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

U.S. Bancorp (NYSE:USB) announced its earnings results on Wednesday. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01, Briefing.com reports. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The company had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same period in the prior year, the company posted $1.16 EPS. U.S. Bancorp’s quarterly revenue was down 6.4% on a year-over-year basis.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock traded up $0.60 during trading on Friday, hitting $40.04. The stock had a trading volume of 4,176,832 shares, compared to its average volume of 8,730,382. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81. The firm has a market cap of $62.39 billion, a P/E ratio of 13.21, a PEG ratio of 2.04 and a beta of 1.05. The business has a fifty day moving average of $42.31 and a two-hundred day moving average of $39.72. U.S. Bancorp has a fifty-two week low of $27.27 and a fifty-two week high of $45.85.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a $0.49 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.96 annualized dividend and a dividend yield of 4.90%. U.S. Bancorp’s dividend payout ratio (DPR) is 64.90%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. HSBC raised U.S. Bancorp from a “hold” rating to a “buy” rating and upped their target price for the company from $47.00 to $53.00 in a research report on Thursday, March 28th. Morgan Stanley boosted their price target on U.S. Bancorp from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. Oppenheimer lowered their price target on U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating for the company in a report on Thursday. Royal Bank of Canada boosted their price target on U.S. Bancorp from $43.00 to $47.00 and gave the company an “outperform” rating in a report on Thursday, January 18th. Finally, UBS Group lowered their price target on U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, U.S. Bancorp has an average rating of “Hold” and a consensus price target of $46.68.

Insider Activity

In other news, insider Terrance R. Dolan sold 26,583 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the completion of the sale, the insider now directly owns 144,236 shares of the company’s stock, valued at $6,255,515.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Terrance R. Dolan sold 26,583 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the completion of the sale, the insider now directly owns 144,236 shares of the company’s stock, valued at $6,255,515.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP James L. Chosy sold 21,582 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the sale, the executive vice president now directly owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On U.S. Bancorp

Several hedge funds have recently bought and sold shares of USB. Vestcor Inc increased its holdings in U.S. Bancorp by 0.7% during the 4th quarter. Vestcor Inc now owns 33,480 shares of the financial services provider’s stock valued at $1,460,000 after purchasing an additional 230 shares in the last quarter. Acadian Asset Management LLC increased its holdings in U.S. Bancorp by 3.0% during 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. Gamco Investors INC. ET AL increased its holdings in U.S. Bancorp by 3.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 8,520 shares of the financial services provider’s stock valued at $453,000 after purchasing an additional 280 shares in the last quarter. Silvercrest Asset Management Group LLC increased its holdings in U.S. Bancorp by 0.9% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 40,832 shares of the financial services provider’s stock valued at $1,781,000 after purchasing an additional 360 shares in the last quarter. Finally, Kinneret Advisory LLC increased its holdings in U.S. Bancorp by 2.3% during the 1st quarter. Kinneret Advisory LLC now owns 17,276 shares of the financial services provider’s stock valued at $926,000 after purchasing an additional 387 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Company Profile

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.