$5.73 Billion in Sales Expected for U.S. Bancorp (USB) This Quarter

Analysts expect U.S. Bancorp (NYSE:USB) to post sales of $5.73 billion for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided 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 on Wednesday, July 17th.

According to Zacks, analysts expect that U.S. Bancorp will report full year sales of $22.91 billion for the current year, with estimates ranging from $22.68 billion to $23.02 billion. For the next fiscal year, analysts forecast that the business will report sales of $23.60 billion, with estimates ranging from $23.23 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, April 17th. The financial services provider reported $1.00 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.00. The company had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.62 billion. U.S. Bancorp had a net margin of 27.02% and a return on equity of 15.53%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.96 earnings per share.

Several research firms have commented on USB. Zacks Investment Research downgraded shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, April 15th. Robert W. Baird downgraded shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $51.00 target price for the company. in a research report on Monday, January 28th. Finally, Oppenheimer boosted their target price on shares of U.S. Bancorp from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $58.30.

In other news, Vice Chairman Gillern Jeffry H. Von sold 4,669 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $53.14, for a total value of $248,110.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman James B. Kelligrew sold 20,000 shares of the business’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $50.61, for a total transaction of $1,012,200.00. Following the completion of the sale, the insider now owns 49,495 shares of the company’s stock, valued at $2,504,941.95. 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 90 days. 0.24% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the company. WESPAC Advisors SoCal LLC acquired a new position in U.S. Bancorp during the 4th quarter valued at $27,000. Executive Wealth Management LLC acquired a new position in U.S. Bancorp during the 4th quarter valued at $27,000. Trustcore Financial Services LLC acquired a new position in U.S. Bancorp during the 1st quarter valued at $28,000. Gantzert Investment Co. LLC ADV acquired a new position in U.S. Bancorp during the 4th quarter valued at $32,000. Finally, ERTS Wealth Advisors LLC acquired a new position in U.S. Bancorp during the 4th quarter valued at $36,000. Institutional investors and hedge funds own 75.91% of the company’s stock.

USB stock traded down $0.10 during trading hours on Friday, hitting $52.12. The company’s stock had a trading volume of 4,832,943 shares, compared to its average volume of 6,477,507. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $85.58 billion, a price-to-earnings ratio of 12.71, a P/E/G ratio of 1.78 and a beta of 1.10. U.S. Bancorp has a 12 month low of $43.14 and a 12 month high of $55.56.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date was Thursday, March 28th. U.S. Bancorp’s payout ratio is 36.10%.

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.

Further Reading: Why Invest in Dividend Achievers?

Get a free copy of the Zacks research report on U.S. Bancorp (USB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for U.S. Bancorp (NYSE:USB)

Receive News & Ratings for U.S. Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.