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

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

U.S. Bancorp Trading Down 0.2 %

NYSE USB opened at $39.44 on Friday. U.S. Bancorp has a 1-year low of $27.27 and a 1-year high of $45.85. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07. The stock has a 50-day moving average of $42.31 and a 200-day moving average of $39.72. The firm has a market cap of $61.45 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 2.04 and a beta of 1.05.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date of this dividend was Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.

Analyst Upgrades and Downgrades

USB has been the topic of several research reports. Jefferies Financial Group boosted their target price on U.S. Bancorp from $44.00 to $46.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Royal Bank of Canada boosted their target price on U.S. Bancorp from $43.00 to $47.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. StockNews.com lowered U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, February 20th. Compass Point upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price target for the company from $46.00 to $49.00 in a research report on Friday, March 22nd. Finally, Piper Sandler reiterated a “neutral” rating on shares of U.S. Bancorp in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $46.91.

Insider Activity

In other news, EVP James L. Chosy sold 21,582 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the sale, the executive vice president now owns 164,880 shares of the company’s stock, valued at approximately $6,837,573.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other U.S. Bancorp news, insider Terrance R. Dolan sold 26,583 shares of the company’s stock in a transaction that occurred 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 owns 144,236 shares of the company’s stock, valued at approximately $6,255,515.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James L. Chosy sold 21,582 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 164,880 shares of the company’s stock, valued at approximately $6,837,573.60. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of USB. Moneta Group Investment Advisors LLC raised its position in U.S. Bancorp by 130,768.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 60,273,882 shares of the financial services provider’s stock valued at $2,628,544,000 after purchasing an additional 60,227,825 shares during the last quarter. Norges Bank bought a new position in U.S. Bancorp during the 4th quarter valued at approximately $644,436,000. Viking Global Investors LP bought a new position in U.S. Bancorp during the 4th quarter valued at approximately $414,174,000. Morgan Stanley raised its position in U.S. Bancorp by 29.4% during the 4th quarter. Morgan Stanley now owns 14,829,544 shares of the financial services provider’s stock valued at $646,716,000 after purchasing an additional 3,371,477 shares during the last quarter. Finally, Legal & General Group Plc raised its position in U.S. Bancorp by 22.5% during the 4th quarter. Legal & General Group Plc now owns 11,988,645 shares of the financial services provider’s stock valued at $518,869,000 after purchasing an additional 2,199,685 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

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.