U.S. Bancorp (NYSE:USB) Issues Quarterly Earnings Results

U.S. Bancorp (NYSE:USB) posted its earnings results on Wednesday. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01, Briefing.com reports. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The business had revenue of $6.72 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same quarter last year, the firm earned $1.16 earnings per share. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year.

U.S. Bancorp Trading Down 0.2 %

Shares of NYSE USB opened at $39.44 on Friday. The company has a market cap of $61.45 billion, a price-to-earnings ratio of 13.06, a price-to-earnings-growth ratio of 2.04 and a beta of 1.05. U.S. Bancorp has a 12-month low of $27.27 and a 12-month high of $45.85. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07. The stock’s 50 day simple moving average is $42.31 and its 200 day simple moving average is $39.72.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date was Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio is presently 64.90%.

Insider Buying and Selling

In related news, EVP James L. Chosy sold 21,582 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $41.47, for a total value of $895,005.54. Following the sale, the executive vice president now owns 164,880 shares of the company’s stock, valued at approximately $6,837,573.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Terrance R. Dolan sold 26,583 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total value of $1,152,904.71. Following the sale, the insider now owns 144,236 shares of the company’s stock, valued at approximately $6,255,515.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP James L. Chosy sold 21,582 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the sale, the executive vice president now directly owns 164,880 shares in the company, valued at approximately $6,837,573.60. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

Institutional Trading of U.S. Bancorp

Several large investors have recently added to or reduced their stakes in USB. Cornerstone Planning Group LLC acquired a new position in shares of U.S. Bancorp during the 2nd quarter valued at $35,000. PCA Investment Advisory Services Inc. acquired a new position in shares of U.S. Bancorp during the 2nd quarter valued at $36,000. Pacific Center for Financial Services acquired a new position in shares of U.S. Bancorp during the 1st quarter valued at $36,000. Compass Wealth Management LLC bought a new stake in shares of U.S. Bancorp during the 4th quarter worth $39,000. Finally, Jefferies Financial Group Inc. bought a new stake in shares of U.S. Bancorp during the 4th quarter worth $58,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on USB. UBS Group increased their target price on U.S. Bancorp from $35.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, January 17th. Piper Sandler reiterated a “neutral” rating on shares of U.S. Bancorp in a research note on Friday, January 26th. Royal Bank of Canada increased their target price on U.S. Bancorp from $43.00 to $47.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. StockNews.com lowered U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, February 20th. Finally, Oppenheimer lowered their target price on U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $46.91.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.