U.S. Bancorp (USB) reported quarterly earnings results on Friday, Jul-15-2016. The company said it had a profit of $0.82 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.80. The company posted revenue of $5448.00 million in the period, compared to analysts expectations of $5208.03 million. The company’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 EPS.
Many Wall Street Analysts have commented on U.S. Bancorp. Shares were Reiterated by Compass Point on Apr 21, 2016 to “Neutral” and Lowered the Price Target to $ 46 from a previous price target of $48 .Shares were Downgraded by Robert W. Baird on Apr 21, 2016 to ” Neutral” and Lowered the Price Target to $ 42 from a previous price target of $45 .
U.S. Bancorp closed down -0.04 points or -0.10% at $40.63 with 62,39,897 shares getting traded on Wednesday. Post opening the session at $40.75, the shares hit an intraday low of $40.4681 and an intraday high of $40.9 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on May 19, 2016, Craig E Gifford (EVP and Controller) sold 400 shares at $41.73 per share price. According to the SEC, on Apr 29, 2016, Terrance R Dolan (Vice Chairman) sold 7,000 shares at $43.05 per share price. On Apr 29, 2016, Jennie P Carlson (EVP, Human Resources) sold 50,000 shares at $43.51 per share price, according to the Form-4 filing with the securities and exchange commission.
U.S. Bancorp is a multi-state financial services holding company. The Company operates through its banking subsidiary U.S. Bank National Association is engaged in the general banking business in domestic markets. The Company provides a range of financial services including lending and depository services cash management capital markets and trust and investment management services. It also engages in credit card services merchant and automated teller machines (ATM) processing mortgage banking insurance brokerage and leasing. U.S. Bank National Association provides a range of products and services to individuals businesses institutional organizations governmental entities and other financial institutions. Its commercial and consumer lending services are offered to customers within the Company’s domestic markets to domestic customers with foreign operations and to large national customers operating in specific industries targeted by the Company.