Commerce Bank lowered its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 6.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 384,620 shares of the financial services provider's stock after selling 27,026 shares during the period. Commerce Bank's holdings in U.S. Bancorp were worth $16,239,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Covestor Ltd boosted its position in shares of U.S. Bancorp by 12.3% in the 4th quarter. Covestor Ltd now owns 1,955 shares of the financial services provider's stock valued at $94,000 after purchasing an additional 214 shares during the period. TrinityPoint Wealth LLC boosted its position in shares of U.S. Bancorp by 2.3% in the 4th quarter. TrinityPoint Wealth LLC now owns 10,355 shares of the financial services provider's stock worth $495,000 after purchasing an additional 231 shares during the last quarter. CoreCap Advisors LLC boosted its holdings in U.S. Bancorp by 36.6% during the fourth quarter. CoreCap Advisors LLC now owns 904 shares of the financial services provider's stock worth $43,000 after purchasing an additional 242 shares during the last quarter. Bestgate Wealth Advisors LLC grew its position in shares of U.S. Bancorp by 3.3% in the 1st quarter. Bestgate Wealth Advisors LLC now owns 8,031 shares of the financial services provider's stock valued at $339,000 after acquiring an additional 253 shares during the period. Finally, Atlantic Family Wealth LLC lifted its stake in shares of U.S. Bancorp by 4.2% during the 1st quarter. Atlantic Family Wealth LLC now owns 6,312 shares of the financial services provider's stock worth $266,000 after buying an additional 254 shares during the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts recently commented on the company. Oppenheimer upped their price objective on shares of U.S. Bancorp from $66.00 to $67.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Truist Financial upped their price target on U.S. Bancorp from $48.00 to $50.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. TD Cowen initiated coverage on shares of U.S. Bancorp in a research note on Thursday, May 15th. They issued a "buy" rating and a $60.00 price objective for the company. Raymond James Financial upgraded shares of U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and upped their target price for the stock from $51.00 to $57.00 in a research note on Monday, July 7th. Finally, DA Davidson lifted their target price on U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $52.55.
Read Our Latest Stock Report on USB
U.S. Bancorp Price Performance
Shares of NYSE USB traded up $0.49 during trading on Monday, hitting $44.43. The company had a trading volume of 6,515,682 shares, compared to its average volume of 12,313,843. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16. The stock has a fifty day simple moving average of $45.17 and a two-hundred day simple moving average of $44.04. The firm has a market capitalization of $69.22 billion, a price-to-earnings ratio of 10.63, a price-to-earnings-growth ratio of 1.38 and a beta of 1.01. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98.
U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $1.07 by $0.04. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%. The firm had revenue of $7.06 billion during the quarter, compared to analysts' expectations of $7.07 billion. During the same quarter last year, the firm earned $0.98 earnings per share. The business's revenue for the quarter was up 2.0% on a year-over-year basis. On average, research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.
U.S. Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Monday, June 30th. U.S. Bancorp's dividend payout ratio (DPR) is presently 47.85%.
Insider Activity
In other news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp stock in a transaction 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 directly owned 70,346 shares of the company's stock, valued at approximately $3,259,833.64. The trade was a 25.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.23% of the company's stock.
U.S. Bancorp Company Profile
(
Free Report)
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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