U.S. Bancorp (USB) to Issue Quarterly Dividend of $0.37 on July 15th

U.S. Bancorp (NYSE:USB) announced a quarterly dividend on Tuesday, June 18th, RTT News reports. Shareholders of record on Friday, June 28th will be given a dividend of 0.37 per share by the financial services provider on Monday, July 15th. This represents a $1.48 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date is Thursday, June 27th.

U.S. Bancorp has raised its dividend payment by an average of 8.3% annually over the last three years and has raised its dividend every year for the last 8 years. U.S. Bancorp has a dividend payout ratio of 36.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect U.S. Bancorp to earn $4.54 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 32.6%.

USB opened at $52.06 on Tuesday. U.S. Bancorp has a fifty-two week low of $43.14 and a fifty-two week high of $55.56. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.84 and a quick ratio of 0.83. The business’s fifty day simple moving average is $51.87. The firm has a market capitalization of $83.20 billion, a P/E ratio of 12.70, a P/E/G ratio of 1.74 and a beta of 1.08.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, April 17th. The financial services provider reported $1.00 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.00. U.S. Bancorp had a net margin of 27.02% and a return on equity of 15.53%. The company had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.62 billion. During the same quarter in the previous year, the company earned $0.96 EPS. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, analysts forecast that U.S. Bancorp will post 4.28 earnings per share for the current fiscal year.

Several brokerages have recently commented on USB. Zacks Investment Research downgraded shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, April 15th. Oppenheimer boosted their target price on shares of U.S. Bancorp from $58.00 to $62.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $58.33.

In related news, Vice Chairman Gillern Jeffry H. Von sold 4,669 shares of U.S. Bancorp stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $53.14, for a total value of $248,110.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Leslie V. Godridge sold 12,564 shares of U.S. Bancorp stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $51.53, for a total value of $647,422.92. Following the completion of the transaction, the insider now directly owns 39,330 shares of the company’s stock, valued at $2,026,674.90. The disclosure for this sale can be found here. Insiders sold 37,233 shares of company stock valued at $1,907,734 over the last ninety days. 0.24% of the stock is currently owned by company insiders.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

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Dividend History for U.S. Bancorp (NYSE:USB)

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