On September 15, 2023, it was reported that AMF Tjanstepension AB had reduced its stake in U.S. Bancorp (NYSE:USB) by 23.5% during the second quarter. According to the company’s filing with the Securities and Exchange Commission, AMF Tjanstepension AB owned 495,218 shares of U.S. Bancorp’s stock after selling 152,465 shares in that period. The value of AMF Tjanstepension AB’s holdings in U.S. Bancorp at the end of the most recent quarter was estimated to be $16,435,000.
U.S. Bancorp is a renowned financial services provider and this reduction in stake by one of its major shareholders has grabbed attention within the industry. However, it is important to note that investment decisions made by shareholders may not necessarily reflect any negative opinions about the company itself but may be driven by various factors such as changes in investment strategies or market conditions.
In addition to this development, U.S. Bancorp recently announced a quarterly dividend payment scheduled for Monday, October 16th. Shareholders of record on Friday, September 29th will be eligible to receive a dividend of $0.48 per share. This translates into an annualized dividend of $1.92 and a yield of 5.38%. Therefore, investors who hold U.S.Bancorp shares as of the record date will have the opportunity to benefit from this dividend payout.
It is worth mentioning that dividends are an important consideration for many investors when assessing potential investments in stocks. Dividend payments provide regular income streams for shareholders and can also be indicative of a financially stable company capable of distributing profits back to its investors.
The Dividend Payout Ratio (DPR) is a key metric used by investors to assess the sustainability and health of a company’s dividend payments relative to its earnings. In the case of U.S. Bancorp, its current dividend payout ratio stands at 53.19%. This implies that the company is allocating approximately 53.19% of its earnings to shareholder dividends.
In conclusion, AMF Tjanstepension AB’s reduction in stake in U.S. Bancorp and the upcoming dividend payment by the financial services provider are noteworthy events in the market. Investors should consider these factors, alongside other relevant information, when evaluating investment opportunities in U.S. Bancorp or any other financial institution within the sector.
Updated on: 16/09/2023
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|Analyst / firm||Rating|
| Scott Siefers
| Vivek Juneja
| Bill Carcache
| David George
Robert W. Baird
| Gerard Cassidy
Activity from Institutional Investors and Hedge Funds on U.S. Bancorp (NYSE:USB): Analysis, Outlook, and Recommendations
September 15, 2023 – Institutional Investors and Hedge Funds Make Moves on U.S. Bancorp (NYSE:USB)
In recent months, several institutional investors and hedge funds have been actively buying and selling shares of U.S. Bancorp (USB). TAP Consulting LLC acquired a new stake in U.S. Bancorp during the first quarter, amounting to approximately $259,000. Advisor Group Holdings Inc. also increased its stake in U.S. Bancorp by 11.7% during the fourth quarter, now owning 836,343 shares worth $36,489,000 after purchasing an additional 87,888 shares during the period. Furthermore, MCF Advisors LLC saw an 80.8% increase in its stake in U.S. Bancorp during the first quarter, with a total of 4,711 shares valued at $172,000 after acquiring an additional 2,105 shares.
Another institutional investor that boosted its stake in U.S. Bancorp is Venture Visionary Partners LLC with a notable increase of 9.3%, bringing their total ownership to 9,419 shares worth $340,000 after purchasing an additional 800 shares during the period. Lastly, Ascent Wealth Partners LLC demonstrated a significant increase of 50.3% in its stake during the first quarter and now holds 28,603 shares valued at $995,000 after acquiring an additional 9,572 shares.
It is important to note that currently around 75.40% of U.S.Bancorp’s stock is owned by hedge funds and other institutional investors.
According to several equities analysts who recently commented on the company’s performance and prospects for growth; StockNews.com released a research report on August 17th claiming a “sell” rating for U.S.Bancorp.
Similarly ,the Goldman Sachs Group raised their price objective from $34 to $39 with a “neutral” rating on July 20th. DA Davidson also increased their price objective from $39 to $41 and gave the stock a “neutral” rating in a research report on July 24th. Stephens, meanwhile, stated an “overweight” rating and set a $47 price objective on shares of U.S. Bancorp, also releasing their research report on July 24th. Lastly, Wedbush raised their price objective from $35 to $40 and gave the stock a “neutral” rating in their research report also released on July 20th.
When considering these recommendations, it is worth mentioning that analysts have rated the stock with one sell rating, eleven hold ratings, and eleven buy ratings. Bloomberg.com indicates that the average rating for U.S. Bancorp is currently “Hold,” with a median consensus price target of $47.33.
Having opened at $35.72 on Friday, U.S. Bancorp (NYSE:USB) saw its 12-month low at $27.27 and its highest point at $49.95 during the same period. The company maintains a debt-to-equity ratio of 0.97 along with both a current ratio and quick ratio of 0.80.
The business’s recent movement can be analyzed through its 50-day simple moving average standing at $37.18 and its 200-day simple moving average at $35.34.
Additionally ,the company has demonstrated a market capitalization of roughly $54.76 billion alongside a PE ratio of 9.89.
During its most recent quarterly earnings release on July 19th, U.S.Bancorp reported earnings per share (EPS) of $1.12 for the quarter, missing the consensus estimate by ($0.01). Return on equity stood at 16.%3 while net margin remained steady at 16..59%. The financial services provider generated revenue worth $7..17 billion for the same quarter, compared to analysts’ expectations of $7.17 billion. In the previous year’s corresponding period, the company’s EPS stood at $1.09, with U.S.Bancorp showing a 19.7% increase in revenue this year.
Equities analysts are predicting that U.S. Bancorp will post earnings per share of $4.44 for the current year.
In conclusion, U.S. Bancorp has witnessed notable activity from institutional investors and hedge funds in recent months, with various stakeholders increasing their stakes in the financial services provider. The company’s stock performance and outlook have elicited diverse opinions from equities analysts, ranging from sell to buy recommendations. As the market continues to observe U.S. Bancorp’s movements, investors eagerly await its next earnings report to gain further insights into its performance and growth potential.