,000,417,000 after acquiring an additional 12,779,463 shares during the period. Geode Capital Management LLC lifted its stake in U.S. Bancorp by 2.8% in the first quarter. Geode Capital Management LLC now owns 21,438,355 shares of the financial services provider’s stock worth $1,182,720,000 after acquiring an additional 589,802 shares during the period. Davis Selected Advisers lifted its stake in U.S. Bancorp by 7.7% in the first quarter. Davis Selected Advisers now owns 18,170,271 shares of the financial services provider’s stock worth $1,004,998,000 after acquiring an additional 1,296,831 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in U.S. Bancorp by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 17,779,557 shares of the financial services provider’s stock worth $828,350,000 after acquiring an additional 448,900 shares during the period. Finally, Norges Bank purchased a new stake in U.S. Bancorp in the fourth quarter worth $673,915,000. 74.12% of the stock is owned by institutional investors.
Shares of USB stock traded down $0.92 during trading on Monday, hitting $56.28. The company had a trading volume of 71,934 shares, compared to its average volume of 5,398,857. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 0.76. The business’s 50-day simple moving average is $58.41. The firm has a market cap of $83.84 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 1.74 and a beta of 1.14. U.S. Bancorp has a 52 week low of $34.17 and a 52 week high of $62.47.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 15th. Stockholders of record on Wednesday, June 30th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.99%. The ex-dividend date was Tuesday, June 29th. U.S. Bancorp’s dividend payout ratio is 54.90%.
U.S. Bancorp Company Profile
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.
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