U.S. Bancorp (NYSE:USB) released its quarterly earnings results on Wednesday. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.02, MarketWatch Earnings reports. U.S. Bancorp had a net margin of 26.96% and a return on equity of 14.66%. The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.68 billion. During the same period last year, the company earned $0.88 EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year.
USB opened at $52.90 on Thursday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.82 and a current ratio of 0.83. U.S. Bancorp has a 1 year low of $48.49 and a 1 year high of $58.50. The company has a market capitalization of $86.03 billion, a P/E ratio of 15.47, a P/E/G ratio of 1.73 and a beta of 0.98.
The business also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were given a $0.37 dividend. The ex-dividend date was Thursday, September 27th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.30. This represents a $1.48 annualized dividend and a dividend yield of 2.80%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 43.27%.
In related news, Vice Chairman John R. Elmore sold 58,924 shares of the firm’s stock in a transaction that occurred on Monday, July 23rd. The shares were sold at an average price of $51.71, for a total value of $3,046,960.04. Following the sale, the insider now directly owns 98,371 shares of the company’s stock, valued at $5,086,764.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.43% of the stock is currently owned by company insiders.
USB has been the topic of several analyst reports. Zacks Investment Research raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research note on Tuesday, September 18th. ValuEngine raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, August 22nd. Wedbush reaffirmed a “neutral” rating on shares of U.S. Bancorp in a research note on Monday, July 23rd. Finally, Macquarie raised shares of U.S. Bancorp from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $56.00 to $62.00 in a research note on Wednesday, October 10th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. U.S. Bancorp has a consensus rating of “Hold” and a consensus target price of $59.72.
About U.S. Bancorp
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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