Covea Finance Purchases New Position in U.S. Bancorp (NYSE:USB)

Covea Finance acquired a new stake in shares of U.S. Bancorp (NYSE:USB - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 84,000 shares of the financial services provider's stock, valued at approximately $3,546,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of USB. Brighton Jones LLC grew its stake in shares of U.S. Bancorp by 323.0% during the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider's stock valued at $2,309,000 after buying an additional 36,863 shares during the last quarter. Venturi Wealth Management LLC grew its stake in shares of U.S. Bancorp by 310.3% during the fourth quarter. Venturi Wealth Management LLC now owns 7,911 shares of the financial services provider's stock valued at $378,000 after buying an additional 5,983 shares during the last quarter. Atria Wealth Solutions Inc. grew its stake in shares of U.S. Bancorp by 24.0% during the fourth quarter. Atria Wealth Solutions Inc. now owns 69,160 shares of the financial services provider's stock valued at $3,323,000 after buying an additional 13,396 shares during the last quarter. Global Retirement Partners LLC grew its stake in shares of U.S. Bancorp by 4.4% during the fourth quarter. Global Retirement Partners LLC now owns 39,160 shares of the financial services provider's stock valued at $1,873,000 after buying an additional 1,649 shares during the last quarter. Finally, Private Advisor Group LLC grew its stake in shares of U.S. Bancorp by 2.4% during the fourth quarter. Private Advisor Group LLC now owns 117,252 shares of the financial services provider's stock valued at $5,608,000 after buying an additional 2,709 shares during the last quarter. 77.60% of the stock is owned by institutional investors.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani bought 5,000 shares of the firm's stock in a transaction on Monday, April 21st. The stock was acquired at an average price of $37.32 per share, with a total value of $186,600.00. Following the completion of the purchase, the director now owns 15,000 shares of the company's stock, valued at approximately $559,800. This trade represents a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.23% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Royal Bank Of Canada dropped their target price on shares of U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. Raymond James Financial reiterated an "outperform" rating and set a $51.00 target price (down from $57.00) on shares of U.S. Bancorp in a report on Thursday, April 17th. Morgan Stanley dropped their target price on shares of U.S. Bancorp from $51.00 to $50.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. DA Davidson dropped their target price on shares of U.S. Bancorp from $54.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Finally, Truist Financial dropped their target price on shares of U.S. Bancorp from $51.00 to $48.00 and set a "hold" rating for the company in a report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, U.S. Bancorp currently has an average rating of "Moderate Buy" and an average target price of $50.72.

U.S. Bancorp Stock Up 0.2%

USB traded up $0.07 on Friday, hitting $43.34. The company had a trading volume of 21,354,696 shares, compared to its average volume of 9,171,085. 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 has a 52-week low of $35.18 and a 52-week high of $53.98. The stock has a fifty day simple moving average of $42.25 and a 200-day simple moving average of $44.73. The firm has a market capitalization of $67.53 billion, a P/E ratio of 10.73, a P/E/G ratio of 1.63 and a beta of 0.99.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.97 by $0.06. U.S. Bancorp had a net margin of 15.70% and a return on equity of 13.02%. The business had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.92 billion. During the same quarter last year, the firm earned $0.78 earnings per share. As a group, equities analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date is Monday, June 30th. U.S. Bancorp's dividend payout ratio is 49.50%.

U.S. Bancorp Company 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.