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

U.S. Bancorp (NYSE:USB) posted its earnings results 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 firm had revenue of $6.72 billion for the quarter, compared to the consensus estimate of $6.71 billion. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.16 EPS.

U.S. Bancorp Price Performance

NYSE USB opened at $39.44 on Friday. The business’s fifty day moving average price is $42.31 and its 200-day moving average price is $39.72. The stock has a market capitalization of $61.45 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 2.04 and a beta of 1.05. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81. U.S. Bancorp has a 1-year low of $27.27 and a 1-year high of $45.85.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued 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 payout ratio is 64.90%.

Wall Street Analyst Weigh In

USB has been the topic of several recent research reports. Evercore ISI upped their price target on U.S. Bancorp from $46.00 to $48.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $45.00 price target (down previously from $52.00) on shares of U.S. Bancorp in a research note on Thursday. HSBC upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and upped their price target for the stock from $47.00 to $53.00 in a research note on Thursday, March 28th. Compass Point upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the stock from $46.00 to $49.00 in a research note on Friday, March 22nd. Finally, Morgan Stanley upped their price target on U.S. Bancorp from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, U.S. Bancorp has a consensus rating of “Hold” and an average price target of $46.91.

Insider Activity

In other news, EVP James L. Chosy sold 21,582 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the sale, the executive vice president now directly owns 164,880 shares in the company, valued at approximately $6,837,573.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP James L. Chosy sold 21,582 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the sale, the executive vice president now directly owns 164,880 shares in the company, valued at approximately $6,837,573.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Terrance R. Dolan sold 26,583 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total value of $1,152,904.71. Following the completion of the sale, the insider now owns 144,236 shares of the company’s stock, valued at $6,255,515.32. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On U.S. Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of USB. Moneta Group Investment Advisors LLC increased its stake in U.S. Bancorp by 130,768.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 60,273,882 shares of the financial services provider’s stock worth $2,628,544,000 after buying an additional 60,227,825 shares in the last quarter. Geode Capital Management LLC increased its stake 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 buying an additional 1,302,935 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in U.S. Bancorp by 7.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 22,052,957 shares of the financial services provider’s stock worth $1,172,115,000 after buying an additional 1,622,711 shares in the last quarter. Royal Bank of Canada increased its stake in U.S. Bancorp by 0.3% in the 4th quarter. Royal Bank of Canada now owns 20,370,797 shares of the financial services provider’s stock worth $881,648,000 after buying an additional 58,113 shares in the last quarter. Finally, Northern Trust Corp increased its stake in U.S. Bancorp by 1.7% in the 1st quarter. Northern Trust Corp now owns 17,793,541 shares of the financial services provider’s stock worth $945,727,000 after buying an additional 303,443 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

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.