OMERS ADMINISTRATION Corp purchased a new stake in U.S. Bancorp (NYSE:USB – Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 28,700 shares of the financial services provider’s stock, valued at approximately $949,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in USB. Vestcor Inc boosted its holdings in shares of U.S. Bancorp by 0.7% during the 4th quarter. Vestcor Inc now owns 33,480 shares of the financial services provider’s stock worth $1,460,000 after buying an additional 230 shares during the period. Acadian Asset Management LLC raised its position in shares of U.S. Bancorp by 3.0% in the 1st quarter. Acadian Asset Management LLC now owns 9,397 shares of the financial services provider’s stock valued at $499,000 after buying an additional 276 shares in the last quarter. Gamco Investors INC. ET AL raised its position in shares of U.S. Bancorp by 3.4% in the 1st quarter. Gamco Investors INC. ET AL now owns 8,520 shares of the financial services provider’s stock valued at $453,000 after buying an additional 280 shares in the last quarter. Investors Research Corp raised its position in shares of U.S. Bancorp by 0.9% in the 2nd quarter. Investors Research Corp now owns 35,268 shares of the financial services provider’s stock valued at $1,165,000 after buying an additional 300 shares in the last quarter. Finally, Perkins Capital Management Inc. raised its position in shares of U.S. Bancorp by 2.0% in the 3rd quarter. Perkins Capital Management Inc. now owns 14,984 shares of the financial services provider’s stock valued at $495,000 after buying an additional 300 shares in the last quarter. 75.40% of the stock is currently owned by institutional investors and hedge funds.
U.S. Bancorp Trading Up 0.0 %
NYSE:USB opened at $41.36 on Friday. The firm’s fifty day moving average is $42.16 and its 200-day moving average is $37.90. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.81 and a current ratio of 0.81. U.S. Bancorp has a 52 week low of $27.27 and a 52 week high of $48.24. The firm has a market cap of $64.44 billion, a P/E ratio of 12.61, a P/E/G ratio of 2.10 and a beta of 1.04.
U.S. Bancorp (NYSE:USB – Get Free Report) last posted its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.28. U.S. Bancorp had a net margin of 13.36% and a return on equity of 14.89%. The company had revenue of $6.76 billion for the quarter, compared to analyst estimates of $6.85 billion. During the same period in the prior year, the firm posted $1.20 EPS. The company’s quarterly revenue was up 6.2% on a year-over-year basis. Equities analysts expect that U.S. Bancorp will post 3.93 earnings per share for the current year.
U.S. Bancorp Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were paid a $0.49 dividend. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.48. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date was Thursday, December 28th. U.S. Bancorp’s dividend payout ratio is currently 59.76%.
Insider Activity
In related news, insider Terrance R. Dolan sold 26,583 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the transaction, the insider now owns 144,236 shares in the company, valued at approximately $6,255,515.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP James L. Chosy sold 21,582 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $41.47, for a total transaction of $895,005.54. Following the transaction, the executive vice president now owns 164,880 shares in the company, valued at approximately $6,837,573.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Terrance R. Dolan sold 26,583 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the transaction, the insider now owns 144,236 shares in the company, valued at approximately $6,255,515.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 88,021 shares of company stock valued at $3,760,229. 0.24% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
USB has been the subject of several analyst reports. Odeon Capital Group upgraded 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 research report on Thursday, December 14th. The Goldman Sachs Group lifted their price target on shares of U.S. Bancorp from $37.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, December 19th. Royal Bank of Canada lifted their price target on shares of U.S. Bancorp from $43.00 to $47.00 and gave the company an “outperform” rating in a report on Thursday, January 18th. Piper Sandler reaffirmed a “neutral” rating on shares of U.S. Bancorp in a report on Friday, January 26th. Finally, Robert W. Baird lowered shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $52.00 price target on the stock. in a report on Friday, December 15th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $45.35.
View Our Latest Stock Report on USB
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.
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