Equities analysts expect that U.S. Bancorp (NYSE:USB) will announce sales of $5.60 billion for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for U.S. Bancorp’s earnings. The lowest sales estimate is $5.57 billion and the highest is $5.65 billion. U.S. Bancorp posted sales of $5.39 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.9%. The firm is expected to issue its next quarterly earnings results before the market opens on Wednesday, January 17th.
According to Zacks, analysts expect that U.S. Bancorp will report full year sales of $5.60 billion for the current fiscal year, with estimates ranging from $21.83 billion to $22.06 billion. For the next fiscal year, analysts anticipate that the company will report sales of $22.97 billion per share, with estimates ranging from $22.74 billion to $23.46 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for U.S. Bancorp.
U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, October 18th. The financial services provider reported $0.88 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.88. The company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.60 billion. U.S. Bancorp had a return on equity of 13.91% and a net margin of 25.46%. The business’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 EPS.
Several equities analysts have recently commented on the company. Barclays increased their target price on U.S. Bancorp from $60.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Morgan Stanley raised their price objective on U.S. Bancorp from $51.00 to $55.00 and gave the stock an “underweight” rating in a research note on Thursday, October 19th. Oppenheimer restated a “hold” rating on shares of U.S. Bancorp in a research note on Thursday, October 19th. Piper Jaffray Companies upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $61.00 price objective on the stock in a research note on Friday. Finally, Nomura cut U.S. Bancorp from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $57.00 to $55.00 in a research note on Thursday, September 28th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company’s stock. U.S. Bancorp has a consensus rating of “Hold” and an average target price of $55.71.
A number of hedge funds and other institutional investors have recently modified their holdings of USB. New England Asset Management Inc. increased its position in U.S. Bancorp by 52.5% in the first quarter. New England Asset Management Inc. now owns 26,571,846 shares of the financial services provider’s stock worth $1,368,451,000 after buying an additional 9,150,126 shares during the period. Soros Fund Management LLC acquired a new stake in U.S. Bancorp in the first quarter worth $1,061,000. Gotham Asset Management LLC increased its position in U.S. Bancorp by 71.5% in the first quarter. Gotham Asset Management LLC now owns 18,051 shares of the financial services provider’s stock worth $930,000 after buying an additional 7,525 shares during the period. AQR Capital Management LLC increased its position in U.S. Bancorp by 54.2% in the first quarter. AQR Capital Management LLC now owns 4,698,271 shares of the financial services provider’s stock worth $241,961,000 after buying an additional 1,652,219 shares during the period. Finally, National Asset Management Inc. increased its position in U.S. Bancorp by 10.0% in the first quarter. National Asset Management Inc. now owns 5,385 shares of the financial services provider’s stock worth $279,000 after buying an additional 491 shares during the period. 73.95% of the stock is currently owned by hedge funds and other institutional investors.
U.S. Bancorp (NYSE:USB) opened at $55.32 on Friday. The company has a market capitalization of $91,800.00, a P/E ratio of 16.46, a PEG ratio of 1.94 and a beta of 0.85. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.82 and a current ratio of 0.83. U.S. Bancorp has a one year low of $49.53 and a one year high of $56.61.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Thursday, December 28th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 35.71%.
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U.S. Bancorp Company Profile
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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