U.S. Bancorp (NYSE:USB) Announces Quarterly Dividend of $0.52

Key Points

• U.S. Bancorp declared a quarterly dividend of $0.52 (annualized $2.08) with an ex‑dividend and record date of March 31 and a payment date of April 15, implying a ~4.0% yield; the bank has raised its dividend for 14 consecutive years and pays out about 43% of earnings, indicating coverage.
• The company beat the latest quarter with $1.26 EPS versus $1.19 expected and revenue of $7.92 billion, and analysts maintain a consensus "Moderate Buy" with an average target of $60.02 after several recent price‑target upgrades into the low‑to‑mid $60s.

U.S. Bancorp (NYSE:USB - Get Free Report) declared a quarterly dividend on Tuesday, March 10th. Investors of record on Tuesday, March 31st will be paid a dividend of 0.52 per share by the financial services provider on Wednesday, April 15th. This represents a c) dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Tuesday, March 31st.

U.S. Bancorp has increased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 14 consecutive years. U.S. Bancorp has a payout ratio of 43.4% meaning 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 $2.08 annual dividend with an expected future payout ratio of 43.2%.

U.S. Bancorp Price Performance

USB traded down $0.25 on Wednesday, hitting $51.70. 7,168,061 shares of the stock were exchanged, compared to its average volume of 11,270,474. The firm has a market capitalization of $80.32 billion, a price-to-earnings ratio of 11.20, a PEG ratio of 0.93 and a beta of 1.04. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $61.19. The business has a 50-day moving average of $55.98 and a two-hundred day moving average of $51.56.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results on Tuesday, January 20th. The financial services provider reported $1.26 EPS for the quarter, beating the consensus estimate of $1.19 by $0.07. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The firm had revenue of $7.92 billion for the quarter, compared to analyst estimates of $7.31 billion. During the same period last year, the firm earned $1.07 EPS. The business's quarterly revenue was up 5.1% compared to the same quarter last year. Sell-side analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on USB. Argus lifted their price objective on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company a "buy" rating in a research note on Thursday, January 22nd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of U.S. Bancorp in a report on Wednesday, January 21st. Truist Financial upgraded U.S. Bancorp from a "hold" rating to a "buy" rating and lifted their price target for the company from $61.00 to $66.00 in a research note on Thursday, February 26th. JPMorgan Chase & Co. boosted their price target on U.S. Bancorp from $55.50 to $62.00 and gave the stock an "underweight" rating in a report on Monday, February 9th. Finally, TD Cowen upped their price objective on U.S. Bancorp from $65.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, U.S. Bancorp has a consensus rating of "Moderate Buy" and a consensus target price of $60.02.

U.S. Bancorp Company Profile

U.S. Bancorp NYSE: USB is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.

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