Y Intercept Hong Kong Ltd raised its holdings in shares of U.S. Bancorp (NYSE:USB – Free Report) by 51.7% during the 1st quarter, Holdings Channel reports. The fund owned 253,821 shares of the financial services provider’s stock after purchasing an additional 86,506 shares during the period. Y Intercept Hong Kong Ltd’s holdings in U.S. Bancorp were worth $13,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of U.S. Bancorp by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider’s stock valued at $7,810,665,000 after purchasing an additional 1,828,404 shares in the last quarter. State Street Corp lifted its holdings in U.S. Bancorp by 0.8% in the fourth quarter. State Street Corp now owns 69,701,898 shares of the financial services provider’s stock worth $3,755,083,000 after purchasing an additional 522,368 shares during the period. Geode Capital Management LLC grew its position in U.S. Bancorp by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 37,679,617 shares of the financial services provider’s stock valued at $2,002,518,000 after buying an additional 443,646 shares in the last quarter. Norges Bank acquired a new position in U.S. Bancorp during the 4th quarter valued at about $1,887,497,000. Finally, Auto Owners Insurance Co increased its stake in U.S. Bancorp by 5,236.0% during the 4th quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock valued at $1,779,556,000 after buying an additional 32,725,000 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the stock. Stephens started coverage on shares of U.S. Bancorp in a research note on Monday, June 15th. They issued an “equal weight” rating and a $63.00 price target for the company. Jefferies Financial Group reissued a “hold” rating and set a $60.00 target price on shares of U.S. Bancorp in a report on Thursday, April 16th. Oppenheimer cut their target price on U.S. Bancorp from $74.00 to $73.00 and set an “outperform” rating for the company in a research report on Tuesday. Weiss Ratings upgraded U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Finally, Truist Financial boosted their price objective on U.S. Bancorp from $62.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.57.
Insiders Place Their Bets
In other news, EVP Venkatachari Dilip sold 34,522 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the sale, the executive vice president owned 51,292 shares of the company’s stock, valued at $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jodi L. Richard sold 40,000 shares of the company’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the transaction, the insider directly owned 207,251 shares in the company, valued at $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by corporate insiders.
U.S. Bancorp Trading Down 0.5%
Shares of USB opened at $61.67 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a 1-year low of $43.46 and a 1-year high of $62.38. The stock has a market capitalization of $95.67 billion, a P/E ratio of 12.93, a P/E/G ratio of 1.07 and a beta of 0.96. The business’s 50-day moving average price is $56.47 and its 200 day moving average price is $55.46.
U.S. Bancorp (NYSE:USB – Get Free Report) last released its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The business had revenue of $7.32 billion for the quarter, compared to the consensus estimate of $7.27 billion. During the same period last year, the firm posted $1.03 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Analysts expect that U.S. Bancorp will post 5.09 earnings per share for the current year.
U.S. Bancorp Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, June 30th. U.S. Bancorp’s payout ratio is 43.61%.
U.S. Bancorp Profile
U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.
Headquartered in Minneapolis, Minnesota, U.S.
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