U.S. Bancorp (NYSE:USB) declared a quarterly dividend on Wednesday, March 20th, Wall Street Journal reports. Shareholders of record on Friday, March 29th will be paid a dividend of 0.37 per share by the financial services provider on Monday, April 15th. This represents a $1.48 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Thursday, March 28th.
U.S. Bancorp has raised its dividend payment by an average of 8.3% annually over the last three years and has increased its dividend every year for the last 8 years. U.S. Bancorp has a dividend payout ratio of 36.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect U.S. Bancorp to earn $4.66 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 31.8%.
Shares of U.S. Bancorp stock opened at $50.37 on Thursday. The company has a current ratio of 0.85, a quick 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 stock has a market cap of $83.10 billion, a price-to-earnings ratio of 12.29, a price-to-earnings-growth ratio of 1.71 and a beta of 1.08.
U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.01. U.S. Bancorp had a net margin of 27.53% and a return on equity of 15.64%. The company had revenue of $5.83 billion for the quarter, compared to analysts’ expectations of $5.73 billion. During the same period in the prior year, the business earned $0.88 EPS. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. As a group, equities research analysts forecast that U.S. Bancorp will post 4.34 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on USB shares. Zacks Investment Research restated a “hold” rating on shares of U.S. Bancorp in a report on Monday, December 31st. Barclays raised their price target on shares of U.S. Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, January 2nd. Robert W. Baird cut shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $51.00 price target on the stock. in a report on Monday, January 28th. Jefferies Financial Group cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, January 8th. Finally, Standpoint Research cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating and raised their price target for the company from $54.16 to $63.00 in a report on Monday, November 26th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $58.00.
In other news, Vice Chairman Leslie V. Godridge sold 14,737 shares of the firm’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $51.50, for a total value of $758,955.50. Following the sale, the insider now directly owns 61,737 shares in the company, valued at approximately $3,179,455.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is currently owned by company insiders.
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U.S. Bancorp Company Profile
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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