U.S. Bancorp (USB) announced its most recent quarterly financial results on Wednesday, Oct-19-2016. USB said it had a profit of $0.84 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.83. The company posted revenue of $5388.00 million in the period, compared to analysts expectations of $5374.60 million. USB’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 EPS.
Many Wall Street Analysts have commented on U.S. Bancorp. Wedbush Initiated U.S. Bancorp on Oct 7, 2016 to “Neutral”, Price Target of the shares are set at $46.
U.S. Bancorp closed down -0.03 points or -0.07% at $42.85 with 57,85,382 shares getting traded on Friday. Post opening the session at $43.32, the shares hit an intraday low of $42.7201 and an intraday high of $43.44 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Aug 9, 2016, Olivia F Kirtley (director) sold 1,454 shares at $42.87 per share price. According to the SEC, on Jul 25, 2016, Kent V. Stone (Vice Chairman) sold 29,947 shares at $42.11 per share price. On Jul 25, 2016, Terrance R Dolan (Vice Chairman) sold 5,000 shares at $42.03 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.