U.S. Bancorp (NYSE:USB) issued its earnings results on Wednesday. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.01. U.S. Bancorp had a return on equity of 14.05% and a net margin of 26.56%.
Shares of U.S. Bancorp (NYSE:USB) opened at 43.01 on Wednesday. The company has a market cap of $73.61 billion, a price-to-earnings ratio of 13.48 and a beta of 0.82. U.S. Bancorp has a 1-year low of $37.07 and a 1-year high of $44.58. The company’s 50-day moving average is $43.27 and its 200 day moving average is $42.16.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 17th. Investors of record on Friday, September 30th were paid a dividend of $0.28 per share. The ex-dividend date was Wednesday, September 28th. This represents a $1.12 annualized dividend and a yield of 2.60%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.26. U.S. Bancorp’s payout ratio is presently 35.00%.
In other news, EVP Craig E. Gifford sold 2,500 shares of the stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $41.87, for a total value of $104,675.00. Following the sale, the executive vice president now owns 49,881 shares of the company’s stock, valued at $2,088,517.47. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Gillern Jeffry H. Von sold 102,961 shares of the stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $42.00, for a total transaction of $4,324,362.00. Following the completion of the sale, the insider now directly owns 178,422 shares in the company, valued at approximately $7,493,724. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. Alerus Financial NA purchased a new stake in shares of U.S. Bancorp during the second quarter valued at $2,744,000. AXA increased its stake in shares of U.S. Bancorp by 4.8% in the second quarter. AXA now owns 1,509,356 shares of the financial services provider’s stock valued at $60,872,000 after buying an additional 68,615 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of U.S. Bancorp during the second quarter valued at $6,635,000. Associated Banc Corp increased its stake in shares of U.S. Bancorp by 2.6% in the second quarter. Associated Banc Corp now owns 446,090 shares of the financial services provider’s stock valued at $17,990,000 after buying an additional 11,434 shares in the last quarter. Finally, Crawford Investment Counsel Inc. increased its stake in shares of U.S. Bancorp by 7.8% in the second quarter. Crawford Investment Counsel Inc. now owns 5,316 shares of the financial services provider’s stock valued at $214,000 after buying an additional 385 shares in the last quarter. 72.56% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on USB. Wedbush began coverage on U.S. Bancorp in a report on Thursday, October 6th. They issued a “neutral” rating and a $46.00 target price for the company. Portales Partners raised U.S. Bancorp from a “sector perform” rating to an “outperform” rating in a report on Thursday, August 25th. Credit Agricole SA increased their target price on U.S. Bancorp from $43.00 to $45.00 and gave the stock an “underperform” rating in a report on Friday, September 23rd. Wells Fargo & Co. reaffirmed a “buy” rating on shares of U.S. Bancorp in a report on Friday, September 16th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $44.00 price target on shares of U.S. Bancorp in a report on Wednesday, August 10th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $45.22.
U.S. Bancorp Company Profile
U.S. Bancorp is a multi-state financial services holding company. The Company’s banking subsidiary, U.S. Bank National Association, is engaged in the general banking business in domestic markets. It provides a range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services.
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