U.S. Bancorp (NYSE:USB) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

U.S. Bancorp (NYSE:USB) announced its quarterly earnings data on Wednesday. The financial services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.01, Briefing.com reports. The company had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $6.71 billion. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. U.S. Bancorp’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.16 EPS.

U.S. Bancorp Stock Performance

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. U.S. Bancorp has a fifty-two week low of $27.27 and a fifty-two week high of $45.85. The stock 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. The firm’s fifty day moving average price is $42.31 and its two-hundred day moving average price is $39.72.

U.S. Bancorp Announces Dividend

The business also recently announced 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 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%.

Analyst Upgrades and Downgrades

USB has been the subject of several analyst reports. TheStreet upgraded U.S. Bancorp from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. Royal Bank of Canada lifted their price target on U.S. Bancorp from $43.00 to $47.00 and gave the stock an “outperform” rating in a report on Thursday, January 18th. Wells Fargo & Company reduced their price target on U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday. Evercore ISI lifted their price target on U.S. Bancorp from $46.00 to $48.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. Finally, Piper Sandler reiterated a “neutral” rating on shares of U.S. Bancorp in a report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $46.91.

Insider Buying and Selling

In related news, EVP James L. Chosy sold 21,582 shares of the business’s 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 of the company’s stock, valued at $6,837,573.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Terrance R. Dolan sold 26,583 shares of the business’s 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 transaction, 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 SEC, which is available through this link. Also, EVP James L. Chosy sold 21,582 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $41.47, for a total transaction of $895,005.54. Following the completion of the transaction, the executive vice president now owns 164,880 shares in the company, valued at approximately $6,837,573.60. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On U.S. Bancorp

Several institutional investors have recently made changes to their positions in the stock. Moneta Group Investment Advisors LLC raised its holdings in shares of U.S. Bancorp by 130,768.0% during the fourth 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 purchasing an additional 60,227,825 shares during the period. Geode Capital Management LLC grew its position in U.S. Bancorp by 5.2% in the 1st quarter. Geode Capital Management LLC now owns 26,209,943 shares of the financial services provider’s stock worth $942,590,000 after purchasing an additional 1,302,935 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of U.S. Bancorp by 7.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 22,052,957 shares of the financial services provider’s stock valued at $1,172,115,000 after acquiring an additional 1,622,711 shares during the period. Royal Bank of Canada grew its position in shares of 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 acquiring an additional 58,113 shares during the period. Finally, Northern Trust Corp grew its position in shares of U.S. Bancorp by 1.7% during 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 acquiring an additional 303,443 shares during the period. Institutional investors and hedge funds 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.