Alps Advisors Inc. Raises Holdings in U.S. Bancorp (NYSE:USB)

Alps Advisors Inc. boosted its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 19.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 601,058 shares of the financial services provider's stock after buying an additional 99,198 shares during the period. Alps Advisors Inc.'s holdings in U.S. Bancorp were worth $25,377,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in U.S. Bancorp by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider's stock valued at $6,640,569,000 after purchasing an additional 1,079,056 shares during the last quarter. FMR LLC increased its position in shares of U.S. Bancorp by 5.0% during the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock valued at $3,210,624,000 after acquiring an additional 3,211,815 shares in the last quarter. Geode Capital Management LLC raised its holdings in U.S. Bancorp by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 33,937,360 shares of the financial services provider's stock worth $1,618,948,000 after acquiring an additional 850,763 shares during the last quarter. Northern Trust Corp lifted its position in U.S. Bancorp by 10.9% in the 4th quarter. Northern Trust Corp now owns 17,050,568 shares of the financial services provider's stock valued at $815,529,000 after acquiring an additional 1,670,305 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in U.S. Bancorp by 48.1% during the 4th quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider's stock valued at $802,947,000 after purchasing an additional 5,449,949 shares during the last quarter. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Price Performance

Shares of NYSE USB traded down $0.33 during midday trading on Friday, reaching $47.24. 6,280,208 shares of the stock traded hands, compared to its average volume of 9,389,004. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The stock has a market capitalization of $73.59 billion, a PE ratio of 11.70, a P/E/G ratio of 1.78 and a beta of 0.99. The company's 50 day moving average is $44.27 and its 200 day moving average is $44.40. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.80 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.97 by $0.06. The company had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.92 billion. U.S. Bancorp had a return on equity of 13.02% and a net margin of 15.70%. During the same quarter last year, the business posted $0.78 earnings per share. On average, equities research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.23%. U.S. Bancorp's dividend payout ratio is presently 49.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Royal Bank Of Canada dropped their price objective on U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. DA Davidson dropped their price target on shares of U.S. Bancorp from $54.00 to $49.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Morgan Stanley boosted their price objective on shares of U.S. Bancorp from $50.00 to $51.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. Piper Sandler decreased their target price on U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating and set a $43.50 target price (down from $51.00) on shares of U.S. Bancorp in a research report on Thursday, April 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, U.S. Bancorp presently has a consensus rating of "Moderate Buy" and an average target price of $51.70.

Insider Buying and Selling

In other news, Director Aleem Gillani bought 5,000 shares of the stock in a transaction dated Monday, April 21st. The stock was purchased at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the acquisition, the director owned 15,000 shares of the company's stock, valued at $559,800. The trade was a 50.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.23% of the stock is owned by insiders.

U.S. Bancorp Profile

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.