1/15, 1:04 PM (Source: TeleTrader)
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US Bancorp's diluted EPS drop to $0.9 in Q4

US Bancorp announced on Wednesday its earnings per share (EPS) in the fourth quarter of 2019 stood at $0.90, marking a decrease of 21.7% compared to the same time period last year. The net income amounted to $1.49 billion, down from $1.86 billion in the fourth quarter of 2018. The company's fourth quarter net revenue was $5.6 billion, down from $5.8 billion in the same period last year.

The Minneapolis-based company said diluted earnings per share for 2019 stood at $4.16, marking a 0.5% increase compared to 2018. Net interest income fell 2.9% compared to the fourth quarter of 2018 and stood at $3.21 billion. In the entire 2019, US Bancorp's total net revenue was $22.9 billion, up from $22.6 in 2018, representing a 1.5% increase.

"During the quarter, we returned $2.9 billion of earnings to shareholders through dividends and an expanded share buyback program," the President and CEO of the company Andy Cecere said. "Our focus on value creation supported continued customer acquisition... which drove strong account and volume growth in our fee businesses and strong loan and deposit growth in our banking businesses," he added.

Breaking the News / DD