U.S. Bancorp Stock Jumped Over 4% in Morning Trading

Tiger Newspress2022-04-14

U.S. Bancorp (USB) came out with quarterly earnings of $0.99 per share, beating the Zacks Consensus Estimate of $0.93 per share. This compares to earnings of $1.45 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 6.45%. A quarter ago, it was expected that this company would post earnings of $1.11 per share when it actually produced earnings of $1.07, delivering a surprise of -3.60%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

U.S. Bancorp , which belongs to the Zacks Banks - Major Regional industry, posted revenues of $5.57 billion for the quarter ended March 2022, surpassing the Zacks Consensus Estimate by 0.44%. This compares to year-ago revenues of $5.44 billion. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

U.S. Bancorp shares have lost about 9.9% since the beginning of the year versus the S&P 500's decline of -6.7%.

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    2022-04-14
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