LS Investment Advisors LLC increased its holdings in U.S. Bancorp (NYSE:USB – Free Report) by 20.7% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 66,546 shares of the financial services provider’s stock after purchasing an additional 11,393 shares during the period. LS Investment Advisors LLC’s holdings in U.S. Bancorp were worth $2,200,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Nemes Rush Group LLC purchased a new position in shares of U.S. Bancorp in the second quarter worth $25,000. Cedar Mountain Advisors LLC raised its position in U.S. Bancorp by 82.0% during the 2nd quarter. Cedar Mountain Advisors LLC now owns 899 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 405 shares during the last quarter. Compass Wealth Management LLC purchased a new stake in U.S. Bancorp in the 4th quarter worth approximately $39,000. Union Savings Bank purchased a new position in shares of U.S. Bancorp during the second quarter valued at approximately $37,000. Finally, Newbridge Financial Services Group Inc. raised its holdings in shares of U.S. Bancorp by 73.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 962 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 406 shares in the last quarter. Hedge funds and other institutional investors own 75.40% of the company’s stock.
U.S. Bancorp Stock Performance
U.S. Bancorp stock traded down $0.03 during midday trading on Wednesday, hitting $44.04. The stock had a trading volume of 1,511,809 shares, compared to its average volume of 13,379,725. The company has a market capitalization of $68.57 billion, a PE ratio of 13.12, a P/E/G ratio of 2.02 and a beta of 1.07. U.S. Bancorp has a 52-week low of $27.27 and a 52-week high of $49.95. The firm’s fifty day moving average is $37.30 and its two-hundred day moving average is $35.98. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.92.
U.S. Bancorp (NYSE:USB – Get Free Report) last announced its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.09. U.S. Bancorp had a net margin of 14.39% and a return on equity of 15.80%. The business had revenue of $7.03 billion during the quarter, compared to analyst estimates of $7.02 billion. During the same period last year, the firm posted $1.18 EPS. The company’s revenue was up 11.2% on a year-over-year basis. On average, research analysts forecast that U.S. Bancorp will post 4.31 EPS for the current year.
U.S. Bancorp Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.45%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Thursday, December 28th. U.S. Bancorp’s dividend payout ratio is 57.14%.
Insiders Place Their Bets
In other news, insider Shailesh M. Kotwal sold 2,046 shares of U.S. Bancorp stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $40.34, for a total value of $82,535.64. Following the completion of the transaction, the insider now owns 112,722 shares in the company, valued at approximately $4,547,205.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other U.S. Bancorp news, insider Terrance R. Dolan sold 22,756 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $45.04, for a total value of $1,024,930.24. Following the completion of the sale, the insider now owns 144,236 shares of the company’s stock, valued at $6,496,389.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Shailesh M. Kotwal sold 2,046 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $40.34, for a total value of $82,535.64. Following the completion of the sale, the insider now owns 112,722 shares in the company, valued at $4,547,205.48. The disclosure for this sale can be found here. Insiders sold 27,775 shares of company stock valued at $1,225,108 in the last three months. Corporate insiders own 0.24% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on USB. Odeon Capital Group raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $48.93 target price on the stock in a research report on Thursday, December 14th. Morgan Stanley lowered their target price on shares of U.S. Bancorp from $45.00 to $44.00 and set an “equal weight” rating for the company in a report on Tuesday, October 3rd. Piper Sandler raised their price objective on U.S. Bancorp from $38.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, December 8th. Robert W. Baird downgraded U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $52.00 target price on the stock. in a report on Friday, December 15th. Finally, HSBC began coverage on U.S. Bancorp in a report on Thursday, September 7th. They set a “hold” rating and a $30.00 price target for the company. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $45.76.
Read Our Latest Research Report on U.S. Bancorp
U.S. Bancorp Company 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.
Further Reading
Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB – Free Report).
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