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

U.S. Bancorp (NYSE:USB) declared a quarterly dividend on Tuesday, March 11th, RTT News reports. Shareholders 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 yield of 4.81%.

U.S. Bancorp has increased its dividend payment by an average of 4.0% per year over the last three years and has raised its dividend every year for the last 14 years. U.S. Bancorp has a payout ratio of 41.2% indicating that its dividend is sufficiently covered by earnings. Research 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 Stock Down 1.8 %

Shares of NYSE USB traded down $0.77 during mid-day trading on Tuesday, reaching $41.60. 17,586,798 shares of the company’s stock were exchanged, compared to its average volume of 9,638,055. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $64.81 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 1.73 and a beta of 1.02. The business has a fifty day simple moving average of $47.42 and a 200 day simple moving average of $47.91.

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Truist Financial began coverage on shares of U.S. Bancorp in a research note on Tuesday, January 7th. They issued a “hold” rating and a $54.00 target price for the company. DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Wells Fargo & Company lifted their target price on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Citigroup raised U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the stock from $49.00 to $65.00 in a research report on Monday, November 25th. Finally, Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective on the stock in a report on Monday, January 13th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $54.21.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Terrance R. Dolan sold 66,317 shares of U.S. Bancorp stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the completion of the transaction, the insider now directly owns 209,482 shares of the company’s stock, valued at $9,837,274.72. The trade was a 24.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jodi L. Richard sold 30,000 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the completion of the transaction, the insider now directly owns 99,790 shares in the company, valued at $4,749,006.10. The trade was a 23.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 219,812 shares of company stock valued at $10,385,665 over the last 90 days. 0.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On U.S. Bancorp

A hedge fund recently raised its stake in U.S. Bancorp stock. Brighton Jones LLC grew its position in shares of U.S. Bancorp (NYSE:USB) by 323.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,274 shares of the financial services provider’s stock after buying an additional 36,863 shares during the period. Brighton Jones LLC’s holdings in U.S. Bancorp were worth $2,309,000 at the end of the most recent quarter. Hedge funds and other 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.