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

U.S. Bancorp (NYSE:USB) released its quarterly earnings results on Wednesday. The financial services provider reported $0.90 EPS for the quarter, topping 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 business had revenue of $6.72 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same period last year, the business posted $1.16 earnings per share. The company’s quarterly revenue was down 6.4% on a year-over-year basis.

U.S. Bancorp Stock Performance

NYSE USB opened at $39.52 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. U.S. Bancorp has a 52-week low of $27.27 and a 52-week high of $45.85. The business’s 50-day moving average price is $42.33 and its 200 day moving average price is $39.72. The firm has a market cap of $61.58 billion, a P/E ratio of 12.05, a P/E/G ratio of 2.12 and a beta of 1.05.

U.S. Bancorp Dividend Announcement

The business also recently declared 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. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date was Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio is currently 59.76%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. TheStreet upgraded U.S. Bancorp from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. Royal Bank of Canada lifted 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. UBS Group lifted their target price on U.S. Bancorp from $35.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, January 17th. Morgan Stanley raised their price target on U.S. Bancorp from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. Finally, HSBC upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and raised their price target for the company from $47.00 to $53.00 in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $47.09.

Insider Buying and Selling

In related news, EVP James L. Chosy sold 21,582 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction of $895,005.54. Following the transaction, the executive vice president now owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP James L. Chosy sold 21,582 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction of $895,005.54. Following the transaction, the executive vice president now owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Terrance R. Dolan sold 26,583 shares of the firm’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 transaction, the insider now directly owns 144,236 shares in the company, 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 Investors Weigh In On U.S. Bancorp

A number of institutional investors have recently added to or reduced their stakes in USB. BCK Partners Inc. purchased a new stake in U.S. Bancorp in the 1st quarter valued at approximately $2,514,000. Acadian Asset Management LLC boosted its holdings in U.S. Bancorp by 3.0% in the 1st quarter. Acadian Asset Management LLC now owns 9,397 shares of the financial services provider’s stock valued at $499,000 after purchasing an additional 276 shares in the last quarter. Vontobel Holding Ltd. boosted its holdings in U.S. Bancorp by 20.8% in the 1st quarter. Vontobel Holding Ltd. now owns 21,314 shares of the financial services provider’s stock valued at $1,176,000 after purchasing an additional 3,663 shares in the last quarter. Prudential PLC purchased a new stake in U.S. Bancorp in the 1st quarter valued at approximately $1,731,000. Finally, Candriam Luxembourg S.C.A. boosted its holdings in U.S. Bancorp by 5.9% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 86,048 shares of the financial services provider’s stock valued at $4,573,000 after purchasing an additional 4,827 shares in the last quarter. 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.