U.S. Bancorp Announces Quarterly Dividend of $0.52 (NYSE:USB)

U.S. Bancorp (NYSE:USB) announced a quarterly dividend on Tuesday, June 16th. Stockholders of record on Tuesday, June 30th will be given a dividend of 0.52 per share by the financial services provider on Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Tuesday, June 30th.

U.S. Bancorp has raised its dividend by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 14 years. U.S. Bancorp has a dividend payout ratio of 43.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect U.S. Bancorp to earn $5.61 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 37.1%.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $58.87 on Wednesday. The business has a 50 day moving average price of $55.46 and a 200 day moving average price of $54.71. U.S. Bancorp has a twelve month low of $42.55 and a twelve month high of $61.19. The company has a market cap of $91.32 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 1.04 and a beta of 0.97. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The firm had revenue of $7.32 billion during the quarter, compared to the consensus estimate of $7.27 billion. During the same quarter in the prior year, the company earned $1.03 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. Research analysts predict that U.S. Bancorp will post 5.07 earnings per share for the current year.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the transaction, the insider owned 207,251 shares of the company’s stock, valued at $11,813,307. This represents a 16.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the transaction, the executive vice president directly owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. The trade was a 40.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On U.S. Bancorp

A number of hedge funds have recently modified their holdings of USB. Financial Life Planners acquired a new position in shares of U.S. Bancorp in the 3rd quarter worth approximately $25,000. Clayton Financial Group LLC acquired a new position in U.S. Bancorp in the fourth quarter valued at about $25,000. Main Street Group LTD acquired a new position in U.S. Bancorp in the first quarter valued at about $28,000. JPL Wealth Management LLC acquired a new position in U.S. Bancorp in the third quarter valued at about $28,000. Finally, Binnacle Investments Inc boosted its position in U.S. Bancorp by 77.8% in the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock valued at $30,000 after buying an additional 273 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.