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U.S. Bancorp (USB) Reports Q3 Earnings As Expected

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 81 cents, in line with the Zacks Consensus Estimate. Higher revenues and lower provisions were offset by elevated non-interest expenses.

How Was the Estimate Revision Trend?

You should note that the earnings estimate revisions for U.S. Bancorp was stable prior to the earnings release. The Zacks Consensus Estimate has remained unchanged over the last 7 days.

Moreover, U.S. Bancorp has a decent earnings surprise history. Before posting in line earnings in Q3, the company delivered positive surprises in two of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 0.64% in the trailing four quarters.

Revenue Came As Expected

U.S. Bancorp posted revenues of $5.1 billion, almost in line with the Zacks Consensus Estimate. It compared favorably with the year-ago number of $5.0 billion.

Key Stats to Note:

  • Average total loans recorded 3.8% year over year growth
  • Average total deposits recorded 6.9% year over year growth
  • Through dividends and repurchase of 16 million common shares, 80% of third-quarter earnings were returned to shareholders

What Zacks Rank Says

The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) 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.

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

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US BANCORP (USB): Free Stock Analysis 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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