U.S. Bancorp (NYSE:USB) to Issue Quarterly Dividend of $0.50

U.S. Bancorp (NYSE:USB) announced a quarterly dividend on Tuesday, March 11th, RTT News reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.50 per share by the financial services provider on Tuesday, April 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.81%.

U.S. Bancorp has raised its dividend payment by an average of 4.0% annually over the last three years and has increased its dividend every year for the last 14 years. U.S. Bancorp has a dividend payout ratio of 41.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect U.S. Bancorp to earn $4.82 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 41.5%.

U.S. Bancorp Price Performance

NYSE:USB traded down $0.77 during trading hours on Tuesday, reaching $41.60. 17,586,798 shares of the company were exchanged, compared to its average volume of 9,638,055. The business has a 50 day moving average of $47.42 and a 200 day moving average of $47.91. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The company has a market capitalization of $64.81 billion, a P/E ratio of 10.98, a P/E/G ratio of 1.73 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. The company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. U.S. Bancorp’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.99 EPS. Research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, CEO Andrew Cecere sold 102,044 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total value of $4,821,579.00. Following the sale, the chief executive officer now owns 1,230,316 shares in the company, valued at approximately $58,132,431. The trade was a 7.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $46.96, for a total value of $3,114,246.32. Following the transaction, the insider now owns 209,482 shares of the company’s stock, valued at $9,837,274.72. This trade represents a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock worth $10,385,665 over the last three months. Company insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On U.S. Bancorp

A hedge fund recently raised its stake in U.S. Bancorp stock. Brighton Jones LLC raised its position in shares of U.S. Bancorp (NYSE:USB) by 323.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,274 shares of the financial services provider’s stock after acquiring an additional 36,863 shares during the quarter. Brighton Jones LLC’s holdings in U.S. Bancorp were worth $2,309,000 as of its most recent SEC filing. 77.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on USB shares. Truist Financial assumed coverage on shares of U.S. Bancorp in a report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 target price on the stock. Wells Fargo & Company lifted their price objective on shares of U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Raymond James upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price for the company in a research note on Thursday, December 19th. Morgan Stanley lowered their price target on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, Oppenheimer upped their price objective on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average target price of $54.21.

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.