30 Growing Dividend Stocks with Low PE Ratios

2. U.S. Bancorp (NYSE:USB)

Forward P/E Ratio as of April 22: 8.67

U.S. Bancorp (NYSE:USB) is an American bank holding company, headquartered in Minnesota. The company provides a wide range of financial services, including commercial and consumer banking, payment processing, wealth management, and investment solutions.

In the first quarter of 2025, U.S. Bancorp (NYSE:USB) reported revenue of $6.93 billion, which showed a 3.7% growth from the same period last year. The revenue also beat analysts’ estimates by $18.6 million. The company’s net income for the quarter came in at $1.7 billion. The net interest margin was 2.72%, reflecting a 2 basis point increase year-over-year and a 1 basis point rise from the previous quarter. The CET1 capital ratio stood at 10.8% as of March 31, 2025, up from 10.6% at December 31, 2024. Average total loans grew by 2.1% compared to the previous year and by 0.9% compared to the prior quarter.

On March 11, U.S. Bancorp (NYSE:USB) declared a quarterly dividend of $0.50 per share, which was consistent with its previous dividend. Overall, the company has been rewarding shareholders with growing dividends for the past 14 years. The stock supports a dividend yield of 5.13%, as of April 22.