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

U.S. Bancorp (NYSE:USB) issued its quarterly earnings data on Wednesday. The financial services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.01, Briefing.com reports. The business had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.71 billion. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The company’s revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.16 EPS.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $40.45 on Friday. U.S. Bancorp has a 52 week low of $27.27 and a 52 week high of $45.85. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07. The firm’s 50-day simple moving average is $42.32 and its 200 day simple moving average is $39.78. The firm has a market capitalization of $63.03 billion, a PE ratio of 13.39, a P/E/G ratio of 2.05 and a beta of 1.05.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a $0.49 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.96 annualized dividend and a dividend yield of 4.85%. U.S. Bancorp’s dividend payout ratio is presently 64.90%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on USB shares. DA Davidson cut their target price on shares of U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating on the stock in a report on Thursday. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $45.00 target price (down from $52.00) on shares of U.S. Bancorp in a report on Thursday. StockNews.com cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, February 20th. UBS Group cut their target price on shares of U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Royal Bank of Canada lifted their target price on shares of U.S. Bancorp from $43.00 to $47.00 and gave the company an “outperform” rating in a report on Thursday, January 18th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $46.68.

Insider Buying and Selling

In other U.S. Bancorp news, insider Terrance R. Dolan sold 26,583 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total value of $1,152,904.71. Following the transaction, the insider now directly owns 144,236 shares in the company, valued at approximately $6,255,515.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the transaction, the executive vice president now directly owns 164,880 shares in the company, valued at approximately $6,837,573.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Terrance R. Dolan sold 26,583 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 144,236 shares in the company, valued at $6,255,515.32. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in USB. Compass Wealth Management LLC acquired a new position in shares of U.S. Bancorp during the 4th quarter valued at about $39,000. Pacific Center for Financial Services acquired a new stake in U.S. Bancorp during the 1st quarter worth approximately $36,000. Cornerstone Planning Group LLC acquired a new stake in U.S. Bancorp during the 2nd quarter worth approximately $35,000. PCA Investment Advisory Services Inc. acquired a new stake in U.S. Bancorp during the 2nd quarter worth approximately $36,000. Finally, Covestor Ltd increased its position in U.S. Bancorp by 62.6% during the 1st quarter. Covestor Ltd now owns 1,424 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 548 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

About U.S. Bancorp

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.