U.S. Bancorp (NYSE:USB) declared a quarterly dividend on Wednesday, March 20th, Wall Street Journal reports. Shareholders of record on Friday, March 29th will be given a dividend of 0.37 per share by the financial services provider on Monday, April 15th. This represents a $1.48 annualized dividend and a yield of 2.94%. The ex-dividend date is Thursday, March 28th.

U.S. Bancorp has increased its dividend by an average of 8.3% annually over the last three years and has increased its dividend annually for the last 8 consecutive years. U.S. Bancorp has a payout ratio of 36.4% meaning its dividend is sufficiently covered by earnings. Analysts expect U.S. Bancorp to earn $4.66 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 31.8%.

U.S. Bancorp stock traded down $1.56 during mid-day trading on Wednesday, hitting $50.37. 6,454,764 shares of the company were exchanged, compared to its average volume of 6,537,538. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $83.93 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 1.72 and a beta of 1.08. U.S. Bancorp has a 12-month low of $43.14 and a 12-month high of $55.56.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.01. The company had revenue of $5.83 billion during the quarter, compared to the consensus estimate of $5.73 billion. U.S. Bancorp had a return on equity of 15.64% and a net margin of 27.53%. U.S. Bancorp’s revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.88 earnings per share. On average, analysts forecast that U.S. Bancorp will post 4.35 EPS for the current fiscal year.

In other U.S. Bancorp news, Vice Chairman Leslie V. Godridge sold 14,737 shares of the company’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $51.50, for a total value of $758,955.50. Following the completion of the sale, the insider now directly owns 61,737 shares in the company, valued at $3,179,455.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.24% of the company’s stock.

Several research firms have recently commented on USB. Barclays upped their target price on U.S. Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, January 2nd. Standpoint Research downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $54.16 to $63.00 in a research report on Monday, November 26th. They noted that the move was a valuation call. Jefferies Financial Group downgraded U.S. Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, January 8th. Robert W. Baird downgraded U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $51.00 price objective for the company. in a research report on Monday, January 28th. Finally, Deutsche Bank downgraded U.S. Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, November 26th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $58.00.

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U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

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Dividend History for U.S. Bancorp (NYSE:USB)

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