U.S. Bancorp (NYSE:USB) posted its quarterly earnings data on Wednesday. The financial services provider reported $1.00 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.00, MarketWatch Earnings reports. The firm had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.62 billion. U.S. Bancorp had a return on equity of 15.64% and a net margin of 27.53%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.96 EPS.
Shares of USB stock opened at $50.28 on Wednesday. The firm has a market capitalization of $79.84 billion, a P/E ratio of 12.26, a PEG ratio of 1.65 and a beta of 1.06. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.91. U.S. Bancorp has a 1 year low of $43.14 and a 1 year high of $55.56.
The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a $0.37 dividend. The ex-dividend date was Thursday, March 28th. This represents a $1.48 dividend on an annualized basis and a yield of 2.94%. U.S. Bancorp’s dividend payout ratio (DPR) is 36.10%.
A number of analysts have recently weighed in on the company. Zacks Investment Research cut U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, April 9th. Barclays raised their price objective on U.S. Bancorp from $61.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 2nd. Oppenheimer raised their price objective on U.S. Bancorp from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Robert W. Baird cut U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $51.00 price objective for the company. in a research report on Monday, January 28th. Finally, Jefferies Financial Group lowered U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, January 8th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. U.S. Bancorp has a consensus rating of “Hold” and a consensus target price of $58.08.
In related news, Vice Chairman Leslie V. Godridge sold 14,737 shares of the firm’s stock in a transaction on Monday, February 4th. The stock was sold at an average price of $51.50, for a total value of $758,955.50. Following the completion of the transaction, the insider now owns 61,737 shares in the company, valued at approximately $3,179,455.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.24% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cetera Advisors LLC raised its stake in shares of U.S. Bancorp by 25.1% during the 4th quarter. Cetera Advisors LLC now owns 27,885 shares of the financial services provider’s stock valued at $1,277,000 after buying an additional 5,596 shares during the last quarter. Legal & General Group Plc raised its stake in shares of U.S. Bancorp by 5.7% during the 4th quarter. Legal & General Group Plc now owns 7,419,203 shares of the financial services provider’s stock valued at $339,026,000 after buying an additional 399,480 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of U.S. Bancorp during the 4th quarter valued at about $5,148,000. Legacy Financial Advisors Inc. raised its stake in shares of U.S. Bancorp by 0.5% during the 4th quarter. Legacy Financial Advisors Inc. now owns 49,316 shares of the financial services provider’s stock valued at $2,254,000 after buying an additional 243 shares during the last quarter. Finally, Cetera Advisor Networks LLC raised its stake in shares of U.S. Bancorp by 3.0% during the 4th quarter. Cetera Advisor Networks LLC now owns 39,563 shares of the financial services provider’s stock valued at $1,811,000 after buying an additional 1,151 shares during the last quarter. Institutional investors and hedge funds own 75.82% of the company’s stock.
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About U.S. Bancorp
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in 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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