U.S. Bancorp
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The last earnings update was 26 days ago. More info.
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USB Share Price and Events
7 Day Returns
1 Year Returns
USB Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| U.S. Bancorp (USB) | -2.3% | -1.8% | 10.1% | -4.1% | 22.3% | 17.4% |
| US Banks | 1.8% | 0.6% | 15.7% | -9% | 49.7% | 41.2% |
| US Market | 1.2% | 2.1% | 14.6% | 3% | 39% | 43.5% |
1 Year Return vs Industry and Market
- USB outperformed the Banks industry which returned -9% over the past year.
- USB underperformed the Market in United States of America which returned 3% over the past year.
Value
Is U.S. Bancorp undervalued based on future cash flows and its price relative to the stock market?
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
U.S. Bancorp
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for U.S. Bancorp.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | Excess Returns Model | |
| Stable EPS |
Weighted future Return on Equity estimates from 17 analysts.
= Stable Book Value * Return on Equity = $31.35 * 14.5% |
$4.54 |
| Book Value of Equity per Share | Weighted future Book Value estimates from 17 analysts. | $31.35 |
| Discount Rate (Cost of Equity) | See below | 8.6% |
| Perpetual Growth Rate | 10-Year US Government Bond Rate | 2.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 6% |
| Banks Unlevered Beta | Simply Wall St/ S&P Global | 0.64 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.637 (1 + (1- 21%) (69.88%)) |
0.992 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.99 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.992 * 5.96%) |
8.64% |
Discounted Cash Flow Calculation for NYSE:USB using Excess Returns Model Model
The calculations below outline how an intrinsic value for U.S. Bancorp is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.
In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.
The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.
Note the calculations below are per share.
See our documentation to learn about this calculation.
| Calculation | Result | |
|---|---|---|
| Excess Returns |
= (Stable Return on equity – Cost of equity) (Book Value of
Equity per share)
= (14.5% – 8.64%) * $31.35) |
$1.83 |
| Terminal Value of Excess Returns |
= Excess Returns / (Cost of Equity -
Expected Growth Rate)
= $1.83 / (8.64% - 2.73%) |
$31.00 |
| Value of Equity |
= Book Value per share + Terminal Value of
Excess Returns
= $31.35 + $31.00 |
$62.35 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $62.35 |
| Current discount | Discount to share price of
$50.37
= -1 x ($50.37 - $62.35) / $62.35 |
19.2% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- U.S. Bancorp's share price is below the future cash flow value, but not at a moderate discount (< 20%).
- U.S. Bancorp's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for U.S. Bancorp's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
U.S. Bancorp's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in USD | $4.15 |
| NYSE:USB Share Price ** | NYSE (2019-03-20) in USD | $50.37 |
| United States of America Banks Industry PE Ratio | Median Figure of 587 Publicly-Listed Banks Companies | 13.22x |
| United States of America Market PE Ratio | Median Figure of 3,058 Publicly-Listed Companies | 17.69x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of U.S. Bancorp.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NYSE:USB Share Price ÷ EPS (both in USD) = 50.37 ÷ 4.15 |
12.13x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- U.S. Bancorp is good value based on earnings compared to the US Banks industry average.
- U.S. Bancorp is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does
U.S. Bancorp's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 12.13x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts |
1.8%per year |
| United States of America Banks Industry PEG Ratio | Median Figure of 260 Publicly-Listed Banks Companies | 1.21x |
| United States of America Market PEG Ratio | Median Figure of 2,103 Publicly-Listed Companies | 1.48x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 12.13x ÷ 1.8% |
6.88x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- U.S. Bancorp is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
U.S. Bancorp's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in USD | $28.01 |
| NYSE:USB Share Price * | NYSE (2019-03-20) in USD | $50.37 |
| United States of America Banks Industry PB Ratio | Median Figure of 592 Publicly-Listed Banks Companies | 1.24x |
| United States of America Market PB Ratio | Median Figure of 5,156 Publicly-Listed Companies | 1.89x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NYSE:USB Share Price ÷ Book Value per Share (both in USD) = 50.37 ÷ 28.01 |
1.8x |
* Primary Listing of U.S. Bancorp.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- U.S. Bancorp is overvalued based on assets compared to the US Banks industry average.
