U.S. Bancorp (NYSE:USB) Announces Earnings Results, Beats Expectations By $0.01 EPS

U.S. Bancorp (NYSE:USB) issued its quarterly earnings data on Wednesday. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01, Briefing.com reports. The firm 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%. U.S. Bancorp’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.16 earnings per share.

U.S. Bancorp Stock Performance

NYSE:USB opened at $39.44 on Friday. U.S. Bancorp has a 12-month low of $27.27 and a 12-month high of $45.85. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $61.45 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 2.04 and a beta of 1.05. The firm has a 50-day moving average price of $42.31 and a 200 day moving average price of $39.72.

U.S. Bancorp Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday. HSBC upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and upped their price objective for the stock from $47.00 to $53.00 in a report on Thursday, March 28th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $45.00 price objective (down from $52.00) on shares of U.S. Bancorp in a report on Thursday. Piper Sandler restated a “neutral” rating on shares of U.S. Bancorp in a report on Friday, January 26th. Finally, StockNews.com cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $46.91.

Insider Buying and Selling

In other 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 transaction of $895,005.54. Following the completion of the sale, the executive vice president now owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 completion of 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 document filed with the SEC, which is accessible through the SEC website. 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 of the company’s stock, valued at approximately $6,255,515.32. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On U.S. Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Moneta Group Investment Advisors LLC boosted its stake in U.S. Bancorp by 130,768.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 60,273,882 shares of the financial services provider’s stock valued at $2,628,544,000 after acquiring an additional 60,227,825 shares during the last quarter. Geode Capital Management LLC boosted its stake in U.S. Bancorp by 5.2% in the first quarter. Geode Capital Management LLC now owns 26,209,943 shares of the financial services provider’s stock valued at $942,590,000 after acquiring an additional 1,302,935 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in U.S. Bancorp by 7.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 22,052,957 shares of the financial services provider’s stock valued at $1,172,115,000 after acquiring an additional 1,622,711 shares during the last quarter. Royal Bank of Canada boosted its stake in U.S. Bancorp by 0.3% in the fourth quarter. Royal Bank of Canada now owns 20,370,797 shares of the financial services provider’s stock valued at $881,648,000 after acquiring an additional 58,113 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in U.S. Bancorp by 1.7% in the first quarter. Northern Trust Corp now owns 17,793,541 shares of the financial services provider’s stock valued at $945,727,000 after acquiring an additional 303,443 shares during the last quarter. 77.60% of the stock is owned by 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.