U.S. Bancorp (NYSE:USB) Issues Earnings Results

U.S. Bancorp (NYSE:USB) released its earnings results on Wednesday. The financial services provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01, Briefing.com reports. The company had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.71 billion. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The firm’s revenue was down 6.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.16 EPS.

U.S. Bancorp Price Performance

Shares of USB stock opened at $39.44 on Friday. U.S. Bancorp has a fifty-two week low of $27.27 and a fifty-two week high of $45.85. The firm has a market capitalization of $61.45 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 2.04 and a beta of 1.05. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82. The stock’s 50-day simple moving average is $42.31 and its 200-day simple moving average is $39.72.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a dividend of $0.49 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.97%. U.S. Bancorp’s payout ratio is 64.90%.

Insider Transactions at U.S. Bancorp

In other news, EVP James L. Chosy sold 21,582 shares of the business’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 sale, the executive vice president now owns 164,880 shares in the company, valued at $6,837,573.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Terrance R. Dolan sold 26,583 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 144,236 shares in the company, valued at $6,255,515.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP James L. Chosy sold 21,582 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the sale, the executive vice president now owns 164,880 shares in the company, valued at approximately $6,837,573.60. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On U.S. Bancorp

Hedge funds have recently bought and sold shares of the stock. Compass Wealth Management LLC purchased a new stake in U.S. Bancorp in the 4th quarter worth approximately $39,000. Pacific Center for Financial Services purchased a new stake in U.S. Bancorp in the 1st quarter worth approximately $36,000. Cornerstone Planning Group LLC purchased a new stake in U.S. Bancorp in the 2nd quarter worth approximately $35,000. PCA Investment Advisory Services Inc. purchased a new stake in U.S. Bancorp in the 2nd quarter worth approximately $36,000. Finally, Covestor Ltd boosted its position in U.S. Bancorp by 62.6% in the 1st quarter. Covestor Ltd now owns 1,424 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 548 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Compass Point raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their target price for the company from $46.00 to $49.00 in a report on Friday, March 22nd. Jefferies Financial Group lifted their price objective on shares of U.S. Bancorp from $44.00 to $46.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Royal Bank of Canada lifted their price objective on shares of U.S. Bancorp from $43.00 to $47.00 and gave the stock an “outperform” rating in a research note on Thursday, January 18th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $45.00 target price (down from $52.00) on shares of U.S. Bancorp in a research note on Thursday. Finally, Piper Sandler reissued a “neutral” rating on shares of U.S. Bancorp in a research note on Friday, January 26th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $46.91.

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.