Value checks
We assess U.S. Bancorp's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check) U.S. Bancorp has a total score of 2/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
Future Performance
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- U.S. Bancorp's earnings growth is positive but not above the low risk savings rate of 2.7%.
Growth vs Market Checks
- U.S. Bancorp's earnings growth is positive but not above the United States of America market average.
- U.S. Bancorp's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NYSE:USB Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts | 1.8% |
| NYSE:USB Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 17 Analysts | 6.9% |
| United States of America Banks Industry Earnings Growth Rate | Market Cap Weighted Average | 4.5% |
| United States of America Banks Industry Revenue Growth Rate | Market Cap Weighted Average | 5.4% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 14.3% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.1% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 17 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 6,894 | |||
| 2020-12-31 | 23,921 | 7,089 | 12 | |
| 2019-12-31 | 23,098 | 6,885 | 12 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 20,813 | 10,564 | 6,784 |
| 2018-09-30 | 20,695 | 7,745 | 6,618 |
| 2018-06-30 | 20,489 | 6,382 | 6,371 |
| 2018-03-31 | 20,246 | 4,716 | 6,123 |
| 2017-12-31 | 19,883 | 6,472 | 5,913 |
| 2017-09-30 | 19,725 | 8,739 | 5,693 |
| 2017-06-30 | 19,576 | 7,431 | 5,642 |
| 2017-03-31 | 19,602 | 7,265 | 5,647 |
| 2016-12-31 | 19,211 | 5,336 | 5,589 |
| 2016-09-30 | 19,145 | 5,769 | 5,602 |
| 2016-06-30 | 18,950 | 8,069 | 5,590 |
| 2016-03-31 | 18,586 | 8,292 | 5,572 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 17 Analyst Estimates (S&P Global) | See Below |
All data from U.S. Bancorp Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 4.61 | 4.69 | 4.50 | 3.00 |
| 2020-12-31 | 4.61 | 4.91 | 4.40 | 22.00 |
| 2019-12-31 | 4.33 | 4.56 | 4.24 | 22.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2018-12-31 | 4.15 |
| 2018-09-30 | 4.02 |
| 2018-06-30 | 3.85 |
| 2018-03-31 | 3.67 |
| 2017-12-31 | 3.53 |
| 2017-09-30 | 3.37 |
| 2017-06-30 | 3.32 |
| 2017-03-31 | 3.31 |
| 2016-12-31 | 3.25 |
| 2016-09-30 | 3.24 |
| 2016-06-30 | 3.21 |
| 2016-03-31 | 3.18 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess U.S. Bancorp's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
U.S. Bancorp has a total score of 0/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
Past Performance
How has U.S. Bancorp performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- U.S. Bancorp's year on year earnings growth rate has been positive over the past 5 years.
- U.S. Bancorp's 1-year earnings growth exceeds its 5-year average (14.7% vs 3.2%)
- U.S. Bancorp's earnings growth has not exceeded the US Banks industry average in the past year (14.7% vs 43.2%).
