Amundi Buys 1,301,547 Shares of U.S. Bancorp $USB

Key Points

• Amundi increased its U.S. Bancorp stake by 25.2% in the first quarter, purchasing 1.30 million additional shares to hold 6.47 million shares valued at approximately $336.5 million. Institutional investors own 77.6% of the company.
• Analysts maintain a positive outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $67.06; several firms recently raised their targets to between $68 and $74.
• U.S. Bancorp exceeded quarterly expectations with adjusted earnings of $1.35 per share and revenue of $7.71 billion. The company also pays a quarterly dividend of $0.52 per share, representing a 3.3% annualized yield.

Amundi raised its stake in U.S. Bancorp (NYSE:USB - Free Report) by 25.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,470,642 shares of the financial services provider's stock after purchasing an additional 1,301,547 shares during the period. Amundi owned 0.42% of U.S. Bancorp worth $336,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in USB. Clayton Financial Group LLC purchased a new position in U.S. Bancorp in the fourth quarter worth $25,000. Financial Life Planners purchased a new stake in shares of U.S. Bancorp during the 1st quarter valued at $27,000. Main Street Group LTD acquired a new stake in shares of U.S. Bancorp in the 1st quarter worth $28,000. JPL Wealth Management LLC acquired a new stake in shares of U.S. Bancorp in the 3rd quarter worth $28,000. Finally, Binnacle Investments Inc grew its stake in U.S. Bancorp by 77.8% during the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider's stock worth $30,000 after buying an additional 273 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Wells Fargo & Company upped their target price on U.S. Bancorp from $66.00 to $69.00 and gave the company an "overweight" rating in a research report on Friday, July 17th. DA Davidson boosted their price target on U.S. Bancorp from $72.00 to $74.00 and gave the stock a "buy" rating in a research note on Friday, July 17th. Truist Financial upped their price objective 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. Robert W. Baird increased their price objective on shares of U.S. Bancorp from $64.00 to $68.00 and gave the company a "neutral" rating in a research report on Friday, July 17th. Finally, Citigroup reaffirmed a "buy" rating on shares of U.S. Bancorp in a research report on Tuesday, July 21st. One investment 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $67.06.

Insider Activity at U.S. Bancorp

In other news, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the transaction, the executive vice president directly owned 51,292 shares of the company's stock, valued at $2,847,731.84. The trade was a 40.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen L. Philipson sold 36,906 shares of the business's stock in a transaction 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 of the company's stock, valued at approximately $4,729,044.52. This represents a 32.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by insiders.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $62.86 on Thursday. U.S. Bancorp has a 52-week low of $43.46 and a 52-week high of $64.84. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96. The stock has a market cap of $97.50 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 1.06 and a beta of 0.96. The business has a 50-day simple moving average of $59.49 and a 200-day simple moving average of $56.60.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.28 by $0.07. The firm had revenue of $7.71 billion for the quarter, compared to analyst estimates 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 last year, the company earned $1.11 earnings per share. On average, equities analysts expect that U.S. Bancorp will post 5.22 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.52 per share. 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 (DPR) is presently 41.52%.

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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