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

U.S. Bancorp (NYSE:USB - Get Free Report) declared a quarterly dividend on Wednesday, June 18th, RTT News reports. Shareholders of record on Monday, June 30th will be paid a dividend of 0.50 per share by the financial services provider on Tuesday, July 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.63%.

U.S. Bancorp has a dividend payout ratio of 41.8% meaning 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 Stock Up 1.2%

U.S. Bancorp stock traded up $0.51 during trading hours on Wednesday, hitting $43.20. The stock had a trading volume of 12,696,450 shares, compared to its average volume of 9,125,920. The stock's 50-day moving average price is $41.95 and its 200-day moving average price is $44.92. The stock has a market capitalization of $67.30 billion, a P/E ratio of 10.69, a price-to-earnings-growth ratio of 1.62 and a beta of 0.99. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.06. U.S. Bancorp had a return on equity of 13.02% and a net margin of 15.70%. The business had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.92 billion. During the same quarter last year, the company earned $0.78 EPS. Equities research analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on USB shares. Wall Street Zen downgraded U.S. Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, June 7th. Piper Sandler dropped their target price on U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Wells Fargo & Company cut their price target on U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. The Goldman Sachs Group upped their price target on shares of U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a research report on Tuesday, June 10th. Finally, Citigroup dropped their price objective on shares of U.S. Bancorp from $65.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $50.72.

Insider Activity

In other U.S. Bancorp news, Director Aleem Gillani bought 5,000 shares of the business's stock in a transaction that occurred on Monday, April 21st. The stock was purchased at an average cost of $37.32 per share, with a total value of $186,600.00. Following the completion of the acquisition, the director now owns 15,000 shares in the company, valued at $559,800. This trade represents a 50.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.23% of the company's stock.

Institutional Investors Weigh In On U.S. Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. Intech Investment Management LLC raised its position in U.S. Bancorp by 18.9% during the 1st quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider's stock valued at $1,658,000 after purchasing an additional 6,252 shares in the last quarter. Empowered Funds LLC increased its stake in shares of U.S. Bancorp by 2.1% during the first quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider's stock valued at $1,453,000 after buying an additional 714 shares during the period. Finally, Brighton Jones LLC raised its holdings in shares of U.S. Bancorp by 323.0% in the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider's stock valued at $2,309,000 after acquiring an additional 36,863 shares in the last quarter. 77.60% of the stock is owned by 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.

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