Earnings and Revenue History
All data from U.S. Bancorp Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 20,813.00 | 6,784.00 | 10,594.00 | |
| 2018-09-30 | 20,695.00 | 6,618.00 | 10,725.00 | |
| 2018-06-30 | 20,489.00 | 6,371.00 | 10,570.00 | |
| 2018-03-31 | 20,246.00 | 6,123.00 | 10,402.00 | |
| 2017-12-31 | 19,883.00 | 5,913.00 | 10,086.00 | |
| 2017-09-30 | 19,725.00 | 5,693.00 | 9,798.00 | |
| 2017-06-30 | 19,576.00 | 5,642.00 | 9,738.00 | |
| 2017-03-31 | 19,602.00 | 5,647.00 | 9,661.00 | |
| 2016-12-31 | 19,211.00 | 5,589.00 | 9,333.00 | |
| 2016-09-30 | 19,145.00 | 5,602.00 | 9,336.00 | |
| 2016-06-30 | 18,950.00 | 5,590.00 | 9,199.00 | |
| 2016-03-31 | 18,586.00 | 5,572.00 | 9,036.00 | |
| 2015-12-31 | 18,524.00 | 5,608.00 | 8,938.00 | |
| 2015-09-30 | 18,474.00 | 5,624.00 | 8,893.00 | |
| 2015-06-30 | 18,260.00 | 5,607.00 | 8,730.00 | |
| 2015-03-31 | 18,351.00 | 5,617.00 | 8,617.00 | |
| 2014-12-31 | 18,197.00 | 5,583.00 | 8,538.00 | |
| 2014-09-30 | 17,895.00 | 5,552.00 | 8,456.00 | |
| 2014-06-30 | 17,776.00 | 5,547.00 | 8,420.00 | |
| 2014-03-31 | 17,472.00 | 5,525.00 | 8,398.00 | |
| 2013-12-31 | 17,401.00 | 5,552.00 | 8,356.00 | |
| 2013-09-30 | 17,158.00 | 5,512.00 | 8,337.00 | |
| 2013-06-30 | 17,415.00 | 5,516.00 | 8,349.00 | |
| 2013-03-31 | 17,656.00 | 5,456.00 | 8,290.00 | |
| 2012-12-31 | 17,659.00 | 5,383.00 | 8,225.00 | |
| 2012-09-30 | 17,715.00 | 5,348.00 | 8,139.00 | |
| 2012-06-30 | 17,155.00 | 5,181.00 | 7,995.00 | |
| 2012-03-31 | 16,444.00 | 5,003.00 | 7,866.00 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- U.S. Bancorp has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- U.S. Bancorp used its assets more efficiently than the US Banks industry average last year based on Return on Assets.
- Unable to establish if U.S. Bancorp improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
Past performance checks
We assess U.S. Bancorp's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
U.S. Bancorp has a total score of 3/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
Health
This company is a bank or financial institution.Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Balance sheet
Assets
Liabilities and shares
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from U.S. Bancorp Company Filings, last reported 2 months ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 51,657.00 | 56,328.00 | 19,421.00 |
| 2018-09-30 | 51,007.00 | 65,831.00 | 21,057.00 |
| 2018-06-30 | 50,257.00 | 56,319.00 | 20,024.00 |
| 2018-03-31 | 49,812.00 | 51,828.00 | 20,555.00 |
| 2017-12-31 | 49,666.00 | 50,147.00 | 18,235.00 |
| 2017-09-30 | 49,351.00 | 51,538.00 | 22,220.00 |
| 2017-06-30 | 48,949.00 | 53,288.00 | 30,473.00 |
| 2017-03-31 | 48,433.00 | 49,372.00 | 22,015.00 |
| 2016-12-31 | 47,933.00 | 48,960.00 | 14,691.00 |
| 2016-09-30 | 48,399.00 | 56,041.00 | 26,603.00 |
| 2016-06-30 | 48,029.00 | 58,109.00 | 17,420.00 |
| 2016-03-31 | 47,393.00 | 60,666.00 | 13,526.00 |
| 2015-12-31 | 46,817.00 | 61,057.00 | 10,387.00 |
| 2015-09-30 | 45,767.00 | 60,796.00 | 12,248.00 |
| 2015-06-30 | 45,231.00 | 62,889.00 | 19,308.00 |
| 2015-03-31 | 44,965.00 | 64,643.00 | 15,760.00 |
| 2014-12-31 | 44,168.00 | 63,025.00 | 9,852.00 |
| 2014-09-30 | 43,829.00 | 61,458.00 | 7,007.00 |
| 2014-06-30 | 43,386.00 | 55,486.00 | 13,571.00 |
| 2014-03-31 | 42,743.00 | 54,980.00 | 8,222.00 |
| 2013-12-31 | 41,807.00 | 48,182.00 | 7,482.00 |
| 2013-09-30 | 41,552.00 | 45,400.00 | 12,588.00 |
| 2013-06-30 | 41,050.00 | 46,841.00 | 8,079.00 |
| 2013-03-31 | 40,847.00 | 53,032.00 | 8,173.00 |
| 2012-12-31 | 40,267.00 | 52,452.00 | 7,940.00 |
| 2012-09-30 | 39,825.00 | 55,070.00 | 11,204.00 |
| 2012-06-30 | 38,874.00 | 61,017.00 | 17,023.00 |
| 2012-03-31 | 36,914.00 | 58,305.00 | 10,990.00 |
BANK ANALYSIS
This company is a bank or financial institution, which is analysed accordingly below.
