U.S. Bancorp (NYSE:USB) Announces Quarterly Earnings Results

by · The Markets Daily

U.S. Bancorp (NYSE:USB – Get Free Report) released its earnings results on Wednesday. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.04, Briefing.com reports. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The business had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same quarter in the previous year, the business earned $1.05 earnings per share. U.S. Bancorp’s revenue for the quarter was down 2.4% on a year-over-year basis.

U.S. Bancorp Stock Performance

NYSE:USB traded down $0.64 during trading hours on Friday, reaching $49.33. The company had a trading volume of 7,160,782 shares, compared to its average volume of 8,372,827. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. The business’s 50 day moving average price is $45.10 and its 200-day moving average price is $42.63. U.S. Bancorp has a 1-year low of $30.47 and a 1-year high of $50.47. The firm has a market cap of $76.98 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 3.32 and a beta of 1.03.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio (DPR) is 66.23%.

U.S. Bancorp announced that its board has approved a stock repurchase program on Thursday, September 12th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

USB has been the topic of a number of research reports. JPMorgan Chase & Co. downgraded U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price target on the stock. in a research note on Thursday, June 27th. Barclays boosted their target price on U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday. Jefferies Financial Group lowered their target price on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Wells Fargo & Company lifted their target price on U.S. Bancorp from $52.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday. Finally, UBS Group lifted their target price on shares of U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, U.S. Bancorp has a consensus rating of “Hold” and an average target price of $50.34.

View Our Latest Analysis on U.S. Bancorp

U.S. Bancorp Company Profile

(Get Free Report)

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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