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

U.S. Bancorp (NYSE:USB) posted its quarterly earnings data on Wednesday. The financial services provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01, Briefing.com reports. U.S. Bancorp had a net margin of 13.36% and a return on equity of 14.89%. The company had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the prior year, the company posted $1.16 EPS. The company’s quarterly revenue was down 6.4% compared to the same quarter last year.

U.S. Bancorp Stock Down 1.0 %

USB stock opened at $39.11 on Thursday. U.S. Bancorp has a twelve month low of $27.27 and a twelve month high of $45.85. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $60.94 billion, a P/E ratio of 12.05, a PEG ratio of 2.12 and a beta of 1.05. The firm has a 50 day simple moving average of $42.33 and a 200-day simple moving average of $39.72.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date was Wednesday, March 27th. U.S. Bancorp’s payout ratio is currently 59.76%.

Insider Transactions at U.S. Bancorp

In other news, 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 owns 144,236 shares of the company’s stock, valued at $6,255,515.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of U.S. Bancorp stock in a transaction 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 transaction, 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 filing with the SEC, which is accessible through the SEC website. Also, insider Terrance R. Dolan sold 26,583 shares of U.S. Bancorp stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the completion of the transaction, 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. Corporate insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On U.S. Bancorp

A number of hedge funds have recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC boosted its holdings 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 worth $2,628,544,000 after purchasing an additional 60,227,825 shares during the period. Geode Capital Management LLC boosted its holdings 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 worth $942,590,000 after purchasing an additional 1,302,935 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings 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 worth $1,172,115,000 after purchasing an additional 1,622,711 shares during the period. Royal Bank of Canada boosted its holdings 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 worth $881,648,000 after purchasing an additional 58,113 shares during the period. Finally, Northern Trust Corp boosted its holdings 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 worth $945,727,000 after purchasing an additional 303,443 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analysts Set New Price Targets

USB has been the subject of a number of research analyst reports. HSBC raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and upped their price objective for the company from $47.00 to $53.00 in a research note on Thursday, March 28th. Compass Point raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the company from $46.00 to $49.00 in a research note on Friday, March 22nd. Evercore ISI upped their price objective on shares of U.S. Bancorp from $46.00 to $48.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. StockNews.com lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, February 20th. Finally, Barclays raised their price target on shares of U.S. Bancorp from $48.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $47.09.

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.