Vanguard Group Inc. Acquires 1,079,056 Shares of U.S. Bancorp (NYSE:USB)

Vanguard Group Inc. lifted its holdings in shares of U.S. Bancorp (NYSE:USB) by 0.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 138,836,896 shares of the financial services provider’s stock after acquiring an additional 1,079,056 shares during the period. Vanguard Group Inc. owned approximately 8.90% of U.S. Bancorp worth $6,640,569,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in USB. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of U.S. Bancorp by 4.8% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 287,348 shares of the financial services provider’s stock worth $13,140,000 after acquiring an additional 13,165 shares during the period. Intech Investment Management LLC lifted its holdings in U.S. Bancorp by 63.1% during the 3rd quarter. Intech Investment Management LLC now owns 15,284 shares of the financial services provider’s stock valued at $699,000 after purchasing an additional 5,911 shares during the last quarter. Meridian Wealth Management LLC bought a new position in U.S. Bancorp during the 3rd quarter valued at about $443,000. Cerity Partners LLC lifted its holdings in U.S. Bancorp by 17.0% during the 3rd quarter. Cerity Partners LLC now owns 697,059 shares of the financial services provider’s stock valued at $31,881,000 after purchasing an additional 101,264 shares during the last quarter. Finally, Kingsview Wealth Management LLC lifted its holdings in U.S. Bancorp by 3.8% during the 3rd quarter. Kingsview Wealth Management LLC now owns 82,499 shares of the financial services provider’s stock valued at $3,773,000 after purchasing an additional 3,013 shares during the last quarter. 77.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on USB shares. Bank of America dropped their price target on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Compass Point increased their price objective on shares of U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target on the stock in a research note on Monday, January 13th. Truist Financial started coverage on shares of U.S. Bancorp in a research note on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price target on the stock. Finally, Morgan Stanley reduced their price target on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.93.

Insider Activity

In other U.S. Bancorp news, EVP James L. Chosy sold 21,451 shares of U.S. Bancorp stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the transaction, the executive vice president now directly owns 198,127 shares of the company’s stock, valued at $9,440,751.55. The trade was a 9.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Cecere sold 102,044 shares of U.S. Bancorp stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the transaction, the chief executive officer now directly owns 1,230,316 shares in the company, valued at $58,132,431. This represents a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock worth $10,385,665 in the last quarter. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Stock Up 0.4 %

U.S. Bancorp stock opened at $42.77 on Monday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98. The firm has a 50 day moving average price of $46.31 and a two-hundred day moving average price of $47.65. The firm has a market cap of $66.63 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 1.73 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The firm had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. During the same quarter last year, the business earned $0.99 EPS. The company’s revenue was up 3.7% compared to the same quarter last year. Equities analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.68%. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.