Ethic Inc. Boosts Stock Holdings in U.S. Bancorp (NYSE:USB)

Ethic Inc. grew its position in U.S. Bancorp (NYSE:USB) by 56.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 216,860 shares of the financial services provider’s stock after purchasing an additional 77,895 shares during the period. Ethic Inc.’s holdings in U.S. Bancorp were worth $10,372,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in USB. Norges Bank bought a new stake in U.S. Bancorp in the 4th quarter worth about $777,524,000. Invesco Ltd. boosted its stake in shares of U.S. Bancorp by 48.1% in the 4th quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider’s stock worth $802,947,000 after buying an additional 5,449,949 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of U.S. Bancorp by 414.1% in the 4th quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider’s stock worth $276,915,000 after buying an additional 4,663,518 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of U.S. Bancorp in the fourth quarter valued at approximately $184,733,000. Finally, FMR LLC increased its position in shares of U.S. Bancorp by 5.0% during the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider’s stock valued at $3,210,624,000 after acquiring an additional 3,211,815 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

USB has been the topic of several research analyst reports. Royal Bank of Canada cut their price objective on U.S. Bancorp from $57.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, April 17th. Piper Sandler cut their price target on shares of U.S. Bancorp from $49.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Bank of America decreased their price objective on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a report on Monday, March 17th. The Goldman Sachs Group dropped their target price on shares of U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Finally, Citigroup reduced their target price on shares of U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, March 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $50.48.

U.S. Bancorp Price Performance

NYSE:USB opened at $42.08 on Friday. The firm has a market capitalization of $65.56 billion, a price-to-earnings ratio of 11.10, a P/E/G ratio of 1.73 and a beta of 0.97. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The stock has a fifty day moving average of $40.76 and a 200 day moving average of $46.19. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.97 by $0.06. The company had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.92 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. During the same quarter in the previous year, the firm earned $0.78 earnings per share. On average, research analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.75%. The ex-dividend date of this dividend was Monday, March 31st. U.S. Bancorp’s dividend payout ratio (DPR) is currently 49.50%.

Insider Transactions at U.S. Bancorp

In other news, Director Aleem Gillani purchased 5,000 shares of the stock in a transaction on Monday, April 21st. The shares were acquired at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $559,800. This trade represents a 50.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.23% of the stock is currently owned by 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 through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.