Field & Main Bank Raises Stock Holdings in U.S. Bancorp $USB

Field & Main Bank boosted its stake in shares of U.S. Bancorp (NYSE:USB) by 1.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,183 shares of the financial services provider’s stock after buying an additional 325 shares during the quarter. Field & Main Bank’s holdings in U.S. Bancorp were worth $1,094,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in USB. IMG Wealth Management Inc. acquired a new position in shares of U.S. Bancorp in the 2nd quarter worth approximately $25,000. Saudi Central Bank purchased a new stake in U.S. Bancorp in the first quarter valued at approximately $26,000. YANKCOM Partnership lifted its stake in U.S. Bancorp by 59.4% during the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 260 shares in the last quarter. Cornerstone Planning Group LLC boosted its position 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 worth $31,000 after buying an additional 420 shares during the period. Finally, Activest Wealth Management grew its stake in shares of U.S. Bancorp by 846.5% in the second quarter. Activest Wealth Management now owns 814 shares of the financial services provider’s stock valued at $37,000 after buying an additional 728 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on USB. Cowen reissued a “buy” rating on shares of U.S. Bancorp in a research report on Monday, October 20th. Deutsche Bank Aktiengesellschaft raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price target for the company in a research report on Thursday, October 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of U.S. Bancorp in a research report on Wednesday, October 8th. Oppenheimer decreased their target price on U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating for the company in a report on Tuesday, September 23rd. Finally, Truist Financial increased their price target on U.S. Bancorp from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average target price of $54.55.

Insiders Place Their Bets

In other news, Chairman Andrew Cecere sold 140,445 shares of U.S. Bancorp stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the sale, the chairman owned 1,360,414 shares in the company, valued at approximately $63,041,584.76. The trade was a 9.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James L. Chosy sold 26,909 shares of the company’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $46.86, for a total value of $1,260,955.74. Following the completion of the sale, the executive vice president directly owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. This trade represents a 10.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Down 1.5%

Shares of NYSE USB opened at $46.56 on Thursday. The business has a 50-day moving average of $48.16 and a two-hundred day moving average of $45.42. The company has a market capitalization of $72.45 billion, a price-to-earnings ratio of 10.65, a price-to-earnings-growth ratio of 1.26 and a beta of 1.06. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.82.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. The business had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.03 EPS. On average, analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Tuesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s dividend payout ratio (DPR) is currently 47.60%.

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.