U.S. Bancorp (USB) Issues Earnings Results, Beats Expectations By $0.01 EPS
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 Thomson Reuters’ 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 stock has a market cap of $73.61 billion, a price-to-earnings ratio of 13.48 and a beta of 0.82. The company has a 50-day moving average price of $43.27 and a 200-day moving average price of $42.16. U.S. Bancorp has a 1-year low of $37.07 and a 1-year high of $44.58.
The business also recently announced a quarterly dividend, which was paid on Monday, October 17th. Investors of record on Friday, September 30th were paid a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $1.12 dividend on an annualized basis 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 dividend payout ratio is presently 35.00%.
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In other U.S. Bancorp news, EVP Craig E. Gifford sold 2,500 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $2,088,517.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Gillern Jeffry H. Von sold 102,961 shares of the firm’s stock in a transaction that occurred 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 owns 178,422 shares in the company, valued at approximately $7,493,724. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Bellwether Investment Group LLC purchased a new stake in shares of U.S. Bancorp during the second quarter valued at approximately $116,000. Seven Eight Capital LLC raised its stake in shares of U.S. Bancorp by 425.0% in the second quarter. Seven Eight Capital LLC now owns 4,200 shares of the financial services provider’s stock valued at $169,000 after buying an additional 3,400 shares during the last quarter. Point72 Asia Hong Kong Ltd raised its stake in shares of U.S. Bancorp by 400.0% in the second quarter. Point72 Asia Hong Kong Ltd now owns 4,500 shares of the financial services provider’s stock valued at $181,000 after buying an additional 3,600 shares during the last quarter. Dubuque Bank & Trust Co. raised its stake in shares of U.S. Bancorp by 8.9% in the second quarter. Dubuque Bank & Trust Co. now owns 4,535 shares of the financial services provider’s stock valued at $183,000 after buying an additional 372 shares during the last quarter. Finally, WFG Advisors LP raised its stake in shares of U.S. Bancorp by 0.3% in the second quarter. WFG Advisors LP now owns 4,886 shares of the financial services provider’s stock valued at $197,000 after buying an additional 13 shares during the last quarter. Institutional investors own 72.56% of the company’s stock.
Several analysts have issued reports on the company. Deutsche Bank AG reaffirmed a “hold” rating on shares of U.S. Bancorp in a research note on Sunday, June 26th. Nomura reaffirmed a “buy” rating on shares of U.S. Bancorp in a research note on Saturday, July 9th. Wells Fargo & Co. reissued a “buy” rating on shares of U.S. Bancorp in a research note on Saturday, July 9th. Barclays PLC reissued a “buy” rating on shares of U.S. Bancorp in a research note on Saturday, July 9th. Finally, Oppenheimer Holdings Inc. reissued a “hold” rating on shares of U.S. Bancorp in a research note on Saturday, September 17th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price 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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