Accredited Investors Inc. decreased its holdings in U.S. Bancorp (NYSE:USB – Free Report) by 17.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,628 shares of the financial services provider’s stock after selling 11,908 shares during the period. Accredited Investors Inc.’s holdings in U.S. Bancorp were worth $1,872,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Moneta Group Investment Advisors LLC grew its stake in shares of U.S. Bancorp by 130,768.0% in 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 purchasing an additional 60,227,825 shares during the period. Norges Bank acquired a new position in shares of U.S. Bancorp in the 4th quarter valued at $644,436,000. BlackRock Inc. grew its holdings in U.S. Bancorp by 6.0% during the second quarter. BlackRock Inc. now owns 110,704,962 shares of the financial services provider’s stock valued at $3,657,692,000 after purchasing an additional 6,307,085 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of U.S. Bancorp by 58.1% in the 2nd 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 buying an additional 5,922,710 shares during the period. Finally, Barclays PLC raised its position in shares of U.S. Bancorp by 120.4% during the third quarter. Barclays PLC now owns 8,810,834 shares of the financial services provider’s stock worth $291,285,000 after purchasing an additional 4,813,976 shares during the period. 75.40% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on USB shares. UBS Group raised their target price on shares of U.S. Bancorp from $35.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, January 17th. Wells Fargo & Company increased their price target on U.S. Bancorp from $43.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, December 14th. Royal Bank of Canada upped their price objective 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. Robert W. Baird downgraded shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $52.00 target price for the company. in a report on Friday, December 15th. Finally, Piper Sandler reissued a “neutral” rating on shares of U.S. Bancorp in a report on Friday. Thirteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $45.30.
Read Our Latest Research Report on U.S. Bancorp
U.S. Bancorp Price Performance
USB traded up $0.21 during midday trading on Tuesday, hitting $43.16. The stock had a trading volume of 2,007,872 shares, compared to its average volume of 9,110,285. The company has a market cap of $67.20 billion, a P/E ratio of 13.09, a price-to-earnings-growth ratio of 2.16 and a beta of 1.06. U.S. Bancorp has a 1 year low of $27.27 and a 1 year high of $49.92. The business has a fifty day moving average of $41.58 and a 200 day moving average of $37.58. 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 (NYSE:USB – Get Free Report) last released its quarterly earnings results 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 return on equity of 14.89% and a net margin of 13.36%. The business had revenue of $6.76 billion during the quarter, compared to analyst estimates of $6.85 billion. During the same quarter in the prior year, the company posted $1.20 EPS. U.S. Bancorp’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, equities analysts forecast that U.S. Bancorp will post 3.95 earnings per share for the current fiscal year.
U.S. Bancorp Increases Dividend
The business also recently announced 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 boost 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 4.54%. The ex-dividend date of this dividend was Thursday, December 28th. U.S. Bancorp’s dividend payout ratio is currently 59.76%.
Insider Activity
In other U.S. Bancorp news, insider Shailesh M. Kotwal sold 2,954 shares of the business’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $39.56, for a total value of $116,860.24. Following the completion of the transaction, the insider now owns 119,768 shares of the company’s stock, valued at approximately $4,738,022.08. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Shailesh M. Kotwal sold 2,046 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $4,547,205.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Shailesh M. Kotwal sold 2,954 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 119,768 shares of the company’s stock, valued at $4,738,022.08. The disclosure for this sale can be found here. Insiders sold 39,856 shares of company stock worth $1,712,319 over the last three months. 0.24% of the stock is currently owned by corporate insiders.
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.
See Also
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