- U.S. Bancorp has an acceptable proportion of non-loan assets held.
- U.S. Bancorp's liabilities are made up of primarily low risk sources of funding.
- Loans at U.S. Bancorp are broadly funded by customer deposits.
- U.S. Bancorp's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
- U.S. Bancorp has a sufficient allowance for bad loans.
- U.S. Bancorp has an acceptable level of bad loans (less than 2%).
Financial health checks
We assess U.S. Bancorp's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) U.S. Bancorp has a total score of 6/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
Dividends
What is U.S. Bancorp's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
$2,000 of
U.S. Bancorp
shares you are expected to receive
$59
in your first year as a dividend.
Dividend Amount
- U.S. Bancorp's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
- U.S. Bancorp's dividend is below the markets top 25% of dividend payers in United States of America (3.64%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 17 Analyst Estimates (S&P Global) | See Below |
| United States of America Banks Industry Average Dividend Yield | Market Cap Weighted Average of 470 Stocks | 2.8% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 2004 Stocks | 2.5% |
| United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.8% |
| United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.4% |
| United States of America Top 25% Dividend Yield | 75th Percentile | 3.6% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2021-12-31 | 1.87 | 5.00 |
| 2020-12-31 | 1.76 | 21.00 |
| 2019-12-31 | 1.58 | 22.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-03-19 | 1.480 | 2.850 |
| 2018-12-18 | 1.480 | 2.987 |
| 2018-09-18 | 1.480 | 2.815 |
| 2018-08-02 | 1.480 | 2.755 |
| 2018-07-18 | 1.480 | 2.845 |
| 2018-06-19 | 1.200 | 2.366 |
| 2018-03-19 | 1.200 | 2.361 |
| 2017-12-19 | 1.200 | 2.178 |
| 2017-09-19 | 1.200 | 2.234 |
| 2017-06-20 | 1.120 | 2.152 |
| 2017-03-21 | 1.120 | 2.170 |
| 2016-12-19 | 1.120 | 2.105 |
| 2016-09-19 | 1.120 | 2.432 |
| 2016-06-15 | 1.020 | 2.427 |
| 2016-03-15 | 1.020 | 2.449 |
| 2015-12-15 | 1.020 | 2.530 |
| 2015-09-15 | 1.020 | 2.407 |
| 2015-06-16 | 1.020 | 2.328 |
| 2015-03-03 | 0.980 | 2.240 |
| 2014-12-09 | 0.980 | 2.231 |
| 2014-09-16 | 0.980 | 2.311 |
| 2014-06-17 | 0.980 | 2.313 |
| 2014-05-07 | 0.980 | 2.346 |
| 2014-04-16 | 0.980 | 2.422 |
| 2014-03-12 | 0.920 | 2.184 |
| 2013-12-10 | 0.920 | 2.272 |
| 2013-09-17 | 0.920 | 2.436 |
| 2013-06-18 | 0.920 | 2.500 |
| 2013-03-14 | 0.780 | 2.291 |
| 2012-12-11 | 0.780 | 2.348 |
| 2012-09-18 | 0.780 | 2.353 |
| 2012-06-19 | 0.780 | 2.365 |
| 2012-03-13 | 0.780 | 2.499 |
| 2011-12-13 | 0.500 | 1.766 |
| 2011-09-20 | 0.500 | 2.016 |
| 2011-06-22 | 0.500 | 2.101 |
| 2011-03-18 | 0.500 | 1.966 |
| 2010-12-14 | 0.200 | 0.738 |
| 2010-09-21 | 0.200 | 0.842 |
| 2010-06-15 | 0.200 | 0.875 |
| 2010-03-16 | 0.200 | 0.782 |
| 2009-12-08 | 0.200 | 0.835 |
| 2009-09-15 | 0.200 | 0.862 |
| 2009-06-16 | 0.200 | 1.013 |
| 2009-03-23 | 0.200 | 1.138 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been stable in the past 10 years.
- Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of
U.S. Bancorp's earnings are
paid
to the shareholders as a dividend.
- Dividends paid are well covered by earnings (3.1x coverage).
- Dividends after 3 years are expected to be well covered by earnings (2.6x coverage).
