Brandywine Global Investment Management LLC Invests $20.12 Million in U.S. Bancorp (NYSE:USB)

Brandywine Global Investment Management LLC purchased a new position in shares of U.S. Bancorp (NYSE:USB) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 420,638 shares of the financial services provider’s stock, valued at approximately $20,119,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. J.Safra Asset Management Corp acquired a new position in shares of U.S. Bancorp during the fourth quarter valued at approximately $26,000. Winch Advisory Services LLC increased its position in shares of U.S. Bancorp by 1,088.9% during the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 490 shares in the last quarter. FPC Investment Advisory Inc. acquired a new position in U.S. Bancorp in the 4th quarter valued at $28,000. Global Wealth Strategies & Associates lifted its holdings in U.S. Bancorp by 70.8% in the 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 250 shares in the last quarter. Finally, Stonebridge Financial Group LLC acquired a new stake in U.S. Bancorp during the 4th quarter worth $30,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Bank of America reduced their target price on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Monday, March 17th. Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price on the stock in a research note on Monday, January 13th. Morgan Stanley dropped their price target on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Citigroup reduced their price objective on U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Finally, Truist Financial assumed coverage on U.S. Bancorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $54.00 price objective on the stock. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.21.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $46.96, for a total value of $3,114,246.32. Following the sale, the insider now owns 209,482 shares of the company’s stock, valued at $9,837,274.72. This trade represents a 24.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jodi L. Richard sold 30,000 shares of U.S. Bancorp stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $47.59, for a total value of $1,427,700.00. Following the completion of the transaction, the insider now owns 99,790 shares of the company’s stock, valued at $4,749,006.10. The trade was a 23.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 219,812 shares of company stock worth $10,385,665 over the last 90 days. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Down 2.4 %

Shares of NYSE USB opened at $42.21 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The firm has a market cap of $65.77 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 1.73 and a beta of 1.02. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98. The business’s 50 day moving average is $45.74 and its two-hundred day moving average is $47.59.

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

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 4.74%. U.S. Bancorp’s dividend payout ratio is presently 52.77%.

About U.S. Bancorp

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.