U.S. Bancorp (NYSE:USB) Announces $0.50 Quarterly Dividend

U.S. Bancorp (NYSE:USB) announced a quarterly dividend on Tuesday, March 11th, RTT News reports. Shareholders of record on Monday, March 31st will be given a dividend of 0.50 per share by the financial services provider on Tuesday, April 15th. This represents a $2.00 annualized dividend and a yield of 4.80%.

U.S. Bancorp has increased its dividend payment by an average of 4.0% annually over the last three years and has raised its dividend annually for the last 14 consecutive years. U.S. Bancorp has a payout ratio of 41.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect U.S. Bancorp to earn $4.82 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 41.5%.

U.S. Bancorp Price Performance

Shares of USB opened at $41.70 on Thursday. The company has a market capitalization of $64.96 billion, a price-to-earnings ratio of 11.00, a P/E/G ratio of 1.73 and a beta of 1.02. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The business’s 50-day moving average is $47.17 and its 200-day moving average is $47.84.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The company had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 EPS. Equities research analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Morgan Stanley dropped their target price on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Citigroup upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $49.00 to $65.00 in a report on Monday, November 25th. Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective on the stock in a report on Monday, January 13th. Wells Fargo & Company increased their price objective on U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Raymond James upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a report on Thursday, December 19th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.21.

Insider Buying and Selling

In other U.S. Bancorp news, insider Terrance R. Dolan sold 66,317 shares of U.S. Bancorp stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the sale, the insider now owns 209,482 shares in the company, valued at $9,837,274.72. The trade was a 24.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Cecere sold 102,044 shares of U.S. Bancorp stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the sale, the chief executive officer now owns 1,230,316 shares in the company, valued at $58,132,431. This represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 219,812 shares of company stock valued at $10,385,665 over the last ninety days. 0.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in U.S. Bancorp stock. Brighton Jones LLC raised its stake in shares of U.S. Bancorp (NYSE:USB) by 323.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 48,274 shares of the financial services provider’s stock after acquiring an additional 36,863 shares during the quarter. Brighton Jones LLC’s holdings in U.S. Bancorp were worth $2,309,000 as of its most recent filing with the SEC. 77.60% of the stock is currently owned by institutional investors and hedge funds.

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.