Wall Street brokerages expect U.S. Bancorp (NYSE:USB) to announce sales of $5.73 billion for the current quarter, Zacks reports. Six analysts have issued estimates for U.S. Bancorp’s earnings, with the lowest sales estimate coming in at $5.69 billion and the highest estimate coming in at $5.76 billion. U.S. Bancorp posted sales of $5.61 billion during the same quarter last year, which suggests a positive year over year growth rate of 2.1%. The business is expected to report 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 financial year, with estimates ranging from $22.62 billion to $22.96 billion. For the next year, analysts expect that the company will post sales of $23.49 billion, with estimates ranging from $22.85 billion to $23.79 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow U.S. Bancorp.
U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. U.S. Bancorp had a net margin of 27.02% and a return on equity of 15.53%. The firm had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same quarter in the prior year, the firm earned $1.02 EPS. U.S. Bancorp’s quarterly revenue was down 1.1% on a year-over-year basis.
NYSE USB traded up $1.18 on Friday, hitting $54.22. The stock had a trading volume of 8,357,569 shares, compared to its average volume of 5,962,674. U.S. Bancorp has a one year low of $43.14 and a one year high of $55.56. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a market cap of $84.57 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 1.78 and a beta of 1.06. The firm’s 50-day simple moving average is $52.49.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend was Thursday, June 27th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 36.10%.
U.S. Bancorp declared that its board has initiated a stock repurchase plan on Thursday, June 27th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
In other news, Vice Chairman Gillern Jeffry H. Von sold 4,669 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $53.14, for a total value of $248,110.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Leslie V. Godridge sold 12,564 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $51.53, for a total transaction of $647,422.92. Following the completion of the transaction, the insider now owns 39,330 shares of the company’s stock, valued at $2,026,674.90. The disclosure for this sale can be found here. Insiders sold 37,233 shares of company stock valued at $1,907,734 over the last quarter. Insiders own 0.24% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Trustcore Financial Services LLC bought a new stake in U.S. Bancorp during the first quarter worth approximately $28,000. Executive Wealth Management LLC bought a new stake in U.S. Bancorp during the fourth quarter worth approximately $27,000. Catamount Wealth Management boosted its holdings in U.S. Bancorp by 525.0% during the first quarter. Catamount Wealth Management now owns 750 shares of the financial services provider’s stock worth $36,000 after buying an additional 630 shares in the last quarter. ERTS Wealth Advisors LLC bought a new stake in U.S. Bancorp during the fourth quarter worth approximately $36,000. Finally, New Potomac Partners LLC bought a new stake in U.S. Bancorp during the first quarter worth approximately $37,000. Institutional investors and hedge funds own 74.63% of the company’s stock.
About U.S. Bancorp
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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