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

U.S. Bancorp (NYSE:USB) announced a quarterly dividend on Tuesday, December 10th,RTT News reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.50 per share by the financial services provider on Wednesday, January 15th. This represents a $2.00 annualized dividend and a dividend yield of 3.88%.

U.S. Bancorp has increased its dividend by an average of 4.7% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. U.S. Bancorp has a payout ratio of 46.4% meaning its dividend is sufficiently covered by earnings. Analysts expect U.S. Bancorp to earn $4.30 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 46.5%.

U.S. Bancorp Stock Performance

Shares of USB traded up $0.26 during mid-day trading on Tuesday, hitting $51.57. 6,357,286 shares of the company’s stock were exchanged, compared to its average volume of 8,233,312. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The firm has a market capitalization of $80.45 billion, a P/E ratio of 15.77, a P/E/G ratio of 3.08 and a beta of 1.03. The business’s 50 day moving average is $49.24 and its two-hundred day moving average is $44.95. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The business had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the prior year, the firm earned $1.05 earnings per share. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, equities analysts expect that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp announced that its Board of Directors has approved a share buyback plan on Thursday, September 12th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Oppenheimer raised their price objective on shares of U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a research report on Thursday, October 17th. Piper Sandler raised their price objective on shares of U.S. Bancorp from $52.00 to $58.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Evercore ISI increased their target price on shares of U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Finally, Stephens increased their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Twelve investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $53.27.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the completion of the sale, the insider now directly owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. The trade was a 16.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.23% of the stock is owned by corporate insiders.

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.