Income/ dividend checks
We assess U.S. Bancorp's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can U.S. Bancorp afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) U.S. Bancorp has a total score of 5/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| COMPENSATION | $13,437,128 |
| AGE | 57 |
| TENURE AS CEO | 1.9 years |
CEO Bio
Mr. Andrew Cecere, also known as Andy, has been the Chief Executive Officer and President of U.S. Bancorp and U.S. Bank National Association since April 18, 2017 and January 19, 2016. Mr. Cecere served as Chief Operating Officer at U.S. Bancorp and U.S. Bank National Association from January 2015 to April 18, 2017. He served as the Vice Chairman of U.S. Bancorp and US Bank NA since February 27, 2007 until January 19, 2016. He served as the Chief Financial Officer and Chairman at U.S. Bancorp Asset Management, Inc. Mr. Cecere has been the Chief Financial Officer and Vice Chairman of US BanCorp. (DE) at U.S. BanCorp. Equipment Finance, Inc. since February 27, 2007. He has been the Chief Operating Officer of U.S. Bank since January 20, 2015. He served as Chief Financial Officer of U.S. Bancorp from February 27, 2007 to January 2015. Prior to this, he served as a Senior Vice President of Finance at U.S. Bank from 1992 to February 27, 2007. From February 2001 to February 2007, he was responsible for Wealth Management & Securities Services. has over 30 years of experience with U.S. Bancorp, including serving as Vice Chairman of Wealth Management and leading key banking, trust, insurance, and advisory businesses. He served as the Vice Chairman of Asset Management at US BanCorp. from November 2001 to February 27, 2007 and also served as its Vice Chairman of Private Client and Trust from February 2001 to February 27, 2007. He has been with US Bank since 1985. He served as the Vice Chairman of U.S. Bank with responsibility for Commercial Services from 1999 to 2001. From 1985 to 2001, Mr. Cecere held various senior financial executive positions at US BanCorp. and its predecessors, including Chief Financial Officer from May 2000 to February 2001 and Vice Chairman for corporate trust and leasing business lines and manager of treasury management, international banking and government banking functions from 1999 to 2000. He has been Director of US BanCorp. since February 2007. He has been an Independent Director of Donaldson Company, Inc. since September 27, 2013. He has been a Director of U.S. Bank National Association and U.S. Bancorp since January 16, 2017. He serves as a Director of DeCare Dental, LLC. Mr. Cecere serves as a Director of the Greater Twin Cities United Way, Capital City Partnership, DeCare International and Delta Dental of Minnesota. He serves on the board of overseers of the Carlson School of Management at the University of Minnesota. He has been the Chairman of U.S. Bancorp. since 2018. He served as a Director of Fair Isaac Corp. from April 2004 to January 2007. Mr. Cecere holds an MBA in finance from the University of Minnesota and a Bachelor's Degree from the University of St. Thomas.
CEO Compensation
- Andy's compensation has been consistent with company performance over the past year.
- Andy's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure
Average tenure and age of the U.S. Bancorp management team in years:
- The tenure for the U.S. Bancorp management team is about average.
Management Team
Andy Cecere
Chairman
$13M
57
1.9 yrs
Terry Dolan
Vice Chairman & CFO
$5M
56
2.6 yrs
Jeffry von Gillern
Vice Chairman of Technology & Operations Services
$4M
52
Shailesh Kotwal
Vice Chairman of Payment Services
$3M
53
4 yrs
Gunjan Kedia
Vice Chairman of Wealth Management & Investment Services
$3M
47
1.2 yrs
Eric Freedman
Chief Investment Officer
2.4 yrs
Katherine Quinn
Vice Chairman & Chief Administrative Officer
53
1.9 yrs
Jen Thompson
Executive Vice President of Investor Relations
Jim Chosy
Executive VP & General Counsel
54
6 yrs
Larry Otto
Market President
63
3.7 yrs
Board of Directors Tenure
Average tenure and age of the U.S. Bancorp board of directors in years:
- The tenure for the U.S. Bancorp board of directors is about average.
