Banque Cantonale Vaudoise Buys New Position in U.S. Bancorp (NYSE:USB)

Key Points

• Banque Cantonale Vaudoise has established a new position in U.S. Bancorp, acquiring 26,964 shares valued at approximately $1,139,000 in the first quarter.
• Over 77% of U.S. Bancorp's stock is held by institutional investors, with several major firms like FMR LLC and Invesco Ltd. increasing their stakes significantly in the last quarter.
• U.S. Bancorp recently reported an EPS of $1.11 for the quarter, exceeding analysts' estimates, and declared a quarterly dividend of $0.50 per share.

Banque Cantonale Vaudoise bought a new position in shares of U.S. Bancorp (NYSE:USB - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 26,964 shares of the financial services provider's stock, valued at approximately $1,139,000.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC increased its stake in shares of U.S. Bancorp by 5.0% in the 4th 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. Northern Trust Corp grew its holdings in U.S. Bancorp by 10.9% in the fourth quarter. Northern Trust Corp now owns 17,050,568 shares of the financial services provider's stock worth $815,529,000 after purchasing an additional 1,670,305 shares during the period. Invesco Ltd. increased its stake in U.S. Bancorp by 48.1% in the fourth 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 in the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its holdings in shares of U.S. Bancorp by 0.9% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 12,935,847 shares of the financial services provider's stock valued at $618,722,000 after purchasing an additional 120,543 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of U.S. Bancorp by 11.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,574,919 shares of the financial services provider's stock worth $601,458,000 after purchasing an additional 1,339,493 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the completion of the sale, the executive vice president owned 70,346 shares in the company, valued at $3,259,833.64. This trade represents a 25.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.23% of the stock is owned by corporate insiders.

Analyst Ratings Changes

USB has been the subject of a number of research analyst reports. Piper Sandler decreased their target price on U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Wall Street Zen upgraded U.S. Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Evercore ISI increased their target price on U.S. Bancorp from $44.00 to $49.00 and gave the stock an "in-line" rating in a report on Wednesday, June 4th. Oppenheimer lifted their price target on shares of U.S. Bancorp from $66.00 to $67.00 and gave the company an "outperform" rating in a research report on Wednesday. Finally, TD Cowen initiated coverage on shares of U.S. Bancorp in a report on Thursday, May 15th. They set a "buy" rating and a $60.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $52.55.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $44.92 on Friday. The business's fifty day simple moving average is $45.15 and its 200 day simple moving average is $44.15. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.16. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The firm has a market capitalization of $69.99 billion, a P/E ratio of 10.75, a price-to-earnings-growth ratio of 1.44 and a beta of 0.99.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.04. The company had revenue of $7.06 billion for the quarter, compared to analysts' expectations of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%. The business's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.98 EPS. As a group, analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, June 30th. U.S. Bancorp's dividend payout ratio is currently 47.85%.

About U.S. Bancorp

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.

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