U.S. Bancorp (NYSE:USB) Issues Quarterly Earnings Results, Beats Estimates By $0.07 EPS

U.S. Bancorp (NYSE:USB) issued its quarterly earnings data on Thursday. The financial services provider reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.07, Zacks reports. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%.

U.S. Bancorp Price Performance

NYSE USB opened at $63.04 on Thursday. U.S. Bancorp has a 1 year low of $43.46 and a 1 year high of $63.39. The company has a fifty day simple moving average of $57.56 and a 200 day simple moving average of $55.96. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. The company has a market cap of $97.78 billion, a P/E ratio of 13.22, a P/E/G ratio of 1.07 and a beta of 0.96.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio is currently 43.61%.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 40,000 shares of the business’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the transaction, the insider owned 207,251 shares of the company’s stock, valued at $11,813,307. The trade was a 16.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Venkatachari Dilip sold 34,522 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the transaction, the executive vice president directly owned 51,292 shares of the company’s stock, valued at $2,847,731.84. This represents a 40.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On U.S. Bancorp

Hedge funds have recently modified their holdings of the business. Brighton Jones LLC increased its holdings in shares of U.S. Bancorp by 323.0% during the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock worth $2,309,000 after purchasing an additional 36,863 shares during the period. Empowered Funds LLC lifted its stake in shares of U.S. Bancorp by 2.1% in the first quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock valued at $1,453,000 after buying an additional 714 shares during the period. Intech Investment Management LLC lifted its stake in shares of U.S. Bancorp by 18.9% in the first quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider’s stock valued at $1,658,000 after buying an additional 6,252 shares during the period. Sivia Capital Partners LLC acquired a new stake in U.S. Bancorp during the second quarter worth about $425,000. Finally, Nebula Research & Development LLC acquired a new stake in U.S. Bancorp during the second quarter worth about $701,000. 77.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

USB has been the topic of several analyst reports. Jefferies Financial Group upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and increased their price target for the stock from $60.00 to $75.00 in a research note on Monday, July 6th. Morgan Stanley upped their price objective on shares of U.S. Bancorp from $64.00 to $67.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Wells Fargo & Company increased their target price on shares of U.S. Bancorp from $62.00 to $66.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Stephens initiated coverage on U.S. Bancorp in a report on Monday, June 15th. They set an “equal weight” rating and a $63.00 target price on the stock. Finally, Wall Street Zen raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $64.31.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.