The company has received accolades for its digital innovation, community efforts, and customer service, including recent recognition as one of the 2024 World's Most Ethical Companies and Fortune's most admired superregional bank. This dividend announcement is based on a press release statement from U.S. Bancorp (BVMF:USBC34). For investors seeking deeper insights, InvestingPro offers additional analysis through its comprehensive Pro Research Report, available as part of its coverage of over 1,400 US equities. For investors seeking deeper insights, InvestingPro offers additional analysis through its comprehensive Pro Research Report, available as part of its coverage of over 1,400 US equities.
In addition to the common stock dividend, dividends on preferred stocks were also declared. Series A Non-Cumulative Perpetual Preferred Stock holders will receive $1,517.364 per share, and Series B Non-Cumulative Perpetual Preferred Stock holders will receive $352.508 per share. Both are payable on the same date as the common stock dividend to shareholders recorded by the end of December 2024.
The company also declared dividends for other preferred stock series, including $343.750 per share for Series K, $234.375 per share for Series L, $250.000 per share for Series M, and $281.250 per share for Series O. Additionally, Series N Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock holders will get $231.250 per share. All preferred dividends follow the same payment and record date schedule as the common stock.
The company has received accolades for its digital innovation, community efforts, and customer service, including recent recognition as one of the 2024 World's Most Ethical Companies and Fortune's most admired superregional bank. This dividend announcement is based on a press release statement from U.S. Bancorp. For investors seeking deeper insights, InvestingPro offers additional analysis through its comprehensive Pro Research Report, available as part of its coverage of over 1,400 US equities. The company has received accolades for its digital innovation, community efforts, and customer service, including recent recognition as one of the 2024 World's Most Ethical Companies and Fortune's most admired superregional bank.
This dividend announcement is based on a press release statement from U.S. Bancorp.
In other recent news, U.S. Bancorp has experienced several significant developments. The company reported robust earnings per share (EPS) of $1.03 in both Q3 and Q4 of 2023, with total net revenue reaching $6.9 billion in Q3 2024. Following these strong results, several financial firms adjusted their price targets for U.S. Bancorp. DA Davidson increased its price target to $54, Oppenheimer to $59, Baird to $54, RBC Capital Markets to $53, and Stephens to $52.
Citi analyst Keith Horowitz upgraded U.S. Bancorp stock from Neutral to Buy, significantly increasing the price target to $65, reflecting a more optimistic outlook on the financial institution's future performance. However, Deutsche Bank (ETR:DBKGn) downgraded the stock from Buy to Hold due to concerns over macroeconomic risks and elevated market valuations, while maintaining a price target of $51.
U.S. Bancorp has undergone significant leadership restructuring, with CFO John Stern (AS:PBHP) now reporting directly to the CEO, Andy Cecere, aligning the company's leadership team with its growth objectives. The company also adjusted its payments business structure in anticipation of Vice Chair of Payment Services Shailesh Kotwal's retirement.
Despite the anticipation of a more relaxed regulatory environment and potential tax reforms, U.S. Bancorp has expressed a clear stance against mergers and acquisitions, focusing instead on organic growth. The company plans to initiate modest share buybacks and continues to invest $2.5 billion annually in technology, including AI initiatives. These are the recent developments for U.S. Bancorp.
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