U.S. Bancorp (NYSE:USB) announced its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.88 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.88, Bloomberg Earnings reports. U.S. Bancorp had a net margin of 25.46% and a return on equity of 13.91%. The firm had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.60 billion. During the same period last year, the firm posted $0.84 EPS. U.S. Bancorp’s revenue was up 4.1% on a year-over-year basis.
U.S. Bancorp (NYSE USB) traded up 0.26% on Friday, hitting $54.44. The stock had a trading volume of 4,862,947 shares. The stock has a market cap of $91.07 billion, a price-to-earnings ratio of 16.45 and a beta of 0.87. U.S. Bancorp has a one year low of $43.83 and a one year high of $56.61. The stock’s 50 day moving average is $53.16 and its 200 day moving average is $52.19.
The business also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Thursday, September 28th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.28. U.S. Bancorp’s payout ratio is currently 35.61%.
Several large investors have recently modified their holdings of USB. Janus Henderson Group PLC lifted its position in U.S. Bancorp by 5,598.0% during the second quarter. Janus Henderson Group PLC now owns 12,653,535 shares of the financial services provider’s stock worth $656,975,000 after buying an additional 12,431,466 shares during the period. New England Asset Management Inc. lifted its position in U.S. Bancorp by 52.5% during the first quarter. New England Asset Management Inc. now owns 26,571,846 shares of the financial services provider’s stock worth $1,368,451,000 after buying an additional 9,150,126 shares during the period. Principal Financial Group Inc. lifted its position in U.S. Bancorp by 154.2% during the second quarter. Principal Financial Group Inc. now owns 5,836,557 shares of the financial services provider’s stock worth $303,034,000 after buying an additional 3,540,530 shares during the period. Alecta Pensionsforsakring Omsesidigt lifted its position in U.S. Bancorp by 1,130.0% during the first quarter. Alecta Pensionsforsakring Omsesidigt now owns 2,460,000 shares of the financial services provider’s stock worth $126,690,000 after buying an additional 2,260,000 shares during the period. Finally, Vanguard Group Inc. lifted its position in U.S. Bancorp by 1.7% during the second quarter. Vanguard Group Inc. now owns 105,568,014 shares of the financial services provider’s stock worth $5,481,092,000 after buying an additional 1,727,498 shares during the period. Institutional investors and hedge funds own 73.95% of the company’s stock.
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Several brokerages recently weighed in on USB. Wells Fargo & Company began coverage on shares of U.S. Bancorp in a report on Wednesday, August 9th. They issued a “market perform” rating and a $56.00 price target on the stock. BidaskClub downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a report on Thursday, October 19th. Bank of America Corporation downgraded shares of U.S. Bancorp from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $56.00 to $54.00 in a report on Monday, October 2nd. Finally, Zacks Investment Research downgraded shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $54.06.
About U.S. Bancorp
U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.
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