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:
U.S. Bancorp came out with first-quarter earnings per share of $1.00, in line with the Zacks Consensus Estimate. Higher revenues with support from loan growth and expansion of margins were primarily responsible for this beat.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for U.S. Bancorp depicted neutral stance prior to the earnings release. The Zacks Consensus Estimate remained stable over the last seven days.
Also, U.S. Bancorp has an impressive earnings surprise history. Before posting earnings beat in Q1, the company delivered positive surprises in all the prior four quarters. 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
Revenue Came as Expected
U.S. Bancorp posted revenues of $5.6 billion, in line with the Zacks Consensus Estimate. Also, it matched with the year-ago number.
Key Stats to Note:
- Net interest margin expanded 3 basis points year over year
- Average total loans recorded 0.8% sequential growth
- Non-performing assets declined 16.5% year over year
- Through dividends and repurchase of common shares, 77% 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!
Radical New Technology Creates $12.3 Trillion Opportunity
Imagine buying Microsoft stock in the early days of personal computers… or Motorola after it released the world’s first cell phone. These technologies changed our lives and created massive profits for investors.
Today, we’re on the brink of the next quantum leap in technology. 7 innovative companies are leading this “4th Industrial Revolution” - and early investors stand to earn the biggest profits.
See the 7 breakthrough stocks now>>