U.S. Bancorp (NYSE:USB) Announces Quarterly Earnings Results

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

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $39.44 on Friday. The business’s 50-day simple moving average is $42.31 and its 200 day simple moving average is $39.72. The stock has a market cap of $61.45 billion, a price-to-earnings ratio of 13.06, a P/E/G ratio of 2.04 and a beta of 1.05. U.S. Bancorp has a 12-month low of $27.27 and a 12-month 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.

U.S. Bancorp Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts recently commented on USB shares. 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 research note on Thursday. UBS Group boosted their price target on U.S. Bancorp from $35.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, January 17th. TheStreet raised U.S. Bancorp from a “c+” rating to a “b-” rating in a research note on Tuesday, December 26th. StockNews.com cut U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, February 20th. Finally, Evercore ISI upped their target price on U.S. Bancorp from $46.00 to $48.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $46.91.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Terrance R. Dolan sold 26,583 shares of the stock in a transaction dated 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 transaction, the insider now owns 144,236 shares of the company’s stock, valued at $6,255,515.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other U.S. Bancorp news, insider Terrance R. Dolan sold 26,583 shares of the stock in a transaction dated 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 transaction, the insider now owns 144,236 shares of the company’s stock, valued at $6,255,515.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP James L. Chosy sold 21,582 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the transaction, the executive vice president now directly 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.

Hedge Funds Weigh In On U.S. Bancorp

Several hedge funds have recently added to or reduced their stakes in the stock. Compass Wealth Management LLC bought a new position in shares of U.S. Bancorp during the 4th quarter valued at about $39,000. Pacific Center for Financial Services bought a new position in shares of U.S. Bancorp during the 1st quarter valued at about $36,000. Cornerstone Planning Group LLC bought a new position in shares of U.S. Bancorp during the 2nd quarter valued at about $35,000. PCA Investment Advisory Services Inc. bought a new position in shares of U.S. Bancorp during the 2nd quarter valued at about $36,000. Finally, Covestor Ltd lifted its holdings in shares of U.S. Bancorp by 62.6% during the 1st quarter. Covestor Ltd now owns 1,424 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 548 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

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.