U.S. Bancorp (NYSE:USB) Posts Earnings Results, Beats Expectations By $0.01 EPS

U.S. Bancorp (NYSE:USB) issued its quarterly 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. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The firm had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same period in the previous year, the firm posted $1.16 EPS. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year.

U.S. Bancorp Price Performance

USB stock traded up $0.55 during trading on Friday, reaching $39.99. The company’s stock had a trading volume of 3,676,083 shares, compared to its average volume of 8,725,520. U.S. Bancorp has a 1 year low of $27.27 and a 1 year high of $45.85. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $62.31 billion, a P/E ratio of 13.21, a price-to-earnings-growth ratio of 2.04 and a beta of 1.05. The company’s fifty day moving average is $42.31 and its 200-day moving average is $39.72.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a $0.49 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.96 dividend on an annualized basis and a yield of 4.90%. U.S. Bancorp’s payout ratio is presently 64.90%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on USB shares. Piper Sandler reissued a “neutral” rating on shares of U.S. Bancorp in a research report on Friday, January 26th. Morgan Stanley boosted their price target on U.S. Bancorp from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Barclays dropped their price target on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating on the stock in a research report on Thursday. Jefferies Financial Group upped their price objective on U.S. Bancorp from $44.00 to $46.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $45.00 price objective (down from $52.00) on shares of U.S. Bancorp in a research report on Thursday. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $46.68.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of the stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of the stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Terrance R. Dolan sold 26,583 shares of the stock in a transaction 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 completion of the sale, the insider now owns 144,236 shares of the company’s stock, valued at approximately $6,255,515.32. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in USB. Moneta Group Investment Advisors LLC lifted its holdings in shares of U.S. Bancorp by 130,768.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 60,273,882 shares of the financial services provider’s stock valued at $2,628,544,000 after acquiring an additional 60,227,825 shares during the last quarter. Geode Capital Management LLC increased its position in shares of U.S. Bancorp by 5.2% during the first quarter. Geode Capital Management LLC now owns 26,209,943 shares of the financial services provider’s stock worth $942,590,000 after acquiring an additional 1,302,935 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of U.S. Bancorp by 7.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 22,052,957 shares of the financial services provider’s stock worth $1,172,115,000 after acquiring an additional 1,622,711 shares during the period. Royal Bank of Canada increased its position in shares of U.S. Bancorp by 0.3% during the fourth quarter. Royal Bank of Canada now owns 20,370,797 shares of the financial services provider’s stock worth $881,648,000 after acquiring an additional 58,113 shares during the period. Finally, Northern Trust Corp increased its position in shares of U.S. Bancorp by 1.7% during the first quarter. Northern Trust Corp now owns 17,793,541 shares of the financial services provider’s stock worth $945,727,000 after acquiring an additional 303,443 shares during the period. Institutional investors own 77.60% of the company’s stock.

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.