Board of Directors
Jeff Jones
Member of the Advisory Board & President of Corporate Payment Systems for U.S. Bank
56
Art Collins
Director
$348K
70
23.2 yrs
Andy Cecere
Chairman
$13M
57
0.9 yrs
Olivia Kirtley
Director
$365K
67
12.4 yrs
Roland Hernandez
Director
$366K
60
7.2 yrs
Scott Wine
Director
$353K
51
4.7 yrs
Warner Baxter
Director
$358K
56
3.3 yrs
David O'Maley
Lead Director
$391K
71
2.2 yrs
O'dell Owens
Director
$342K
70
28.2 yrs
Craig Schnuck
Director
$334K
69
17.2 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 16. Nov 18 | Sell | David O'Maley | Individual | 14. Nov 18 | 14. Nov 18 | -10,902 | $53.66 | $-585,001 | ||
| 15. Nov 18 | Sell | John Elmore | Individual | 13. Nov 18 | 13. Nov 18 | -19,418 | $53.59 | $-1,040,611 | ||
| 26. Oct 18 | Sell | Jeffry von Gillern | Individual | 24. Oct 18 | 24. Oct 18 | -4,000 | $50.81 | $-203,240 | ||
| 22. Oct 18 | Sell | Terrance Dolan | Individual | 18. Oct 18 | 18. Oct 18 | -15,524 | $52.91 | $-821,375 | ||
| 15. Aug 18 | Sell | Jeffry von Gillern | Individual | 19. Jul 18 | 19. Jul 18 | -14,229 | $51.34 | $-730,517 | ||
Management checks
We assess U.S. Bancorp's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) U.S. Bancorp has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
News
Simply Wall St News
Can These Factors Give You An Edge In U.S. Bancorp (NYSE:USB)?
Bancorp (NYSE:USB) is a large-cap stock operating in the financial services sector with a market cap of US$82b. … As major financial institutions return to health after the Global Financial Crisis, we are seeing an increase in market confidence, and understanding of, these “too-big-to-fail” banking stocks. … The Basel III reforms are aimed at banking regulations to improve financial institutions’ ability to absorb shocks caused by economic stress which could expose banks to vulnerabilities.
Simply Wall St - – Full articleThe U.S. Bancorp Share Price Is Up 26% And Shareholders Are Holding On
Bancorp (NYSE:USB) share price. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … Bancorp was able to grow its EPS at 9.3% per year over three years, sending the share price higher.
Simply Wall St - – Full articleShould You Be Concerned About U.S. Bancorp’s (NYSE:USB) Risks?
Growth stimulates demand for loans and impacts a borrower’s ability to repay which directly affects the level of risk U.S. … With stricter regulations as a consequence of the recession, banks are more conservative in their lending practices, leading to more prudent levels of risky assets on the balance sheet. … The level of risky assets a bank holds on its accounts affects the attractiveness of the company as an investment.
Simply Wall St - – Full articleWhy U.S. Bancorp (NYSE:USB) Could Be Worth Watching
saw a decent share price growth in the teens level on the NYSE over the last few months. … As a large-cap stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock
Simply Wall St - – Full articleUS Bancorp (NYSE:USB): Commentary On Fundamentals
Looking at the company as a whole, as a potential stock investment, I believe USB has a lot to offer. … is a company with great financial health as well as a. … If you're interested in understanding beyond my high-level commentary,
Simply Wall St - – Full articleHave Investors Priced In US Bancorp's (NYSE:USB) Growth?
Today we're going to take a look at the well-established US Bancorp (NYSE:USB). … saw its share price hover around a small range of $48.86 to $53.01 over the last few weeks? … Bancorp’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change
Simply Wall St - – Full articleShould You Expect US Bancorp (NYSE:USB) To Continue Delivering An ROE Of 12.95%?
and want to start learning about core concepts of fundamental analysis on practical examples from today's market. … US Bancorp (NYSE:USB) outperformed the diversified banks industry on the basis of its ROE – producing a higher 12.95% relative to the peer average of 8.45% over the past 12 months. … Sustainability can be gauged by a company’s financial leverage – the more debt it has, the higher ROE is pumped up in the short term, at the expense of long term interest payment burden.
Simply Wall St - – Full articleShould US Bancorp (NYSE:USB) Be Part Of Your Dividend Portfolio?
Dividends play a key role in compounding returns over time and can form a large part of our portfolio return. … Over the past 10 years, US Bancorp (NYSE:USB) has returned an average of 2.00% per year to shareholders in terms of dividend yield. … Should it have a place in your portfolio?
