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

U.S. Bancorp (NYSE:USB) posted its quarterly earnings data on Wednesday. The financial services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.01, Briefing.com reports. The firm 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 13.36% and a return on equity of 14.89%. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.16 EPS.

U.S. Bancorp Stock Down 3.6 %

U.S. Bancorp stock opened at $39.52 on Thursday. The firm has a market cap of $61.58 billion, a price-to-earnings ratio of 12.05, a P/E/G ratio of 2.12 and a beta of 1.05. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.81. 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 fifty day moving average price of $42.33 and a two-hundred day moving average price of $39.72.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date was Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio is 59.76%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on USB. Stephens lowered shares of U.S. Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, December 20th. StockNews.com lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, February 20th. UBS Group lifted their target price on shares of U.S. Bancorp from $35.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, January 17th. Keefe, Bruyette & Woods lowered shares of U.S. Bancorp from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $52.00 to $45.00 in a research note on Thursday. Finally, Jefferies Financial Group lifted their target price on shares of U.S. Bancorp from $44.00 to $46.00 and gave the company a “hold” rating in a research note on Monday, April 8th. One investment 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. According to data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Hold” and an average target price of $47.09.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Terrance R. Dolan sold 26,583 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were 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 owns 144,236 shares of the company’s stock, valued at approximately $6,255,515.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP James L. Chosy sold 21,582 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $41.47, for a total transaction of $895,005.54. Following the transaction, the executive vice president now owns 164,880 shares in the company, valued at approximately $6,837,573.60. The transaction was disclosed in a legal filing 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 dated 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 transaction, the insider now owns 144,236 shares in the company, valued at approximately $6,255,515.32. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Moneta Group Investment Advisors LLC increased its stake in U.S. Bancorp by 130,768.0% in the fourth 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 period. Geode Capital Management LLC increased its stake in U.S. Bancorp by 5.2% in the first quarter. Geode Capital Management LLC now owns 26,209,943 shares of the financial services provider’s stock valued at $942,590,000 after acquiring an additional 1,302,935 shares during the period. Charles Schwab Investment Management Inc. increased its stake in U.S. Bancorp by 7.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 22,052,957 shares of the financial services provider’s stock valued at $1,172,115,000 after acquiring an additional 1,622,711 shares during the period. Royal Bank of Canada increased its stake in U.S. Bancorp by 0.3% in the fourth quarter. Royal Bank of Canada now owns 20,370,797 shares of the financial services provider’s stock valued at $881,648,000 after acquiring an additional 58,113 shares during the period. Finally, Northern Trust Corp increased its stake in U.S. Bancorp by 1.7% in the first quarter. Northern Trust Corp now owns 17,793,541 shares of the financial services provider’s stock valued at $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.