- U.S. Bancorp (NYSE:USB) is scheduled to announce Q3 earnings results on Thursday, October 14th, before market open.
- Banks have started reporting their Q3 results from Wednesday, and according to analysts they're likely to benefit from another quarter of loan loss reserve releases and increased stock buybacks as loan growth remains tepid.
- U.S. Bancorp (NYSE:USB) Q3 consensus EPS Estimate is $1.16 (+17.2% Y/Y) and the consensus Revenue Estimate is $5.76B (-3.4% Y/Y).
- Over the last 2 years, USB has beaten EPS estimates 75% of the time and has beaten revenue estimates 75% of the time.
- Over the last 3 months, EPS estimates have seen 13 upward revisions and 3 downward. Revenue estimates have seen 7 upward revisions and 1 downward.
- Analysts expect net interest margin estimate to be 2.53%; Provision for credit losses estimate $54.8M; Basel III common equity Tier 1 ratio estimate 9.96%; and Net charge-offs estimate $204.5M.
- Non-interest expenses estimate $3.39B; Net interest income FTE estimate $3.19B; while non-interest income estimate is $2.56B, according to analysts.
- U.S. Bancorp's (USB) Q2 earnings were buoyed by improving economy and payments volume.
- The company's Q2 EPS and revenue results also beat analysts estimates.
- The company's stock rose +3.21% on July 15, the day it reported its Q2 earnings.
- U.S. Bancorp (USB) was also busy in the M&A arena in Q3: The bank acquired MUFG Union Bank’s core regional banking franchise from Mitsubishi UFJ Financial Group (OTCPK:MBFJF) (NYSE:MUFG) in an ~$8B cash and stock deal.
- The company is also acquiring Bento Technologies to bolster services for small businesses.
- More recently in Q4, the bank launched cryptocurrency custody services to its global funds services clients.