U.S. Bancorp (USB) to Issue Quarterly Dividend of $0.52 on July 15th

U.S. Bancorp (NYSE:USB) announced a quarterly dividend on Tuesday, June 16th. Shareholders of record on Tuesday, June 30th will be given a dividend of 0.52 per share by the financial services provider on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Tuesday, June 30th.

U.S. Bancorp has raised its dividend by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 14 years. U.S. Bancorp has a payout ratio of 43.4% meaning its dividend is sufficiently covered by earnings. Analysts expect U.S. Bancorp to earn $5.61 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 37.1%.

U.S. Bancorp Price Performance

NYSE:USB opened at $57.81 on Thursday. U.S. Bancorp has a 52 week low of $42.55 and a 52 week high of $61.19. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $89.67 billion, a P/E ratio of 12.12, a P/E/G ratio of 1.06 and a beta of 0.97. The stock’s fifty day moving average is $55.55 and its two-hundred day moving average is $54.77.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The business had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.27 billion. During the same period in the previous year, the firm posted $1.03 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. Equities analysts expect that U.S. Bancorp will post 5.07 EPS for the current year.

Analysts Set New Price Targets

USB has been the subject of a number of research reports. Stephens initiated coverage on U.S. Bancorp in a research note on Monday. They issued an “equal weight” rating and a $63.00 price objective for the company. Wall Street Zen cut U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Barclays upped their price target on U.S. Bancorp from $65.00 to $67.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. DA Davidson restated a “buy” rating and set a $65.00 price target on shares of U.S. Bancorp in a report on Friday, April 17th. Finally, Truist Financial cut their price target on U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $61.29.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.