U.S. Bancorp (USB) Q3 Earnings Meet Expectations, Revenue Up

Have you been eager to see how U.S. BancorpUSB performed in Q3 in comparison with the market expectations? Let's quickly scan through the key facts from this Minneapolis-based popular bank's earnings release this morning:

In-line Earnings

U.S. Bancorp came out with earnings per share of 88 cents, in line with the Zacks Consensus Estimate. Higher revenues were offset by elevated expenses and provisions.

How Was the Estimate Revision Trend?

You should note that the earnings estimate revisions for U.S. Bancorp remained stable prior to the earnings release. The Zacks Consensus Estimate was unchanged over the last seven days.

However, U.S. Bancorp has an impressive earnings surprise history. Before posting in line earnings in Q3, in the prior four quarters, the company delivered positive surprises in three quarters, while in line earnings in the remaining quarter. Overall, the company surpassed the Zacks Consensus Estimate by an average of 1.23% in the trailing four quarters.

U.S. Bancorp Price and EPS Surprise

U.S. Bancorp Price and EPS Surprise | U.S. Bancorp Quote

Revenue Came In As Expected

U.S. Bancorp posted revenues of $5.6 billion, in line with the Zacks Consensus Estimate. It compared favorably with the year-ago number of $5.4 billion.

Key Stats to Note:

  • Net interest margin expanded 12 basis points year over year
  • Average total loans recorded 3% year over year growth
  • Non-performing assets declined 24.8% year over year
  • Through dividends and repurchase of common shares, 79% of earnings were returned to shareholders

What Zacks Rank Says

The estimate revisions that we discussed earlier have driven a Zacks Rank #4 (Sell) for U.S. Bancorp. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. It all depends on what sense the just-released report makes to the analysts.

(You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. )

Check back later for our full write up on this U.S. Bancorp earnings report!

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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