Van ECK Associates Corp grew its holdings in U.S. Bancorp (NYSE:USB – Free Report) by 19.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,677,378 shares of the financial services provider’s stock after purchasing an additional 1,410,324 shares during the period. Van ECK Associates Corp owned approximately 0.56% of U.S. Bancorp worth $286,874,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Nemes Rush Group LLC acquired a new stake in shares of U.S. Bancorp in the 2nd quarter valued at $25,000. Legacy Financial Group LLC acquired a new stake in shares of U.S. Bancorp in the third quarter worth about $30,000. Archer Investment Corp increased its holdings in shares of U.S. Bancorp by 63.2% during the 2nd quarter. Archer Investment Corp now owns 979 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 379 shares during the last quarter. Arlington Partners LLC raised its stake in shares of U.S. Bancorp by 703.9% in the 2nd quarter. Arlington Partners LLC now owns 1,029 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 901 shares in the last quarter. Finally, First Command Advisory Services Inc. bought a new stake in U.S. Bancorp during the third quarter worth approximately $35,000. Institutional investors and hedge funds own 75.40% of the company’s stock.
U.S. Bancorp Trading Up 0.0 %
Shares of U.S. Bancorp stock traded up $0.02 during trading hours on Tuesday, hitting $40.12. The company’s stock had a trading volume of 2,100,445 shares, compared to its average volume of 9,575,439. U.S. Bancorp has a 12 month low of $27.27 and a 12 month high of $49.80. 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 company has a market capitalization of $62.47 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 2.07 and a beta of 1.04. The stock has a 50 day moving average of $42.02 and a 200 day moving average of $37.73.
U.S. Bancorp (NYSE:USB – Get Free Report) last issued its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.28. The business 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%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the business posted $1.20 earnings per share. Analysts predict that U.S. Bancorp will post 3.94 earnings per share for the current year.
U.S. Bancorp Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were given a $0.49 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.89%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.48. U.S. Bancorp’s dividend payout ratio (DPR) is presently 59.76%.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on USB shares. Royal Bank of Canada upped their price target on U.S. Bancorp from $43.00 to $47.00 and gave the stock an “outperform” rating in a report on Thursday, January 18th. Wells Fargo & Company raised their price target on shares of U.S. Bancorp from $43.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, December 14th. Piper Sandler reaffirmed a “neutral” rating on shares of U.S. Bancorp in a research report on Friday, January 26th. Robert W. Baird cut U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $52.00 price target for the company. in a report on Friday, December 15th. Finally, TheStreet raised shares of U.S. Bancorp from a “c+” rating to a “b-” rating in a research report 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. Based on data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Hold” and an average target price of $45.35.
View Our Latest Analysis on USB
Insider Buying and Selling
In related news, insider Terrance R. Dolan sold 26,583 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the completion of the sale, the insider now directly owns 144,236 shares in the company, valued at approximately $6,255,515.32. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Shailesh M. Kotwal sold 2,046 shares of U.S. Bancorp stock in a transaction 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 transaction, the insider now owns 112,722 shares in the company, valued at $4,547,205.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Terrance R. Dolan sold 26,583 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total value of $1,152,904.71. Following the completion of the sale, 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. Insiders sold 66,439 shares of company stock valued at $2,865,224 over the last quarter. 0.24% of the stock is owned by company insiders.
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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