$5.60 Billion in Sales Expected for U.S. Bancorp (USB) This Quarter

Wall Street brokerages forecast that U.S. Bancorp (NYSE:USB) will report sales of $5.60 billion for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for U.S. Bancorp’s earnings, with estimates ranging from $5.54 billion to $5.65 billion. U.S. Bancorp posted sales of $5.44 billion in the same quarter last year, which suggests a positive year over year growth rate of 2.9%. The business is scheduled to announce its next earnings results on Wednesday, April 17th.

According to Zacks, analysts expect that U.S. Bancorp will report full year sales of $23.14 billion for the current fiscal year, with estimates ranging from $22.70 billion to $23.34 billion. For the next year, analysts anticipate that the business will report sales of $23.99 billion, with estimates ranging from $23.40 billion to $24.52 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover U.S. Bancorp.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The company had revenue of $5.83 billion for the quarter, compared to analysts’ expectations of $5.73 billion. U.S. Bancorp had a return on equity of 15.64% and a net margin of 27.53%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the business posted $0.88 earnings per share.

A number of equities research analysts have issued reports on the company. Zacks Investment Research cut U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, December 11th. ValuEngine cut U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 16th. Finally, Robert W. Baird cut U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $51.00 target price on the stock. in a research note on Monday, January 28th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $58.00.

USB stock traded down $0.49 during mid-day trading on Friday, reaching $50.95. The company had a trading volume of 10,667,486 shares, compared to its average volume of 7,323,844. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $83.20 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 1.58 and a beta of 1.08. U.S. Bancorp has a one year low of $43.14 and a one year high of $56.10.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date was Friday, December 28th. U.S. Bancorp’s dividend payout ratio (DPR) is 36.10%.

In other news, EVP Mark G. Runkel sold 6,347 shares of the firm’s stock in a transaction on Monday, November 12th. The stock was sold at an average price of $53.20, for a total transaction of $337,660.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Leslie V. Godridge sold 14,737 shares of the firm’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $51.50, for a total value of $758,955.50. Following the transaction, the insider now directly owns 61,737 shares in the company, valued at $3,179,455.50. The disclosure for this sale can be found here. Insiders have sold 51,404 shares of company stock worth $2,722,228 over the last three months. Corporate insiders own 0.43% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of USB. Wells Fargo & Company MN grew its holdings in U.S. Bancorp by 3.5% during the third quarter. Wells Fargo & Company MN now owns 22,390,287 shares of the financial services provider’s stock worth $1,182,431,000 after acquiring an additional 750,796 shares during the period. Veritable L.P. grew its holdings in U.S. Bancorp by 1.9% during the third quarter. Veritable L.P. now owns 130,364 shares of the financial services provider’s stock worth $6,885,000 after acquiring an additional 2,418 shares during the period. Creative Planning grew its holdings in U.S. Bancorp by 1.0% during the third quarter. Creative Planning now owns 313,653 shares of the financial services provider’s stock worth $16,564,000 after acquiring an additional 3,100 shares during the period. CI Investments Inc. grew its holdings in U.S. Bancorp by 2.3% during the third quarter. CI Investments Inc. now owns 915,600 shares of the financial services provider’s stock worth $48,353,000 after acquiring an additional 21,000 shares during the period. Finally, Captrust Financial Advisors grew its holdings in U.S. Bancorp by 33.8% during the third quarter. Captrust Financial Advisors now owns 78,458 shares of the financial services provider’s stock worth $4,171,000 after acquiring an additional 19,817 shares during the period. 75.27% of the stock is currently owned by institutional investors.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through 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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