U.S. Bancorp (NYSE:USB) to Issue Quarterly Dividend of $0.54

U.S. Bancorp (NYSE:USB) declared a quarterly dividend on Tuesday, September 8th. Shareholders of record on Wednesday, September 30th will be paid a dividend of 0.54 per share by the financial services provider on Thursday, October 15th. This represents a c) annualized dividend and a yield of 3.5%. The ex-dividend date is Wednesday, September 30th. This is a 3.8% increase from U.S. Bancorp’s previous quarterly dividend of $0.52.

U.S. Bancorp has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 14 consecutive years. U.S. Bancorp has a payout ratio of 43.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect U.S. Bancorp to earn $5.76 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 36.1%.

U.S. Bancorp Stock Down 1.3%

U.S. Bancorp stock opened at $62.52 on Wednesday. The firm has a market capitalization of $97.41 billion, a P/E ratio of 12.48, a P/E/G ratio of 1.13 and a beta of 0.95. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96. U.S. Bancorp has a twelve month low of $45.02 and a twelve month high of $66.07. The stock’s fifty day simple moving average is $63.16 and its 200-day simple moving average is $57.93.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.The firm had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.58 billion. During the same period in the previous year, the firm posted $1.11 EPS. As a group, equities analysts expect that U.S. Bancorp will post 5.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Raymond James Financial initiated coverage on shares of U.S. Bancorp in a report on Wednesday, July 8th. They set a “strong-buy” rating and a $72.00 price target for the company. Oppenheimer lifted their price objective on shares of U.S. Bancorp from $73.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. UBS Group boosted their target price on shares of U.S. Bancorp from $58.00 to $66.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 7th. Robert W. Baird increased their target price on U.S. Bancorp from $64.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, July 17th. Finally, JPMorgan Chase & Co. raised their price target on U.S. Bancorp from $67.50 to $69.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $67.06.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE:USB) is a financial services holding company and the parent organization of U.S. Bank, a full-service commercial bank. The company provides deposit accounts, consumer and business loans, mortgages, credit and debit cards, payment services, and other banking products to individuals, businesses, institutions and government entities.

Through its wealth, corporate and commercial banking operations, U.S. Bancorp also offers investment management, trust and custody services, treasury management, capital markets support, equipment finance and other specialized financial solutions.