U.S. Bancorp (NYSE:USB) announces quarterly dividend

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Dallas, Texas 10/04/2013 (Financialstrend) – Last month’s no taper for now decision of the FED caught a lot of Regional banks sitting on their haunches hoping for the taper to set in and in turn benefit from the potential increase in interest rates.  In the past 20 days since the FED September 18 decision became public, stock of regional banks have fallen further with short lived rallies interspersed between long sell off sessions.

U.S. Bancorp (NYSE:USB) has been one of the less impacted banks which have managed to shrug of the no taper decision and moved on. This is primarily due to it not being completely depended on asset driven loan book.   It in fact just lost 0.4% of its value on September 19, when rest of the banking sector players were really reeling at the stock market.

The stock is trading at $36.35 per share as of October 3, which is down 0.11% from its previous day close. This represents a 4.3% dip from its 52 week high valuation. Over the past week, the stock has depreciated by 0.52% but is one of the few banking stocks which has managed to end last month trading being on the green with an appreciation of 1.25%.

U.S. Bancorp declared a quarterly dividend of $0.23 dividend per share on September 17. This payout is the same as its previous quarter payout. This translates to a forward yield 2.53%. This quarter payout will be paid out on October 15 to all shareholders on record as of September 30. The stock will go ex-dividend on September 26.

This S&P 500 tracked banking major has an exhaustive market cap of $66.99 billion with an income of $5.52 billion over the past 12 months. Over the past 12 months the stock has gained close to 9.2% and has an analyst target price of $39.87.

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