U.S. Bancorp (USB) Scheduled to Post Earnings on Wednesday

Posted by Defense World Staff on Apr 12th, 2023

U.S. Bancorp logo U.S. Bancorp (NYSE:USB – Get Rating) will be posting its quarterly earnings results before the market opens on Wednesday, April 19th. Analysts expect U.S. Bancorp to post earnings of $1.17 per share for the quarter. U.S. Bancorp has set its FY 2023 guidance at EPS and its Q1 2023 guidance at EPS.Investors interested in participating in the company’s conference call can do so using this link.

U.S. Bancorp (NYSE:USB – Get Rating) last released its quarterly earnings results on Wednesday, January 25th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.09. U.S. Bancorp had a return on equity of 16.13% and a net margin of 21.26%. The company had revenue of $6.37 billion during the quarter, compared to analysts’ expectations of $6.61 billion. During the same quarter in the prior year, the firm posted $1.07 EPS. U.S. Bancorp’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, analysts expect U.S. Bancorp to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

U.S. Bancorp Trading Down 0.2 %

Shares of NYSE:USB opened at $35.53 on Wednesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.79 and a quick ratio of 0.78. The firm has a market capitalization of $54.42 billion, a price-to-earnings ratio of 9.58, a price-to-earnings-growth ratio of 1.13 and a beta of 0.93. U.S. Bancorp has a 1 year low of $32.72 and a 1 year high of $53.88. The business’s 50 day moving average price is $42.32 and its 200-day moving average price is $43.22.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Friday, March 31st will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 5.40%. The ex-dividend date is Thursday, March 30th. U.S. Bancorp’s dividend payout ratio is presently 51.75%.

Institutional Investors Weigh In On U.S. Bancorp

Large investors have recently modified their holdings of the company. Compass Wealth Management LLC purchased a new stake in shares of U.S. Bancorp during the 4th quarter worth approximately $39,000. Jefferies Financial Group Inc. acquired a new stake in shares of U.S. Bancorp in the 4th quarter valued at approximately $58,000. Resurgent Financial Advisors LLC purchased a new stake in shares of U.S. Bancorp during the 4th quarter worth $67,000. Covestor Ltd grew its position in U.S. Bancorp by 62.6% during the first quarter. Covestor Ltd now owns 1,424 shares of the financial services provider’s stock worth $76,000 after buying an additional 548 shares during the period. Finally, Salem Investment Counselors Inc. grew its holdings in shares of U.S. Bancorp by 14.8% in the 4th quarter. Salem Investment Counselors Inc. now owns 3,136 shares of the financial services provider’s stock worth $138,000 after acquiring an additional 405 shares during the period. 71.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on USB. Citigroup increased their price objective on U.S. Bancorp from $50.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, January 27th. Royal Bank of Canada decreased their price target on shares of U.S. Bancorp from $55.00 to $49.00 and set an “outperform” rating on the stock in a research note on Friday, March 24th. Robert W. Baird upgraded shares of U.S. Bancorp from a “neutral” rating to an “outperform” rating and set a $52.00 price objective for the company in a report on Monday, March 20th. Oppenheimer decreased their target price on shares of U.S. Bancorp from $77.00 to $64.00 and set an “outperform” rating on the stock in a research note on Thursday, March 23rd. Finally, Morgan Stanley cut their price target on U.S. Bancorp from $56.00 to $46.00 and set an “equal weight” rating for the company in a report on Wednesday, April 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $52.58.

U.S. Bancorp Company Profile

(Get Rating)

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.