Have you been eager to see how U.S. Bancorp (USB - Free Report) performed in Q4 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 adjusted earnings per share of 88 cents that surpassed the Zacks Consensus Estimate of 87 cents. Higher revenues and lower provisions were partially offset by elevated expenses.
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 was unchanged over the last seven days.  Â
However, U.S. Bancorp has an impressive earnings surprise history. Before posting an earnings beat in Q4, 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 1.23% in the trailing four quarters.
U.S. Bancorp Price and EPS Surprise
U.S. Bancorp Price and EPS Surprise|Â U.S. Bancorp Quote
Revenue Came In As Expected Â
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U.S. Bancorp posted net revenues of $5.6 billion, in line with the Zacks Consensus Estimate. It compared favorably with the year-ago number of $5.4 billion.
Key Stats to Note:
- Net interest margin expanded 10 basis points year over year
- Average total loans recorded 2.5% year over year growth
- Non-performing assets declined 25.1% year over year
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.
