U.S. Bancorp $USB Shares Acquired by Princeton Global Asset Management LLC

Princeton Global Asset Management LLC lifted its stake in shares of U.S. Bancorp (NYSE:USB) by 83.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,562 shares of the financial services provider’s stock after purchasing an additional 712 shares during the period. Princeton Global Asset Management LLC’s holdings in U.S. Bancorp were worth $71,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Saudi Central Bank acquired a new stake in U.S. Bancorp during the 1st quarter worth about $26,000. Westend Capital Management LLC acquired a new position in shares of U.S. Bancorp in the first quarter worth about $27,000. YANKCOM Partnership increased its position in shares of U.S. Bancorp by 59.4% in the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 260 shares in the last quarter. Alpine Bank Wealth Management acquired a new stake in shares of U.S. Bancorp during the first quarter valued at approximately $30,000. Finally, Cornerstone Planning Group LLC raised its holdings in shares of U.S. Bancorp by 118.0% during the first quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 420 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Trading Up 3.1%

NYSE:USB opened at $47.10 on Tuesday. The company has a market capitalization of $73.29 billion, a P/E ratio of 10.78, a P/E/G ratio of 1.31 and a beta of 1.06. The stock’s 50 day moving average price is $47.98 and its 200 day moving average price is $44.94. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82. 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 Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, topping the consensus estimate of $1.11 by $0.11. The company had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.17 billion. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.03 earnings per share. On average, research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a dividend of $0.52 per share. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, September 30th. This represents a $2.08 annualized dividend and a dividend yield of 4.4%. U.S. Bancorp’s dividend payout ratio is currently 47.60%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on USB. Bank of America raised their price objective on shares of U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday. TD Cowen raised their target price on U.S. Bancorp from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday. Truist Financial lifted their price target on U.S. Bancorp from $51.00 to $52.00 and gave the company a “hold” rating in a report on Friday. Oppenheimer reduced their price objective on U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating for the company in a research note on Tuesday, September 23rd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of U.S. Bancorp in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, U.S. Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $54.48.

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 through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.