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

U.S. Bancorp (NYSE:USB) announced its quarterly earnings data on Wednesday. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the business posted $1.16 earnings per share. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis.

U.S. Bancorp Stock Performance

USB stock opened at $39.44 on Friday. The company has a market capitalization 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. The firm has a 50 day moving average of $42.31 and a two-hundred day moving average of $39.72. 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 has a 12 month low of $27.27 and a 12 month high of $45.85.

U.S. Bancorp Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on USB. 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 report on Monday, April 8th. Barclays reduced their target price on shares of U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday. DA Davidson reduced their price objective on U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating for the company in a research note on Thursday. Compass Point raised U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $46.00 to $49.00 in a research report on Friday, March 22nd. Finally, Piper Sandler reissued a “neutral” rating on shares of U.S. Bancorp in a research note on Friday, January 26th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $46.91.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, 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 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 $6,255,515.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Terrance R. Dolan sold 26,583 shares of the business’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 completion of the sale, the insider now directly owns 144,236 shares in the company, valued at approximately $6,255,515.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP James L. Chosy sold 21,582 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president now owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The disclosure for this sale can be found here. 0.23% of the stock is owned by company insiders.

Hedge Funds Weigh In On U.S. Bancorp

Institutional investors have recently made changes to their positions in the business. Moneta Group Investment Advisors LLC grew its holdings in 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 buying an additional 60,227,825 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of 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 worth $942,590,000 after acquiring an additional 1,302,935 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in 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 raised its stake in U.S. Bancorp by 0.3% during the 4th quarter. Royal Bank of Canada now owns 20,370,797 shares of the financial services provider’s stock valued at $881,648,000 after purchasing an additional 58,113 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in U.S. Bancorp by 1.7% in the 1st quarter. Northern Trust Corp now owns 17,793,541 shares of the financial services provider’s stock valued at $945,727,000 after purchasing an additional 303,443 shares during the period. 77.60% of the stock is currently owned by institutional investors.

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.