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U.S. Bancorp Prepares to Report Q3 Earnings as Revenue Growth Is Expected to Accelerate

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USB$56.89 −0.92%

U.S. Bancorp (NYSE:USB) is scheduled to report its quarterly financial results this Thursday before the market opens. Wall Street expects the financial services company to deliver 9.1% year-over-year revenue growth, an acceleration from the 5.1% increase recorded in the same quarter last year. Analysts covering the bank have largely reconfirmed their estimates over the past 30 days.

The upcoming report follows a mixed performance last quarter, when U.S. Bancorp reported $7.76 billion in revenue—up 9.9% year over year—beating Wall Street expectations alongside a beat on earnings per share estimates. However, the bank missed estimates for tangible book value per share. Meanwhile, results from peer banks have shown mixed outcomes, with Citigroup reporting 7.9% revenue growth to beat estimates, while JPMorgan Chase reported 8% growth but missed expectations.

Diversified bank stocks have generally underperformed recently, falling 7.5% on average over the last month. U.S. Bancorp shares have dropped 9% during the same period to trade around $56.89, while analysts maintain an average price target of $69 for the stock.

Key points

  • U.S. Bancorp will report earnings this Thursday before market open.
  • Analysts expect quarterly revenue growth of 9.1% year over year, up from 5.1% in the prior-year period.
  • In the previous quarter, U.S. Bancorp beat revenue and earnings per share forecasts but missed tangible book value estimates.
  • Shares of U.S. Bancorp have declined 9% over the past month, with an average analyst price target of $69.

Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org

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Questions and answers

When does U.S. Bancorp report its earnings?

U.S. Bancorp is scheduled to report its quarterly financial results this Thursday before the stock market opens.

What are analysts expecting for U.S. Bancorp's revenue growth?

Wall Street expects revenue to increase by 9.1% year over year, showing an improvement from the 5.1% growth recorded in the same period last year.

How has U.S. Bancorp stock performed recently?

Shares of U.S. Bancorp have fallen 9% over the past month, trading around $57, while the average analyst price target stands at $69.