U.S. Bancorp (NYSE:USB) Posts Earnings Results, Beats Expectations By $0.04 EPS

U.S. Bancorp (NYSE:USB) posted its quarterly earnings results on Wednesday. The financial services provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.94 by $0.04, Briefing.com reports. The firm had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.12 earnings per share.

U.S. Bancorp Stock Up 0.2 %

USB stock traded up $0.07 during midday trading on Friday, reaching $44.48. 3,399,768 shares of the company were exchanged, compared to its average volume of 8,512,478. The stock’s 50-day simple moving average is $40.33 and its 200 day simple moving average is $41.47. U.S. Bancorp has a 1-year low of $30.47 and a 1-year high of $45.85. 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 cap of $69.41 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 4.39 and a beta of 1.04.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a $0.49 dividend. The ex-dividend date was Friday, June 28th. This represents a $1.96 annualized dividend and a yield of 4.41%. U.S. Bancorp’s dividend payout ratio is currently 64.90%.

Insider Activity at U.S. Bancorp

In other news, Director Aleem Gillani acquired 10,000 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were bought at an average price of $44.99 per share, with a total value of $449,900.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at approximately $449,900. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on USB shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $45.00 target price (down from $52.00) on shares of U.S. Bancorp in a research note on Thursday, April 18th. Compass Point upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $46.00 to $49.00 in a research report on Friday, March 22nd. Morgan Stanley reiterated an “equal weight” rating and issued a $45.00 target price on shares of U.S. Bancorp in a report on Friday, June 21st. HSBC upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and raised their price target for the stock from $47.00 to $53.00 in a report on Thursday, March 28th. Finally, Jefferies Financial Group decreased their price objective on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Sixteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $47.20.

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.