U.S. Bancorp (USB) to Release Earnings on Thursday

U.S. Bancorp (NYSE:USB) will release its earnings data before the market opens on Thursday, January 16th. Analysts expect U.S. Bancorp to post earnings of $1.06 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.04. The business had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.05 earnings per share. On average, analysts expect U.S. Bancorp to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

U.S. Bancorp Stock Down 0.4 %

Shares of USB stock opened at $48.50 on Thursday. The company has a market capitalization of $75.66 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 3.01 and a beta of 1.05. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The company’s fifty day moving average price is $50.20 and its 200-day moving average price is $46.40. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98.

U.S. Bancorp announced that its board has initiated a stock repurchase plan on Thursday, September 12th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.12%. The ex-dividend date is Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 61.16%.

Analyst Upgrades and Downgrades

USB has been the topic of several recent research reports. Oppenheimer decreased their price objective on U.S. Bancorp from $66.00 to $62.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Truist Financial assumed coverage on shares of U.S. Bancorp in a research report on Tuesday. They set a “hold” rating and a $54.00 price objective for the company. Compass Point boosted their target price on shares of U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Stephens increased their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, Citigroup upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the company from $49.00 to $65.00 in a research report on Monday, November 25th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, U.S. Bancorp has a consensus rating of “Hold” and an average price target of $54.07.

Insiders Place Their Bets

In other news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $49.03, for a total value of $1,225,750.00. Following the completion of the transaction, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. This trade represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.23% of the stock is owned by insiders.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.