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

U.S. Bancorp (NYSE:USB) posted its quarterly earnings data 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. The company had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $6.71 billion. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.16 earnings per share.

U.S. Bancorp Stock Down 0.2 %

Shares of USB opened at $39.44 on Friday. The stock has a market capitalization of $61.45 billion, a PE ratio of 13.06, a P/E/G ratio of 2.04 and a beta of 1.05. U.S. Bancorp has a 1 year low of $27.27 and a 1 year high of $45.85. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82. The company’s 50-day simple moving average is $42.31 and its 200-day simple moving average is $39.72.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.96 annualized dividend and a dividend yield of 4.97%. U.S. Bancorp’s dividend payout ratio is presently 64.90%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on USB. TheStreet upgraded shares of U.S. Bancorp from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th. UBS Group increased their target price on shares of U.S. Bancorp from $35.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, January 17th. Evercore ISI increased their target price on shares of U.S. Bancorp from $46.00 to $48.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. StockNews.com cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, February 20th. Finally, Oppenheimer reduced their target price on shares of U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $46.91.

Insider Transactions at U.S. Bancorp

In related news, EVP James L. Chosy sold 21,582 shares of the firm’s stock in a transaction that occurred 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 filing with the SEC, which can be accessed through this hyperlink. In related news, EVP James L. Chosy sold 21,582 shares of the firm’s stock in a transaction that occurred 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 filing with the SEC, which can be accessed through this hyperlink. Also, insider Terrance R. Dolan sold 26,583 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were 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 directly owns 144,236 shares in the company, valued at approximately $6,255,515.32. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On U.S. Bancorp

A number of hedge funds have recently modified their holdings of the business. Vestcor Inc grew its position in shares of U.S. Bancorp by 0.7% during the fourth quarter. Vestcor Inc now owns 33,480 shares of the financial services provider’s stock worth $1,460,000 after acquiring an additional 230 shares during the last quarter. Acadian Asset Management LLC grew its position in U.S. Bancorp by 3.0% in the 1st quarter. Acadian Asset Management LLC now owns 9,397 shares of the financial services provider’s stock valued at $499,000 after buying an additional 276 shares during the last quarter. Gamco Investors INC. ET AL grew its position in U.S. Bancorp by 3.4% in the 1st quarter. Gamco Investors INC. ET AL now owns 8,520 shares of the financial services provider’s stock valued at $453,000 after buying an additional 280 shares during the last quarter. Silvercrest Asset Management Group LLC grew its position in U.S. Bancorp by 0.9% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 40,832 shares of the financial services provider’s stock valued at $1,781,000 after buying an additional 360 shares during the last quarter. Finally, Kinneret Advisory LLC grew its position in U.S. Bancorp by 2.3% in the 1st quarter. Kinneret Advisory LLC now owns 17,276 shares of the financial services provider’s stock valued at $926,000 after buying an additional 387 shares during the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

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.