Cape Cod Five Cents Savings Bank trimmed its holdings in shares of U.S. Bancorp (NYSE:USB – Free Report) by 52.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,628 shares of the financial services provider’s stock after selling 58,495 shares during the quarter. Cape Cod Five Cents Savings Bank’s holdings in U.S. Bancorp were worth $1,740,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of USB. Moneta Group Investment Advisors LLC boosted its stake in U.S. Bancorp by 130,768.0% in the fourth 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 acquiring an additional 60,227,825 shares in the last quarter. Mufg Bank LTD. lifted its position in U.S. Bancorp by 54.1% during the third quarter. Mufg Bank LTD. now owns 68,374,155 shares of the financial services provider’s stock valued at $2,260,450,000 after purchasing an additional 24,000,000 shares during the period. Norges Bank acquired a new position in U.S. Bancorp during the fourth quarter valued at $644,436,000. BlackRock Inc. lifted its position 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. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in U.S. Bancorp by 58.1% during 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 owned by hedge funds and other institutional investors.
U.S. Bancorp Stock Performance
NYSE:USB traded up $0.12 during trading hours on Wednesday, reaching $41.49. 1,257,477 shares of the company’s stock were exchanged, compared to its average volume of 9,083,177. The firm has a market capitalization of $64.65 billion, a price-to-earnings ratio of 12.61, a P/E/G ratio of 2.08 and a beta of 1.04. The company has a 50-day moving average of $42.04 and a 200 day moving average of $37.91. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. U.S. Bancorp has a 1-year low of $27.27 and a 1-year high of $47.56.
U.S. Bancorp (NYSE:USB – Get Free Report) last released its earnings results on Wednesday, January 17th. The financial services provider reported $0.99 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $6.85 billion. During the same quarter last year, the business earned $1.20 EPS. The business’s revenue was up 6.2% on a year-over-year basis. Research analysts anticipate that U.S. Bancorp will post 3.93 EPS for the current year.
U.S. Bancorp Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date was Thursday, December 28th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.48. U.S. Bancorp’s dividend payout ratio (DPR) is currently 59.76%.
Insider Activity
In other U.S. Bancorp news, insider Shailesh M. Kotwal sold 2,954 shares of the firm’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $39.56, for a total transaction of $116,860.24. Following the completion of the transaction, the insider now directly owns 119,768 shares in the company, valued at approximately $4,738,022.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Shailesh M. Kotwal sold 2,954 shares of U.S. Bancorp stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $39.56, for a total transaction of $116,860.24. Following the completion of the sale, the insider now directly owns 119,768 shares in the company, valued at $4,738,022.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Timothy A. Welsh sold 12,100 shares of U.S. Bancorp stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $40.33, for a total transaction of $487,993.00. Following the sale, the insider now owns 106,958 shares of the company’s stock, valued at $4,313,616.14. The disclosure for this sale can be found here. Insiders sold 88,021 shares of company stock worth $3,760,229 in the last 90 days. 0.24% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on USB shares. Piper Sandler restated a “neutral” rating on shares of U.S. Bancorp in a research report on Friday, January 26th. UBS Group boosted their target price on shares of U.S. Bancorp from $35.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, January 17th. Morgan Stanley upped their target price on shares of 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. 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 note on Thursday, December 14th. Finally, The Goldman Sachs Group increased their price objective on shares of U.S. Bancorp from $37.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, December 19th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.35.
Read Our Latest Analysis on U.S. Bancorp
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider U.S. Bancorp, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and U.S. Bancorp wasn’t on the list.
While U.S. Bancorp currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
Which stocks are major institutional investors including hedge funds and endowments buying in today’s market? Click the link below and we’ll send you MarketBeat’s list of thirteen stocks that institutional investors are buying up as quickly as they can.
Source: marketbeat.com
