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

U.S. Bancorp (NYSE:USB) released its earnings results on Wednesday. The financial services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 14.89% and a net margin of 13.36%. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.16 EPS.

U.S. Bancorp Stock Down 1.0 %

Shares of USB stock opened at $39.11 on Thursday. U.S. Bancorp has a 12 month low of $27.27 and a 12 month high of $45.85. The firm has a market cap of $60.94 billion, a PE ratio of 12.05, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05. The stock has a 50 day moving average of $42.33 and a 200-day moving average of $39.72. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.05.

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 issued 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 5.01%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 59.76%.

Analyst Upgrades and Downgrades

USB has been the subject of several research reports. TheStreet upgraded U.S. Bancorp from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. Barclays lifted their price target on U.S. Bancorp from $48.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. StockNews.com lowered U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, February 20th. HSBC upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and lifted their price target for the company from $47.00 to $53.00 in a report on Thursday, March 28th. Finally, Piper Sandler reiterated a “neutral” rating on shares of U.S. Bancorp in a report on Friday, January 26th. One investment 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. According to MarketBeat, U.S. Bancorp currently has an average rating of “Hold” and a consensus target price of $47.09.

Insider Transactions at U.S. Bancorp

In other 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 transaction of $1,152,904.71. Following the completion of the transaction, the insider now directly owns 144,236 shares in the company, valued at $6,255,515.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP James L. Chosy sold 21,582 shares of the business’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 transaction of $895,005.54. Following the sale, the executive vice president now directly owns 164,880 shares in the company, valued at $6,837,573.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Terrance R. Dolan sold 26,583 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The shares were 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 disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

Institutional Trading of U.S. Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of USB. BCK Partners Inc. bought a new stake in shares of U.S. Bancorp during the first quarter valued at approximately $2,514,000. Acadian Asset Management LLC grew its position in U.S. Bancorp by 3.0% in the first quarter. Acadian Asset Management LLC now owns 9,397 shares of the financial services provider’s stock valued at $499,000 after acquiring an additional 276 shares during the period. Vontobel Holding Ltd. grew its position in U.S. Bancorp by 20.8% in the first quarter. Vontobel Holding Ltd. now owns 21,314 shares of the financial services provider’s stock valued at $1,176,000 after acquiring an additional 3,663 shares during the period. Prudential PLC bought a new stake in U.S. Bancorp in the first quarter valued at $1,731,000. Finally, Candriam Luxembourg S.C.A. grew its position in U.S. Bancorp by 5.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 86,048 shares of the financial services provider’s stock valued at $4,573,000 after acquiring an additional 4,827 shares during the period. 77.60% of the stock is currently owned by institutional investors.

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.