U.S. Bancorp (NYSE:USB) Plans $0.50 Quarterly Dividend

U.S. Bancorp (NYSE:USB) declared a quarterly dividend on Tuesday, December 10th,RTT News reports. Shareholders of record on Tuesday, December 31st will be paid a dividend of 0.50 per share by the financial services provider on Wednesday, January 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.88%.

U.S. Bancorp has raised its dividend by an average of 4.7% annually over the last three years and has raised its dividend annually for the last 14 consecutive years. U.S. Bancorp has a dividend payout ratio of 46.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect U.S. Bancorp to earn $4.30 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 46.5%.

U.S. Bancorp Trading Up 0.5 %

Shares of USB traded up $0.26 during mid-day trading on Tuesday, reaching $51.57. The company had a trading volume of 6,357,286 shares, compared to its average volume of 8,233,312. The stock has a market cap of $80.45 billion, a price-to-earnings ratio of 15.77, a price-to-earnings-growth ratio of 3.08 and a beta of 1.03. The firm has a fifty day simple moving average of $49.24 and a 200-day simple moving average of $44.95. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.04. The business had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.05 EPS. On average, sell-side analysts anticipate that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

Insider Activity

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the transaction, the insider now owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This trade represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Piper Sandler lifted their target price on shares of U.S. Bancorp from $52.00 to $58.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Robert W. Baird set a $54.00 target price on shares of U.S. Bancorp in a report on Thursday, October 17th. Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their target price for the company from $49.00 to $65.00 in a report on Monday, November 25th. Deutsche Bank Aktiengesellschaft lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a report on Thursday, October 24th. Finally, Evercore ISI boosted their price objective on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Twelve research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $53.27.

U.S. Bancorp declared that its board has authorized a stock buyback plan on Thursday, September 12th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is 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.