U.S. Bancorp (NYSE:USB) Declares Quarterly Dividend of $0.50

U.S. Bancorp (NYSE:USB) declared a quarterly dividend on Tuesday, March 11th, RTT News reports. Investors of record on Monday, March 31st will be paid a dividend of 0.50 per share by the financial services provider on Tuesday, April 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.84%.

U.S. Bancorp has raised its dividend payment by an average of 4.0% per year over the last three years and has raised its dividend every year for the last 14 years. U.S. Bancorp has a payout ratio of 41.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect U.S. Bancorp to earn $4.82 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 41.5%.

U.S. Bancorp Stock Performance

NYSE USB traded down $0.27 during trading hours on Wednesday, reaching $41.29. 1,810,755 shares of the company were exchanged, compared to its average volume of 9,459,407. The stock has a market capitalization of $64.33 billion, a P/E ratio of 10.91, a P/E/G ratio of 1.73 and a beta of 1.02. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 1 year low of $37.81 and a 1 year high of $53.98. The business’s 50 day simple moving average is $47.29 and its 200-day simple moving average is $47.89.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The company had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. During the same quarter last year, the business posted $0.99 EPS. U.S. Bancorp’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Compass Point upped their price target on U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Barclays increased their target price on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the company from $49.00 to $65.00 in a research note on Monday, November 25th. Oppenheimer lifted their price objective on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Finally, Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price on the stock in a report on Monday, January 13th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.21.

Insider Transactions at U.S. Bancorp

In related news, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the transaction, the insider now directly owns 209,482 shares of the company’s stock, valued at approximately $9,837,274.72. This trade represents a 24.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Andrew Cecere sold 102,044 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total value of $4,821,579.00. Following the completion of the sale, the chief executive officer now directly owns 1,230,316 shares of the company’s stock, valued at approximately $58,132,431. This represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 219,812 shares of company stock valued at $10,385,665. Insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On U.S. Bancorp

An institutional investor recently raised its position in U.S. Bancorp stock. Brighton Jones LLC lifted its stake in U.S. Bancorp (NYSE:USB) by 323.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,274 shares of the financial services provider’s stock after buying an additional 36,863 shares during the period. Brighton Jones LLC’s holdings in U.S. Bancorp were worth $2,309,000 as of its most recent SEC filing. 77.60% of the stock is currently owned by institutional investors and hedge funds.

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.