KMG Fiduciary Partners LLC Raises Stock Holdings in U.S. Bancorp (NYSE:USB)

KMG Fiduciary Partners LLC grew its position in U.S. Bancorp (NYSE:USB) by 6.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 67,623 shares of the financial services provider’s stock after acquiring an additional 3,829 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in U.S. Bancorp were worth $2,855,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of U.S. Bancorp by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider’s stock valued at $6,640,569,000 after acquiring an additional 1,079,056 shares in the last quarter. FMR LLC lifted its position in shares of U.S. Bancorp by 5.0% in 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of U.S. Bancorp by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock valued at $2,381,443,000 after acquiring an additional 2,460,845 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of U.S. Bancorp by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 33,937,360 shares of the financial services provider’s stock valued at $1,618,948,000 after acquiring an additional 850,763 shares in the last quarter. Finally, Amundi lifted its position in shares of U.S. Bancorp by 7.4% in the fourth quarter. Amundi now owns 19,485,615 shares of the financial services provider’s stock valued at $945,268,000 after acquiring an additional 1,341,407 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Activity

In other news, Director Aleem Gillani acquired 5,000 shares of the company’s stock in a transaction dated Monday, April 21st. The stock was acquired at an average cost of $37.32 per share, with a total value of $186,600.00. Following the completion of the purchase, the director now owns 15,000 shares of the company’s stock, valued at $559,800. This represents a 50.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

USB stock opened at $44.76 on Friday. The business has a fifty day moving average of $41.15 and a two-hundred day moving average of $45.36. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The stock has a market cap of $69.74 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 1.73 and a beta of 0.99. 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 posted its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (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 analysts’ expectations 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 last year, the firm earned $0.78 earnings per share. As a group, research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 4.47%. U.S. Bancorp’s dividend payout ratio (DPR) is 49.50%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on USB. Morgan Stanley decreased their target price on U.S. Bancorp from $51.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Piper Sandler decreased their target price on U.S. Bancorp from $49.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Citigroup cut their price target on U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating for the company in a report on Monday, March 24th. The Goldman Sachs Group cut their price target on U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Finally, Keefe, Bruyette & Woods cut their price target on U.S. Bancorp from $54.00 to $49.00 and set a “market perform” rating for the company in a report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.67.

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.