American Assets Investment Management LLC lifted its position in U.S. Bancorp (NYSE:USB – Free Report) by 22.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 270,000 shares of the financial services provider’s stock after acquiring an additional 50,000 shares during the period. U.S. Bancorp accounts for approximately 1.0% of American Assets Investment Management LLC’s investment portfolio, making the stock its 27th biggest holding. American Assets Investment Management LLC’s holdings in U.S. Bancorp were worth $8,926,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. Nemes Rush Group LLC acquired a new stake in shares of U.S. Bancorp in the second quarter worth $25,000. Legacy Financial Group LLC acquired a new stake in U.S. Bancorp during the 3rd quarter worth about $30,000. Compass Wealth Management LLC acquired a new stake in U.S. Bancorp during the 4th quarter worth about $39,000. Union Savings Bank purchased a new position in shares of U.S. Bancorp during the 2nd quarter valued at about $37,000. Finally, Newbridge Financial Services Group Inc. lifted its holdings in shares of U.S. Bancorp by 73.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 962 shares of the financial services provider’s stock valued at $32,000 after buying an additional 406 shares during the period. 75.40% of the stock is owned by institutional investors and hedge funds.
U.S. Bancorp Trading Up 0.4 %
NYSE USB traded up $0.17 on Friday, reaching $41.06. 8,688,508 shares of the company were exchanged, compared to its average volume of 9,826,348. The business’s fifty day moving average price is $41.88 and its 200 day moving average price is $37.68. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $63.93 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 2.10 and a beta of 1.04. U.S. Bancorp has a fifty-two week low of $27.27 and a fifty-two week high of $49.80.
U.S. Bancorp (NYSE:USB – Get Free Report) last posted its earnings results on Wednesday, January 17th. The financial services provider reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.28. The company had revenue of $6.76 billion for the quarter, compared to analyst estimates of $6.85 billion. U.S. Bancorp had a net margin of 13.36% and a return on equity of 14.89%. U.S. Bancorp’s revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.20 EPS. Analysts forecast that U.S. Bancorp will post 3.95 earnings per share for the current year.
U.S. Bancorp Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 4.77%. The ex-dividend date was Thursday, December 28th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.48. U.S. Bancorp’s dividend payout ratio is 59.76%.
Analyst Ratings Changes
Several research analysts recently weighed in on the company. The Goldman Sachs Group lifted their price target on U.S. Bancorp from $37.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, December 19th. Odeon Capital Group raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $48.93 target price for the company in a report on Thursday, December 14th. Piper Sandler reissued a “neutral” rating on shares of U.S. Bancorp in a report on Friday, January 26th. Oppenheimer lifted their price objective on shares of U.S. Bancorp from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, TheStreet raised shares of U.S. Bancorp from a “c+” rating to a “b-” rating in a research note on Tuesday, December 26th. Thirteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, U.S. Bancorp presently has a consensus rating of “Hold” and a consensus target price of $45.35.
Check Out Our Latest Report on U.S. Bancorp
Insider Activity
In other U.S. Bancorp news, insider Shailesh M. Kotwal sold 2,954 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $39.56, for a total value of $116,860.24. Following the transaction, the insider now owns 119,768 shares of the company’s stock, valued at $4,738,022.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other U.S. Bancorp news, insider Shailesh M. Kotwal sold 2,046 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $40.34, for a total transaction of $82,535.64. Following the sale, the insider now directly owns 112,722 shares in the company, valued at approximately $4,547,205.48. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Shailesh M. Kotwal sold 2,954 shares of the stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $39.56, for a total value of $116,860.24. Following the completion of the sale, the insider now owns 119,768 shares in the company, valued at $4,738,022.08. The disclosure for this sale can be found here. Insiders have sold a total of 66,439 shares of company stock valued at $2,865,224 in the last quarter. Insiders own 0.24% of the company’s stock.
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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.
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