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

U.S. Bancorp (NYSE:USB) announced its quarterly earnings data on Wednesday. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.01, Briefing.com reports. U.S. Bancorp had a return on equity of 14.89% and a net margin of 13.36%. The firm had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the prior year, the firm posted $1.16 earnings per share. U.S. Bancorp’s revenue for the quarter was down 6.4% compared to the same quarter last year.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $39.52 on Thursday. The stock has a fifty day moving average of $42.33 and a 200-day moving average of $39.72. The company has a market capitalization of $61.58 billion, a PE ratio of 12.05, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05. U.S. Bancorp has a one year low of $27.27 and a one year high of $45.85. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.81 and a current ratio of 0.81.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.96%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 59.76%.

Insider Activity

In other news, EVP James L. Chosy sold 21,582 shares of the stock in a transaction 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 owns 164,880 shares in the company, valued at $6,837,573.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP James L. Chosy sold 21,582 shares of the stock in a transaction 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 owns 164,880 shares in the company, valued at $6,837,573.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Terrance R. Dolan sold 26,583 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total value of $1,152,904.71. Following the completion of the sale, the insider now owns 144,236 shares of the company’s stock, valued at approximately $6,255,515.32. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

Institutional Trading of U.S. Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the company. Compass Wealth Management LLC purchased a new stake in shares of U.S. Bancorp during the fourth quarter worth $39,000. Pacific Center for Financial Services purchased a new stake in shares of U.S. Bancorp during the first quarter worth $36,000. Cornerstone Planning Group LLC purchased a new stake in shares of U.S. Bancorp during the second quarter worth $35,000. PCA Investment Advisory Services Inc. purchased a new stake in shares of U.S. Bancorp during the second quarter worth $36,000. Finally, Covestor Ltd raised its holdings in shares of U.S. Bancorp by 62.6% during the first quarter. Covestor Ltd now owns 1,424 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 548 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

USB has been the subject of several recent research reports. Royal Bank of Canada upped their target price on U.S. Bancorp from $43.00 to $47.00 and gave the company an “outperform” rating in a report on Thursday, January 18th. Stephens lowered U.S. Bancorp from an “overweight” rating to an “equal weight” rating in a report on Wednesday, December 20th. TheStreet raised U.S. Bancorp from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. Keefe, Bruyette & Woods lowered U.S. Bancorp from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $52.00 to $45.00 in a report on Thursday. Finally, Compass Point raised U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their target price for the company from $46.00 to $49.00 in a report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Hold” and a consensus price target of $47.09.

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.