U.S. Bancorp (USB) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS

U.S. Bancorp (NYSE:USB) announced its earnings results on Wednesday. The financial services provider reported $0.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.01, Bloomberg Earnings reports. U.S. Bancorp had a net margin of 25.91% and a return on equity of 13.89%. The business had revenue of $5.64 billion during the quarter, compared to analysts’ expectations of $5.59 billion. During the same quarter in the prior year, the company posted $0.82 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis.

U.S. Bancorp (NYSE:USB) opened at $56.15 on Friday. The firm has a market cap of $93,495.72, a PE ratio of 15.95, a PEG ratio of 1.91 and a beta of 0.85. U.S. Bancorp has a 1 year low of $49.53 and a 1 year high of $57.69. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.82 and a quick ratio of 0.82.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend was Thursday, December 28th. U.S. Bancorp’s payout ratio is presently 34.09%.

Several research analysts recently commented on the stock. Royal Bank of Canada increased their target price on shares of U.S. Bancorp to $61.00 and gave the stock an “outperform” rating in a report on Thursday. Morgan Stanley increased their price target on shares of U.S. Bancorp from $51.00 to $55.00 and gave the company an “underweight” rating in a research note on Thursday, October 19th. Oppenheimer reiterated a “hold” rating on shares of U.S. Bancorp in a research note on Thursday, October 19th. Vining Sparks reiterated a “buy” rating and issued a $64.00 price target on shares of U.S. Bancorp in a research note on Monday, January 8th. Finally, Nomura cut shares of U.S. Bancorp from a “buy” rating to a “neutral” rating and cut their price target for the company from $57.00 to $55.00 in a research note on Thursday, September 28th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company. U.S. Bancorp currently has an average rating of “Hold” and a consensus target price of $56.56.

Several institutional investors and hedge funds have recently modified their holdings of USB. Janus Henderson Group PLC increased its position in U.S. Bancorp by 5,598.0% during the second quarter. Janus Henderson Group PLC now owns 12,653,535 shares of the financial services provider’s stock worth $656,975,000 after acquiring an additional 12,431,466 shares during the period. Principal Financial Group Inc. increased its position in U.S. Bancorp by 154.2% during the second quarter. Principal Financial Group Inc. now owns 5,836,557 shares of the financial services provider’s stock worth $303,034,000 after acquiring an additional 3,540,530 shares during the period. Truepoint Inc. increased its position in U.S. Bancorp by 5,417.9% during the third quarter. Truepoint Inc. now owns 3,070,777 shares of the financial services provider’s stock worth $3,071,000 after acquiring an additional 3,015,126 shares during the period. Stifel Financial Corp increased its position in U.S. Bancorp by 5,557.0% during the third quarter. Stifel Financial Corp now owns 2,020,912 shares of the financial services provider’s stock worth $108,264,000 after acquiring an additional 1,985,188 shares during the period. Finally, Vanguard Group Inc. increased its position in U.S. Bancorp by 1.7% during the second quarter. Vanguard Group Inc. now owns 105,568,014 shares of the financial services provider’s stock worth $5,481,092,000 after acquiring an additional 1,727,498 shares during the period. 73.98% of the stock is currently owned by institutional investors.

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About U.S. Bancorp

U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.

Earnings History for U.S. Bancorp (NYSE:USB)

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