Crossmark Global Holdings Inc. Acquires 137,331 Shares of U.S. Bancorp (NYSE:USB)

Crossmark Global Holdings Inc. grew its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 136.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 238,231 shares of the financial services provider's stock after purchasing an additional 137,331 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in U.S. Bancorp were worth $10,058,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new position in U.S. Bancorp in the 4th quarter worth about $777,524,000. Invesco Ltd. boosted its position in shares of 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 acquiring an additional 5,449,949 shares during the last quarter. Marshall Wace LLP boosted its position in shares of U.S. Bancorp by 414.1% during the 4th quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider's stock valued at $276,915,000 after acquiring an additional 4,663,518 shares during the last quarter. FMR LLC boosted its position in shares of U.S. Bancorp by 5.0% during 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 during the last quarter. Finally, Madison Investment Advisors LLC bought a new stake in shares of U.S. Bancorp during the 4th quarter valued at about $96,560,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on USB shares. Wall Street Zen downgraded U.S. Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday, June 7th. The Goldman Sachs Group boosted their price objective on U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a research report on Tuesday, June 10th. Evercore ISI boosted their price objective on U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a research report on Wednesday, June 4th. Truist Financial boosted their target price on U.S. Bancorp from $48.00 to $50.00 and gave the company a "hold" rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. reissued an "underweight" rating and set a $43.50 target price (down from $51.00) on shares of U.S. Bancorp in a research note on Thursday, April 3rd. Two equities research analysts have 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 stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $51.70.

Insiders Place Their Bets

In related news, Director Aleem Gillani acquired 5,000 shares of the stock in a transaction dated Monday, April 21st. The stock was acquired at an average cost of $37.32 per share, with a total value of $186,600.00. Following the purchase, the director directly owned 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Price Performance

Shares of NYSE:USB traded down $0.44 during trading on Friday, hitting $47.13. 11,510,101 shares of the company's stock were exchanged, compared to its average volume of 9,408,920. 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 business's 50-day simple moving average is $44.39 and its 200 day simple moving average is $44.39. The company has a market cap of $73.43 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 1.79 and a beta of 0.99.

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 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.06. The business had revenue of $6.96 billion during the quarter, compared to analysts' expectations 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 EPS. As a group, equities analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.24%. The ex-dividend date of this dividend is Monday, June 30th. U.S. Bancorp's dividend payout ratio is presently 49.50%.

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.