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

U.S. Bancorp (NYSE:USB) declared a quarterly dividend on Thursday, September 12th, RTT News reports. Shareholders of record on Monday, September 30th will be paid a dividend of 0.50 per share by the financial services provider on Tuesday, October 15th. This represents a $2.00 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend is Monday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49.

U.S. Bancorp has raised its dividend by an average of 4.7% per year over the last three years and has raised its dividend annually for the last 13 consecutive years. U.S. Bancorp has a dividend payout ratio of 46.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect U.S. Bancorp to earn $4.22 per share next year, which means the company should continue to be able to cover its $1.96 annual dividend with an expected future payout ratio of 46.4%.

U.S. Bancorp Price Performance

Shares of USB opened at $43.85 on Friday. The stock has a market cap of $68.43 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 4.36 and a beta of 1.04. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. U.S. Bancorp has a 1-year low of $30.47 and a 1-year high of $47.31. The firm has a fifty day moving average price of $43.82 and a 200 day moving average price of $42.17.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter in the previous year, the business earned $1.12 earnings per share. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, sell-side analysts anticipate that U.S. Bancorp will post 3.87 EPS for the current year.

Insider Transactions at U.S. Bancorp

In other news, Director Aleem Gillani bought 10,000 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, July 18th. The shares were purchased at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $449,900. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on USB shares. StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. DA Davidson lifted their price objective on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Wells Fargo & Company boosted their price objective on shares of U.S. Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. The Goldman Sachs Group reduced their target price on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Jefferies Financial Group cut their price target on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $48.18.

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.