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

U.S. Bancorp (NYSE:USB) released its earnings results on Wednesday. The financial services provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01, Briefing.com reports. The company had revenue of $6.72 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.16 earnings per share.

U.S. Bancorp Stock Down 0.2 %

NYSE:USB opened at $39.44 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82. The company has a market cap of $61.45 billion, a PE ratio of 13.06, a PEG ratio of 2.04 and a beta of 1.05. U.S. Bancorp has a 52-week low of $27.27 and a 52-week high of $45.85. The stock has a 50-day simple moving average of $42.31 and a 200 day simple moving average of $39.72.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors 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 4.97%. U.S. Bancorp’s payout ratio is presently 64.90%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on USB. TheStreet upgraded U.S. Bancorp from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th. HSBC upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and boosted their target price for the stock from $47.00 to $53.00 in a research report on Thursday, March 28th. Morgan Stanley boosted their target price 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. Evercore ISI lifted their price objective on U.S. Bancorp from $46.00 to $48.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. Finally, StockNews.com cut U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, February 20th. One equities research 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. Based on data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Hold” and a consensus price target of $46.91.

Insider Buying and Selling

In related news, insider Terrance R. Dolan sold 26,583 shares of the 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 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 accessible through the SEC website. In other news, insider Terrance R. Dolan sold 26,583 shares of the firm’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 of the company’s stock, valued at $6,255,515.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP James L. Chosy sold 21,582 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now directly 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 corporate insiders.

Hedge Funds Weigh In On U.S. Bancorp

A number of large investors have recently made changes to their positions in USB. FIL Ltd increased its stake in U.S. Bancorp by 1,751.5% during the 4th quarter. FIL Ltd now owns 8,887 shares of the financial services provider’s stock worth $385,000 after acquiring an additional 8,407 shares during the period. SageView Advisory Group LLC increased its stake in U.S. Bancorp by 29.9% during the 4th quarter. SageView Advisory Group LLC now owns 47,478 shares of the financial services provider’s stock worth $2,058,000 after acquiring an additional 10,938 shares during the period. Sanibel Captiva Trust Company Inc. bought a new position in U.S. Bancorp during the 4th quarter worth $619,000. DRW Securities LLC bought a new position in shares of U.S. Bancorp in the 4th quarter valued at $1,147,000. Finally, Oarsman Capital Inc. bought a new position in shares of U.S. Bancorp in the 4th quarter valued at $305,000. Institutional investors 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.