Dimensional Fund Advisors LP boosted its stake in shares of U.S. Bancorp (NYSE:USB – Free Report) by 0.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,369,212 shares of the financial services provider’s stock after acquiring an additional 93,025 shares during the quarter. Dimensional Fund Advisors LP’s holdings in U.S. Bancorp were worth $539,232,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of USB. Inceptionr LLC lifted its stake in shares of U.S. Bancorp by 424.4% in the 4th quarter. Inceptionr LLC now owns 27,614 shares of the financial services provider’s stock valued at $1,473,000 after purchasing an additional 22,348 shares during the period. Nordea Investment Management AB boosted its holdings in U.S. Bancorp by 15.3% during the fourth quarter. Nordea Investment Management AB now owns 2,690,174 shares of the financial services provider’s stock worth $144,462,000 after buying an additional 357,300 shares in the last quarter. Savvy Advisors Inc. grew its position in U.S. Bancorp by 244.4% during the fourth quarter. Savvy Advisors Inc. now owns 30,872 shares of the financial services provider’s stock valued at $1,647,000 after buying an additional 21,907 shares during the period. Cardinal Capital Management Inc. grew its position in U.S. Bancorp by 17.3% during the fourth quarter. Cardinal Capital Management Inc. now owns 285,196 shares of the financial services provider’s stock valued at $15,218,000 after buying an additional 42,095 shares during the period. Finally, Keudell Morrison Wealth Management purchased a new position in U.S. Bancorp in the fourth quarter valued at $2,856,000. 77.60% of the stock is owned by institutional investors and hedge funds.
U.S. Bancorp Stock Performance
USB opened at $63.15 on Tuesday. The firm’s fifty day simple moving average is $58.06 and its two-hundred day simple moving average is $56.15. U.S. Bancorp has a 52-week low of $43.46 and a 52-week high of $64.84. The company has a market cap of $97.95 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 1.07 and a beta of 0.96. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96.
U.S. Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.3%. The ex-dividend date was Tuesday, June 30th. U.S. Bancorp’s payout ratio is presently 41.52%.
Insider Buying and Selling
In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the sale, the executive vice president directly owned 51,292 shares in the company, valued at approximately $2,847,731.84. The trade was a 40.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.21% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on USB. Wall Street Zen upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, July 6th. Weiss Ratings upgraded U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Robert W. Baird upped their price target on U.S. Bancorp from $64.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday. UBS Group upped their price target on U.S. Bancorp from $58.00 to $66.00 and gave the stock a “neutral” rating in a report on Tuesday, July 7th. Finally, Morgan Stanley raised their price objective on U.S. Bancorp from $64.00 to $67.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, U.S. Bancorp has an average rating of “Moderate Buy” and an average price target of $67.00.
Check Out Our Latest Research Report on U.S. Bancorp
Key Headlines Impacting U.S. Bancorp
Here are the key news stories impacting U.S. Bancorp this week:
- Positive Sentiment: Evercore upgraded U.S. Bancorp (USB) from “in-line” to “outperform” and set a $72 price target, implying meaningful upside from current levels. Read More
- Positive Sentiment: JPMorgan upgraded U.S. Bancorp (USB) from “underweight” to “neutral” and raised its target to $67.50, citing improving prospects tied to growth in fee revenue. Read More
- Positive Sentiment: Several recent articles highlighted U.S. Bancorp (USB) as a strong dividend stock, reinforcing the bank’s appeal to income-focused investors. Article
- Neutral Sentiment: Additional coverage compared USB with other finance stocks this year, but did not indicate a major new fundamental catalyst. Article
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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