U.S. Bancorp (NYSE:USB) Posts Earnings Results, Beats Estimates 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, beating analysts’ consensus estimates of $0.89 by $0.01, Briefing.com reports. The firm had revenue of $6.72 billion during 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%. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.16 earnings per share.

U.S. Bancorp Price Performance

NYSE USB opened at $39.44 on Friday. The firm’s fifty day simple moving average is $42.31 and its two-hundred day simple moving average is $39.72. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07. U.S. Bancorp has a 12-month low of $27.27 and a 12-month high of $45.85. The firm has a market capitalization of $61.45 billion, a P/E ratio of 13.06, a P/E/G ratio of 2.04 and a beta of 1.05.

U.S. Bancorp Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on USB shares. Compass Point upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price objective for the company from $46.00 to $49.00 in a research report on Friday, March 22nd. StockNews.com lowered U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, February 20th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $45.00 price target (down previously from $52.00) on shares of U.S. Bancorp in a research report on Thursday. Piper Sandler reiterated a “neutral” rating on shares of U.S. Bancorp in a research report on Friday, January 26th. Finally, Evercore ISI lifted their price target on U.S. Bancorp from $46.00 to $48.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $46.91.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of U.S. Bancorp stock in a transaction 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 $6,837,573.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of U.S. Bancorp stock in a transaction 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 $6,837,573.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Terrance R. Dolan sold 26,583 shares of U.S. Bancorp stock in a transaction 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 directly owns 144,236 shares in the company, valued at $6,255,515.32. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On U.S. Bancorp

A number of large investors have recently made changes to their positions in USB. Moneta Group Investment Advisors LLC grew its holdings in shares of U.S. Bancorp by 130,768.0% during the fourth 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 buying an additional 60,227,825 shares during the last quarter. Norges Bank acquired a new position in U.S. Bancorp during the fourth quarter valued at $644,436,000. Viking Global Investors LP acquired a new position in U.S. Bancorp during the fourth quarter valued at $414,174,000. Morgan Stanley lifted its position in U.S. Bancorp by 29.4% during the fourth 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 period. Finally, Legal & General Group Plc lifted its position in U.S. Bancorp by 22.5% during the fourth 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 period. 77.60% of the stock is 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.