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

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

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $39.44 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81. U.S. Bancorp has a 12 month low of $27.27 and a 12 month high of $45.85. The firm has a market capitalization of $61.45 billion, a P/E ratio of 13.06, a P/E/G ratio of 2.04 and a beta of 1.05. The company’s fifty day moving average price is $42.31 and its 200 day moving average price is $39.72.

U.S. Bancorp Announces Dividend

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

Insider Buying and Selling at U.S. Bancorp

In other news, insider Terrance R. Dolan sold 26,583 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 144,236 shares of the company’s stock, valued at approximately $6,255,515.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP James L. Chosy sold 21,582 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $41.47, for a total transaction of $895,005.54. Following the transaction, the executive vice president now directly owns 164,880 shares in the company, valued at $6,837,573.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Terrance R. Dolan sold 26,583 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total transaction 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. 0.23% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of USB. Compass Wealth Management LLC purchased a new stake in shares of U.S. Bancorp in the fourth quarter valued at about $39,000. Pacific Center for Financial Services purchased a new position in shares of U.S. Bancorp in the 1st quarter valued at approximately $36,000. Cornerstone Planning Group LLC acquired a new position in shares of U.S. Bancorp in the second quarter valued at approximately $35,000. PCA Investment Advisory Services Inc. purchased a new stake in shares of U.S. Bancorp during the second quarter worth approximately $36,000. Finally, Covestor Ltd lifted 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 purchasing an additional 548 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on USB. HSBC raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and increased their target price for the stock from $47.00 to $53.00 in a research note on Thursday, March 28th. Barclays dropped their target price on shares of U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday. Royal Bank of Canada upped their price target on U.S. Bancorp from $43.00 to $47.00 and gave the stock an “outperform” rating in a research note on Thursday, January 18th. Evercore ISI lifted their price objective on U.S. Bancorp from $46.00 to $48.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. Finally, Morgan Stanley raised their target price on U.S. Bancorp from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $46.91.

U.S. Bancorp Company Profile

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.