U.S. Bancorp (NYSE:USB) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

U.S. Bancorp (NYSE:USB) issued its quarterly earnings results on Wednesday. The financial services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01, Briefing.com reports. U.S. Bancorp had a net margin of 13.36% and a return on equity of 14.89%. 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 business 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 Stock Performance

NYSE USB opened at $39.52 on Thursday. U.S. Bancorp has a 52-week low of $27.27 and a 52-week high of $45.85. The company has a 50-day simple moving average of $42.33 and a 200 day simple moving average of $39.72. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.81 and a current ratio of 0.81. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued 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 yield of 4.96%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 59.76%.

Wall Street Analyst Weigh In

Several research firms recently commented on USB. Stephens cut shares of U.S. Bancorp from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, December 20th. UBS Group upped their price target on shares of U.S. Bancorp from $35.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, January 17th. Jefferies Financial Group upped their price target on shares of U.S. Bancorp from $44.00 to $46.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Barclays increased their price objective on shares of U.S. Bancorp from $48.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Finally, StockNews.com cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, U.S. Bancorp has an average rating of “Hold” and a consensus price target of $47.09.

Insider Buying and Selling

In related news, insider Terrance R. Dolan sold 26,583 shares of the firm’s stock in a transaction dated 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 in the company, valued at $6,255,515.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP James L. Chosy sold 21,582 shares of U.S. Bancorp stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the transaction, 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 U.S. Bancorp stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the completion of the transaction, 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 corporate insiders.

Hedge Funds Weigh In On U.S. Bancorp

Large investors have recently modified their holdings of the business. Cornerstone Planning Group LLC purchased a new position in shares of U.S. Bancorp in the second quarter worth about $35,000. PCA Investment Advisory Services Inc. purchased a new position in shares of U.S. Bancorp in the second quarter worth about $36,000. Pacific Center for Financial Services purchased a new position in U.S. Bancorp during the first quarter valued at approximately $36,000. Compass Wealth Management LLC purchased a new position in U.S. Bancorp during the fourth quarter valued at approximately $39,000. Finally, Jefferies Financial Group Inc. purchased a new position in U.S. Bancorp during the fourth quarter valued at approximately $58,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

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.