North Star Asset Management Inc. bought a new stake in shares of U.S. Bancorp (NYSE:USB – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 15,931 shares of the financial services provider’s stock, valued at approximately $962,000.
A number of other large investors have also recently made changes to their positions in the stock. Inceptionr LLC grew its stake in U.S. Bancorp by 424.4% in the fourth quarter. Inceptionr LLC now owns 27,614 shares of the financial services provider’s stock worth $1,473,000 after purchasing an additional 22,348 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in U.S. Bancorp by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock valued at $539,232,000 after buying an additional 93,025 shares in the last quarter. Keudell Morrison Wealth Management bought a new position in U.S. Bancorp during the 4th quarter worth approximately $2,856,000. Principal Financial Group Inc. grew its position in shares of U.S. Bancorp by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 1,769,589 shares of the financial services provider’s stock worth $94,425,000 after acquiring an additional 49,733 shares in the last quarter. Finally, ABN Amro Investment Solutions grew its position in shares of U.S. Bancorp by 7.9% in the 4th quarter. ABN Amro Investment Solutions now owns 252,961 shares of the financial services provider’s stock worth $13,498,000 after acquiring an additional 18,468 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.
Insider Activity at U.S. Bancorp
In related news, insider Stephen L. Philipson sold 36,906 shares of the business’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the completion of the transaction, the insider owned 74,969 shares in the company, valued at approximately $4,729,044.52. The trade was a 32.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is currently owned by company insiders.
U.S. Bancorp Stock Up 0.2%
U.S. Bancorp (NYSE:USB – Get Free Report) last issued its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.07. The business had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.58 billion. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.During the same period in the prior year, the firm posted $1.11 EPS. Research analysts forecast that U.S. Bancorp will post 5.22 EPS for the current year.
U.S. Bancorp Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.3%. U.S. Bancorp’s dividend payout ratio is 41.52%.
Analyst Ratings Changes
Several equities analysts recently issued reports on USB shares. CLSA set a $67.50 price objective on U.S. Bancorp in a research note on Monday, July 20th. Wall Street Zen raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Monday, July 6th. Truist Financial lifted their price target on shares of U.S. Bancorp from $66.00 to $69.00 and gave the company a “buy” rating in a report on Friday, July 17th. Keefe, Bruyette & Woods raised their target price on shares of U.S. Bancorp from $63.00 to $66.00 and gave the stock a “market perform” rating in a report on Friday, July 17th. Finally, Robert W. Baird raised 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, July 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.06.
View Our Latest Report on U.S. Bancorp
About U.S. Bancorp
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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