Callahan Advisors Lowers stake in U.S. Bancorp (USB)

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Callahan Advisors Lowers stake in U.S. Bancorp (USB)

Stockholders of record on Friday, October 28th will be paid a dividend of 0.12 per share on Wednesday, November 9th.

Results reflected higher revenues generated on the back of growth in net interest income (NII) as well as non-interest income.

Mortgage banking revenue rose 40.2 percent to $314 million while net interest income rose to $2.89 billion from $2.77 billion past year.

However, on the down side, the quarter witnessed higher expenses and provisions. As per Monday, December 21, the company rating was initiated by Wells Fargo.

Net income improved almost 1% year over year to $1.52 billion in third-quarter 2016. Revenues came at par with the Zacks Consensus Estimate. The company's revenue was up 8.1% compared to the same quarter past year. The EPS growth in the running year displays a value of 2.80%. The TTM operating margin is 78.6 percent.

During the quarter, the bank had set aside $325 million to cover bad loans, up 15.2 percent from a year earlier. U.S. Bancorp experienced its Day High at -2.25%, with its Day Low of 2.66%. Through sixty full-service community banking branches, Pacific Western provides commercial banking services, including real estate, construction and commercial loans, to small and medium-sized businesses. These increases were partially offset by lower employee benefits along with net occupancy and equipment expenses. On 7th Day after earnings release, U.S. Bancorp (NYSE:USB) surged to 3.48% from $41.37 to $42.81.

Average total deposits were up 10% from the prior-year quarter to $318.5 billion. The Bank's deposit accounts consist of interest-bearing checking, non-interest-bearing checking, regular savings, money market savings and time deposits. On average, equities research analysts forecast that United Financial Bancorp will post $0.87 earnings per share for the current fiscal year.

Total allowance for credit losses was $4.34 billion, up almost on a year-over-year basis.

Indicating how profitable U.S. Bancorp (NYSE:USB) is relative to its assets, the ROA value is displayed at 1.30%.

U.S. Bancorp (NYSE:USB) reported its previous quarter on 07/15/2016 where it reported the Actual Earnings of $0.83. Effective Jan 1, 2014, the regulatory capital requirements for the company comply with Basel III, subject to certain transition provisions from Basel I over the next four years to full implementation by Jan 1, 2018. At present, the PEG is valued at 2.91 alongside the P/S ratio of 5.78 and P/B ratio of 1.77. The Company's activities include acceptance of commercial; municipal and retail deposits; origination of mortgage loans on commercial and residential real estate located principally in MA and Rhode Island; origination of commercial loans and leases to small- and mid-sized businesses; investment in debt and equity securities, and the offering of cash management and investment advisory services.

Wedbush is following shares of U.S. Bancorp (USB), so its rating change is noteworthy. (NASDAQ:EWBC) got boosted by 0.5 per cent through the trading floor to reach at $38.53 as its next quarterly earnings report date is October 19, 2016.

U.S. Bancorp posted an encouraging quarter.

NN Investment Partners Holdings N.V. bought a new stake in shares of United Financial Bancorp during the first quarter worth approximately $342,000.

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