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U.S. Bancorp (USB) Q1 Earnings Beat on High Revenues

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Have you been eager to see how U.S. Bancorp (USB - Free Report) performed in Q1 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:

An Earnings Beat

U.S. Bancorp came out with earnings per share of 82 cents, beating the Zacks Consensus Estimate of 80 cents. Higher revenues were primarily responsible for this earnings beat.

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 has remained unchanged over the last 7 days.    

Moreover, U.S. Bancorp has a decent earnings surprise history. Before posting earnings beat in Q1, 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 1.26% 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 Higher Than Expected   
 
U.S. Bancorp posted revenues of $5.32 billion, beating the Zacks Consensus Estimate of $5.29 billion. Moreover, it compared favorably with the year-ago number of $5.04 billion.

Key Stats to Note:

  • Average total loans recorded 4.1% year over year growth
  • Average total deposits recorded 11.0% year over year growth
  • Through dividends and repurchase of common shares, 78% of 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. While things apparently look favorable, 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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