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.
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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