Tweedy Browne Co LLC reduced its stake in shares of U.S. Bancorp (NYSE:USB – Free Report) by 10.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 285,613 shares of the financial services provider’s stock after selling 32,625 shares during the quarter. U.S. Bancorp makes up 0.5% of Tweedy Browne Co LLC’s holdings, making the stock its 27th largest position. Tweedy Browne Co LLC’s holdings in U.S. Bancorp were worth $9,442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC increased its position in U.S. Bancorp by 130,768.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 60,273,882 shares of the financial services provider’s stock valued at $2,628,544,000 after buying an additional 60,227,825 shares in the last quarter. Mufg Bank LTD. increased its position in U.S. Bancorp by 54.1% during the 3rd quarter. Mufg Bank LTD. now owns 68,374,155 shares of the financial services provider’s stock valued at $2,260,450,000 after buying an additional 24,000,000 shares in the last quarter. Norges Bank acquired a new position in U.S. Bancorp during the 4th quarter valued at about $644,436,000. BlackRock Inc. increased its position in U.S. Bancorp by 6.0% during the 2nd quarter. BlackRock Inc. now owns 110,704,962 shares of the financial services provider’s stock valued at $3,657,692,000 after buying an additional 6,307,085 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in shares of U.S. Bancorp by 58.1% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 16,116,140 shares of the financial services provider’s stock valued at $532,477,000 after purchasing an additional 5,922,710 shares during the period. 75.40% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at U.S. Bancorp
In other news, insider Shailesh M. Kotwal sold 2,046 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $40.34, for a total transaction of $82,535.64. Following the sale, the insider now owns 112,722 shares of the company’s stock, valued at approximately $4,547,205.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Shailesh M. Kotwal sold 2,046 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $40.34, for a total transaction of $82,535.64. Following the sale, the insider now owns 112,722 shares of the company’s stock, valued at approximately $4,547,205.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shailesh M. Kotwal sold 2,954 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $39.56, for a total value of $116,860.24. Following the sale, the insider now directly owns 119,768 shares in the company, valued at approximately $4,738,022.08. The disclosure for this sale can be found here. Insiders have sold 66,439 shares of company stock valued at $2,865,224 in the last quarter. 0.24% of the stock is currently owned by corporate insiders.
U.S. Bancorp Stock Performance
NYSE USB traded up $0.48 on Wednesday, hitting $40.41. 3,255,997 shares of the company’s stock were exchanged, compared to its average volume of 9,660,063. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.81. The firm’s 50-day moving average price is $42.22 and its two-hundred day moving average price is $37.79. U.S. Bancorp has a fifty-two week low of $27.27 and a fifty-two week high of $49.11. The firm has a market cap of $62.92 billion, a price-to-earnings ratio of 12.28, a P/E/G ratio of 2.09 and a beta of 1.04.
U.S. Bancorp (NYSE:USB – Get Free Report) last released its earnings results on Wednesday, January 17th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.28. U.S. Bancorp had a return on equity of 14.89% and a net margin of 13.36%. The company had revenue of $6.76 billion for the quarter, compared to analysts’ expectations of $6.85 billion. During the same quarter in the previous year, the firm posted $1.20 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. On average, research analysts expect that U.S. Bancorp will post 3.93 EPS for the current year.
U.S. Bancorp Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were paid a dividend of $0.49 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, December 28th. This represents a $1.96 annualized dividend and a dividend yield of 4.85%. U.S. Bancorp’s payout ratio is 59.76%.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on USB shares. The Goldman Sachs Group increased their price objective on U.S. Bancorp from $37.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, December 19th. Barclays increased their price objective on U.S. Bancorp from $48.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Odeon Capital Group upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $48.93 target price on the stock in a research note on Thursday, December 14th. Morgan Stanley upped their target price on U.S. Bancorp from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 30th. Finally, Piper Sandler restated a “neutral” rating on shares of U.S. Bancorp in a research note on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, U.S. Bancorp has a consensus rating of “Hold” and an average target price of $45.35.
Check Out Our Latest Report on U.S. Bancorp
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 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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