Crossmark Global Holdings Inc. boosted its stake in U.S. Bancorp (NYSE:USB – Free Report) by 3.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 465,154 shares of the financial services provider’s stock after acquiring an additional 17,491 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in U.S. Bancorp were worth $26,867,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pinnacle Associates Ltd. lifted its position in shares of U.S. Bancorp by 0.7% during the third quarter. Pinnacle Associates Ltd. now owns 60,573 shares of the financial services provider’s stock worth $3,499,000 after purchasing an additional 395 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of U.S. Bancorp by 1.2% in the third quarter. Nisa Investment Advisors LLC now owns 233,168 shares of the financial services provider’s stock valued at $13,594,000 after purchasing an additional 2,661 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in shares of U.S. Bancorp by 2.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,695,571 shares of the financial services provider’s stock valued at $155,696,000 after purchasing an additional 58,156 shares during the period. Diversify Advisory Services LLC grew its holdings in U.S. Bancorp by 25.2% during the 3rd quarter. Diversify Advisory Services LLC now owns 20,144 shares of the financial services provider’s stock valued at $1,156,000 after purchasing an additional 4,055 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG grew its holdings in U.S. Bancorp by 29.1% during the 3rd quarter. Bank Pictet & Cie Europe AG now owns 95,639 shares of the financial services provider’s stock valued at $5,524,000 after purchasing an additional 21,571 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts recently issued reports on USB shares. Barclays lifted their price target on shares of U.S. Bancorp from $67.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Stephens upped their price objective on shares of U.S. Bancorp from $63.00 to $67.00 and gave the company an “equal weight” rating in a research report on Friday, July 17th. Weiss Ratings reissued a “buy (b)” rating on shares of U.S. Bancorp in a research report on Friday, July 31st. CLSA set a $67.50 target price on U.S. Bancorp in a research note on Monday, July 20th. Finally, DA Davidson reaffirmed a “buy” rating and set a $73.00 target price on shares of U.S. Bancorp in a research report on Friday, October 16th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $68.43.
Check Out Our Latest Analysis on U.S. Bancorp
Insider Activity
In other news, CEO Gunjan Kedia sold 27,267 shares of U.S. Bancorp stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $62.37, for a total value of $1,700,642.79. Following the completion of the transaction, the chief executive officer directly owned 426,262 shares of the company’s stock, valued at approximately $26,585,960.94. The trade was a 6.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.21% of the company’s stock.
U.S. Bancorp Stock Performance
Shares of USB opened at $59.08 on Thursday. The business’s fifty day moving average price is $60.47 and its 200 day moving average price is $59.20. U.S. Bancorp has a 12-month low of $45.02 and a 12-month high of $66.07. The stock has a market capitalization of $92.04 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 1.13 and a beta of 1.00. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.83 and a quick ratio of 0.83.
U.S. Bancorp (NYSE:USB – Get Free Report) last released its earnings results on Thursday, October 15th. The financial services provider reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.02. U.S. Bancorp had a net margin of 18.85% and a return on equity of 13.85%. The firm had revenue of $8.04 billion during the quarter, compared to analyst estimates of $8 billion. During the same quarter in the previous year, the firm earned $1.22 earnings per share. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities research analysts forecast that U.S. Bancorp will post 5.29 EPS for the current year.
U.S. Bancorp Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Wednesday, September 30th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.52. U.S. Bancorp’s payout ratio is 42.11%.
U.S. Bancorp Company Profile
U.S. Bancorp (NYSE: USB) is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. U.S. Bank provides banking, lending, payment, investment and wealth-management services to individuals, businesses, institutions and government entities.
The company’s consumer and business banking operations offer deposit accounts, mortgages, home-equity and consumer loans, credit cards, small-business banking and commercial lending.
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