Simply Wall St - – Full articleUnderstated Factors To Consider Before Investing In US Bancorp (NYSE:USB)
US Bancorp (NYSE:USB) is a large-cap stock operating in the financial services sector with a market cap of US$82.80b. … As major financial institutions return to health after the Global Financial Crisis, we are seeing an increase in market confidence, and understanding of, these “too-big-to-fail” banking stocks. … The recovery brought about a new set of reforms, Basel III, which was created to improve regulation, supervision and risk management in the financial services industry.
Simply Wall St - – Full articleShould You Be Concerned About US Bancorp’s (NYSE:USB) Risks?
Large banks such as US Bancorp (NYSE:USB), with a market capitalisation of US$84.83b, have benefited from improving credit quality as a result of post-GFC recovery, leading to a strong growth environment. … As a consequence of the GFC, tighter regulations have led to more conservative lending practices by banks, leading to more prudent levels of risky assets on their balance sheets. … Since the level of risky assets held by a bank impacts its cash flow and therefore the attractiveness of its stock as an investment, I will take you through three metrics that are insightful proxies for risk.
Simply Wall St - – Full articleCompany Info
Description
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. The company offers depository services, including checking accounts, savings accounts, and time certificate contracts; and lending services, such as traditional credit products, as well as credit card services, lease financing and import/export trade, asset-backed lending, agricultural finance, and other products. It also provides ancillary services comprising capital markets, treasury management, and receivable lock-box collection services to corporate customers; and a range of asset management and fiduciary services for individuals, estates, foundations, business corporations, and charitable organizations. In addition, the company offers investment and insurance products to its customers principally within its markets, as well as fund administration services to a range of mutual and other funds. Further, it provides corporate and purchasing card, and corporate trust services; and merchant processing services, as well as cash and investment management, ATM processing, mortgage banking, and brokerage and leasing services. The company offers its products and services through operating a network of 3,018 banking offices principally operating in the Midwest and West regions of the United States, as well as through online services and over mobile devices. It also operates a network of 4,681 ATMs. The company was founded in 1863 and is headquartered in Minneapolis, Minnesota.
Details
| Name: | U.S. Bancorp |
| USB | |
| Exchange: | NYSE |
| Founded: | 1863 |
| $80,605,066,783 | |
| 1,600,259,416 | |
| Website: | http://www.usbank.com |
| Address: |
U.S. Bancorp 800 Nicollet Mall, Minneapolis, Minnesota, 55402, United States |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| NYSE | USB | Common Stock | New York Stock Exchange | US | USD | 02. Jan 1980 | |
| DB | UB5 | Common Stock | Deutsche Boerse AG | DE | EUR | 02. Jan 1980 | |
| LSE | 0LHY | Common Stock | London Stock Exchange | GB | USD | 02. Jan 1980 | |
| SNSE | USB | Common Stock | Santiago Stock Exchange | CL | USD | 02. Jan 1980 | |
| BMV | USB * | Common Stock | Bolsa Mexicana de Valores | MX | MXN | 02. Jan 1980 | |
| NYSE | USB.PRH | PFD B 1/1000DP | New York Stock Exchange | US | USD | 27. Mar 2006 | |
| NYSE | USB.PRM | DEP SHS PFD F | New York Stock Exchange | US | USD | 20. Jan 2012 | |
| NYSE | USB.PRO | PFD 1/1000 PRP H | New York Stock Exchange | US | USD | 02. May 2013 | |
| NYSE | USB.PRP | DEP PERP PFD K | New York Stock Exchange | US | USD | 08. Aug 2018 | |
| BST | UB5B | 5.3%-FRN PERP USD 'J' | Boerse-Stuttgart | DE | USD | 03. Feb 2017 | |
| BOVESPA | USBC34 | EACH BDR REPR 1 COM USD0.01 | Bolsa de Valores de Sao Paulo | BR | BRL | 29. Dec 2014 |
Number of employees
Current staff
Industry
| Diversified Banks | |
| Banks |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/03/20 23:47 |
| End of day share price update: | 2019/03/20 00:00 |
| Last estimates confirmation: | 2019/03/20 |
| Last earnings filing: | 2019/02/22 |
| Last earnings reported: | 2018/12/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
