U.S. Bancorp (USB) to Issue Quarterly Dividend of $0.49 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 0.49 per share by the financial services provider on Monday, July 15th. This represents a $1.96 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date is Friday, June 28th.

U.S. Bancorp has raised its dividend payment by an average of 4.7% annually over the last three years and has raised its dividend annually for the last 13 consecutive years. U.S. Bancorp has a payout ratio of 46.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect U.S. Bancorp to earn $4.22 per share next year, which means the company should continue to be able to cover its $1.96 annual dividend with an expected future payout ratio of 46.4%.

U.S. Bancorp Stock Performance

NYSE USB opened at $39.29 on Thursday. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $45.85. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07. The stock has a market cap of $61.31 billion, a P/E ratio of 13.01, a PEG ratio of 3.77 and a beta of 1.04. The company’s 50-day simple moving average is $40.49 and its 200 day simple moving average is $41.71.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The business had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same period in the prior year, the firm posted $1.16 EPS. U.S. Bancorp’s quarterly revenue was down 6.4% compared to the same quarter last year. As a group, research analysts forecast that U.S. Bancorp will post 3.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $47.00 price target on shares of U.S. Bancorp in a research report on Thursday, May 16th. StockNews.com upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, June 14th. Evercore ISI lifted their price objective on U.S. Bancorp from $46.00 to $48.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. Barclays decreased their target price on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $45.00 price target (down from $52.00) on shares of U.S. Bancorp in a report on Thursday, April 18th. Fifteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $46.02.

About U.S. Bancorp

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.