U.S. Bancorp (USB) Plans Quarterly Dividend of $0.37
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.
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.
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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