LSV Asset Management Purchases 324,800 Shares of U.S. Bancorp $USB

LSV Asset Management boosted its stake in U.S. Bancorp (NYSE:USB) by 349.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 417,800 shares of the financial services provider’s stock after acquiring an additional 324,800 shares during the period. LSV Asset Management’s holdings in U.S. Bancorp were worth $18,905,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Davis Selected Advisers lifted its holdings in shares of U.S. Bancorp by 29.8% during the second quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock valued at $874,757,000 after purchasing an additional 4,442,623 shares during the last quarter. Nuveen LLC purchased a new stake in shares of U.S. Bancorp during the 1st quarter valued at about $138,183,000. Vanguard Group Inc. boosted its holdings in shares of U.S. Bancorp by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider’s stock valued at $5,962,742,000 after acquiring an additional 2,393,383 shares during the last quarter. American Century Companies Inc. grew its stake in shares of U.S. Bancorp by 17.4% in the first quarter. American Century Companies Inc. now owns 10,070,174 shares of the financial services provider’s stock worth $425,163,000 after acquiring an additional 1,493,318 shares during the period. Finally, Nordea Investment Management AB raised its holdings in shares of U.S. Bancorp by 192.0% during the second quarter. Nordea Investment Management AB now owns 1,994,993 shares of the financial services provider’s stock valued at $90,752,000 after purchasing an additional 1,311,746 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Insider Transactions at U.S. Bancorp

In related news, EVP James L. Chosy sold 26,909 shares of the firm’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 transaction, the executive vice president owned 226,375 shares of the company’s stock, valued at $10,607,932.50. This trade represents a 10.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Andrew Cecere sold 140,445 shares of U.S. Bancorp stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the sale, the chairman directly owned 1,360,414 shares of the company’s stock, valued at $63,041,584.76. This represents a 9.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

USB has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their target price on shares of U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Deutsche Bank Aktiengesellschaft upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price objective on the stock in a research note on Thursday, October 23rd. Morgan Stanley reaffirmed a “positive” rating on shares of U.S. Bancorp in a report on Friday, October 17th. Truist Financial increased their price target on shares of U.S. Bancorp from $51.00 to $52.00 and gave the stock a “hold” rating in a research report on Friday, October 17th. Finally, Citigroup boosted their price objective on shares of U.S. Bancorp from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $54.45.

U.S. Bancorp Trading Up 1.9%

Shares of USB opened at $46.80 on Thursday. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10. The company’s fifty day simple moving average is $47.65 and its 200-day simple moving average is $46.21. The company has a market cap of $72.74 billion, a P/E ratio of 10.71, a P/E/G ratio of 1.25 and a beta of 1.10.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The company had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same period in the prior year, the company posted $1.03 EPS. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, analysts expect that U.S. Bancorp will post 4.38 EPS for the current 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 paid a dividend of $0.52 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Tuesday, September 30th. U.S. Bancorp’s payout ratio is presently 47.60%.

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.