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

U.S. Bancorp (NYSE:USB) posted 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. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The firm had revenue of $6.72 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same period in the previous year, the firm posted $1.16 EPS. The business’s quarterly revenue was down 6.4% on a year-over-year basis.

U.S. Bancorp Trading Up 2.6 %

Shares of U.S. Bancorp stock opened at $40.45 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.81 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. The firm has a market capitalization of $63.03 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 2.05 and a beta of 1.05. The firm’s 50 day simple moving average is $42.32 and its two-hundred day simple moving average is $39.78.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a dividend of $0.49 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.96 dividend on an annualized basis and a yield of 4.85%. U.S. Bancorp’s payout ratio is 64.90%.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Terrance R. Dolan sold 26,583 shares of the stock in a transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP James L. Chosy sold 21,582 shares of the stock in a transaction 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 sale, the executive vice president now owns 164,880 shares in the company, valued at $6,837,573.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Terrance R. Dolan sold 26,583 shares of the stock in a transaction 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 sale, 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. 0.23% of the stock is currently owned by company insiders.

Institutional Trading of U.S. Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. FIL Ltd boosted its holdings in U.S. Bancorp by 1,751.5% during the fourth quarter. FIL Ltd now owns 8,887 shares of the financial services provider’s stock worth $385,000 after buying an additional 8,407 shares in the last quarter. SageView Advisory Group LLC boosted its holdings in U.S. Bancorp by 29.9% during the fourth quarter. SageView Advisory Group LLC now owns 47,478 shares of the financial services provider’s stock worth $2,058,000 after buying an additional 10,938 shares in the last quarter. Sanibel Captiva Trust Company Inc. purchased a new stake in U.S. Bancorp during the fourth quarter worth $619,000. DRW Securities LLC purchased a new stake in U.S. Bancorp during the fourth quarter worth $1,147,000. Finally, Oarsman Capital Inc. purchased a new position in U.S. Bancorp during the fourth quarter valued at $305,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on USB shares. HSBC upgraded shares of 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 report on Thursday, March 28th. Morgan Stanley lifted their price target on shares of U.S. Bancorp from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 30th. Barclays dropped their price target on shares of U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating for the company in a research note on Thursday. Oppenheimer dropped their price target on shares of U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $45.00 price target (down from $52.00) on shares of U.S. Bancorp in a research note on Thursday. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $46.68.

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.