Ceredex Value Advisors LLC raised its position in shares of U.S. Bancorp (NYSE:USB – Free Report) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,406,257 shares of the financial services provider’s stock after acquiring an additional 31,604 shares during the quarter. U.S. Bancorp makes up about 1.8% of Ceredex Value Advisors LLC’s holdings, making the stock its 6th largest holding. Ceredex Value Advisors LLC owned 0.15% of U.S. Bancorp worth $105,253,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. BCK Partners Inc. acquired a new stake in shares of U.S. Bancorp in the first quarter valued at approximately $2,514,000. Acadian Asset Management LLC increased its holdings in shares of U.S. Bancorp by 3.0% in the first quarter. Acadian Asset Management LLC now owns 9,397 shares of the financial services provider’s stock valued at $499,000 after purchasing an additional 276 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in shares of U.S. Bancorp by 20.8% in the first quarter. Vontobel Holding Ltd. now owns 21,314 shares of the financial services provider’s stock valued at $1,176,000 after purchasing an additional 3,663 shares during the last quarter. Prudential PLC purchased a new position in U.S. Bancorp in the first quarter worth approximately $1,731,000. Finally, Candriam Luxembourg S.C.A. grew its position in U.S. Bancorp by 5.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 86,048 shares of the financial services provider’s stock worth $4,573,000 after acquiring an additional 4,827 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.
Insider Buying and Selling
In related news, EVP James L. Chosy sold 21,582 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was 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 of the company’s stock, valued at $6,837,573.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other U.S. Bancorp news, insider Timothy A. Welsh sold 12,100 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $40.33, for a total value of $487,993.00. Following the sale, the insider now owns 106,958 shares of the company’s stock, valued at approximately $4,313,616.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James L. Chosy sold 21,582 shares of U.S. Bancorp stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the sale, the executive vice president now directly owns 164,880 shares in the company, valued at approximately $6,837,573.60. The disclosure for this sale can be found here. Insiders have sold a total of 60,265 shares of company stock valued at $2,535,903 over the last quarter. 0.23% of the stock is currently owned by insiders.
Analysts Set New Price Targets
USB has been the subject of several analyst reports. Morgan Stanley increased their price objective on U.S. Bancorp from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Odeon Capital Group upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $48.93 price objective for the company in a research report on Thursday, December 14th. StockNews.com lowered U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, February 20th. HSBC upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and increased their price objective for the stock from $47.00 to $53.00 in a research report on Thursday, March 28th. Finally, Evercore ISI raised their price target on U.S. Bancorp from $46.00 to $48.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $46.65.
Read Our Latest Research Report on USB
U.S. Bancorp Stock Performance
Shares of USB traded up $0.11 during midday trading on Friday, reaching $43.03. 4,580,222 shares of the stock were exchanged, compared to its average volume of 7,664,791. The business’s 50-day moving average price is $42.22 and its 200 day moving average price is $39.27. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.81. U.S. Bancorp has a twelve month low of $27.27 and a twelve month high of $45.85. The company has a market capitalization of $67.05 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 2.23 and a beta of 1.05.
U.S. Bancorp (NYSE:USB – Get Free Report) last posted its earnings results 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. 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 for the quarter, compared to analysts’ expectations of $6.85 billion. During the same quarter in the previous year, the firm earned $1.20 earnings per share. The business’s revenue was up 6.2% compared to the same quarter last year. On average, sell-side analysts expect that U.S. Bancorp will post 3.86 EPS for the current fiscal year.
U.S. Bancorp Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date is Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio is currently 59.76%.
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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