U.S. Bancorp (NYSE:USB) Releases Earnings Results, Beats Expectations By $0.04 EPS

U.S. Bancorp (NYSE:USB) posted its quarterly earnings data on Wednesday. The financial services provider reported $1.03 EPS for the quarter, topping 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 firm posted $1.05 earnings per share. U.S. Bancorp’s quarterly revenue was down 2.4% on a year-over-year basis.

U.S. Bancorp Stock Down 0.0 %

Shares of USB stock opened at $49.96 on Friday. U.S. Bancorp has a 12 month low of $30.47 and a 12 month high of $50.47. The stock has a market cap of $77.96 billion, a P/E ratio of 16.55, a P/E/G ratio of 3.32 and a beta of 1.03. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05. The company has a 50 day simple moving average of $45.10 and a two-hundred day simple moving average of $42.63.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.50 per share. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s dividend payout ratio is currently 66.23%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. UBS Group boosted their price objective on shares of U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. The Goldman Sachs Group dropped their price objective on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Stephens boosted their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday. DA Davidson boosted their price objective on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Citigroup upped their target price on shares of U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $50.34.

U.S. Bancorp announced that its Board of Directors has approved a share buyback plan on Thursday, September 12th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

U.S. Bancorp Company Profile

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.