RTTNews | Jul 15, 2021 01:35PM EDT

13:34 Thursday, July 15, 2021 (RTTNews.com) - Minnesota-based banking company U.S. Bancorp's (USB) shares are up 3% on Thursday after the company reported a strong second-quarter results.

The company reported a net income of $1.9 billion or $1.28 per share against $689 million or $0.41 per share in the same quarter last year. The revenue for the company was $5.78 billion, dropped slightly from $5.83 billion in 2020. The earnings and revenue beat Street view of $1.14 per share and $5.62 billion.

The company also announced an increase of 9.5% in dividends that will be paid in the third quarter.

The shares are currently trading at $58.67, up $1.68 or 2.95% since their previous close at $56.99. The shares opened at $56.63 in the morning and in 52-week period, the shares have moved between $34.17 and $62.47.

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