U.S. Bancorp (USB) to Issue Quarterly Dividend of $0.50 on April 15th

U.S. Bancorp (NYSE:USB) declared a quarterly dividend on Tuesday, March 11th, RTT News reports. Shareholders 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 yield of 4.80%.

U.S. Bancorp has increased its dividend payment by an average of 4.0% per year over the last three years and has increased its dividend every year for the last 14 years. U.S. Bancorp has a dividend payout ratio of 41.2% meaning its dividend is sufficiently covered by earnings. 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 Trading Up 0.3 %

Shares of USB stock opened at $41.70 on Thursday. The stock has a market cap of $64.96 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth 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 fifty-two week low of $37.81 and a fifty-two week high of $53.98. The firm’s 50 day moving average price is $47.17 and its two-hundred day moving average price is $47.84.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same period in the previous year, the company posted $0.99 earnings per share. U.S. Bancorp’s revenue was up 3.7% compared to the same quarter last year. On average, analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

Insider Transactions at U.S. Bancorp

In other news, insider Jodi L. Richard sold 30,000 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the completion of the transaction, the insider now owns 99,790 shares in the company, valued at approximately $4,749,006.10. This represents a 23.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Terrance R. Dolan sold 66,317 shares of the company’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 owns 209,482 shares of the company’s stock, valued at $9,837,274.72. This represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 219,812 shares of company stock worth $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 boosted its stake in shares of U.S. Bancorp (NYSE:USB) by 323.0% during the 4th quarter, according to the company in its most recent filing 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 at the end of the most recent reporting period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analysts Set New Price Targets

USB has been the topic of a number of recent research reports. Citigroup raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $49.00 to $65.00 in a research report on Monday, November 25th. 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 research report on Monday, January 13th. Raymond James upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target for the company in a research note on Thursday, December 19th. DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $58.00 to $60.00 in a research note on Thursday, January 2nd. Finally, Wells Fargo & Company lifted their price target on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, U.S. Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $54.21.

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.