Dearborn Partners LLC Invests $1.06 Million in U.S. Bancorp $USB

Dearborn Partners LLC acquired a new stake in shares of U.S. Bancorp (NYSE:USB - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 20,481 shares of the financial services provider's stock, valued at approximately $1,065,000.

A number of other large investors also recently modified their holdings of the company. Dogwood Wealth Management LLC raised its holdings in U.S. Bancorp by 32.9% during the second quarter. Dogwood Wealth Management LLC now owns 687 shares of the financial services provider's stock valued at $41,000 after acquiring an additional 170 shares during the period. Paulson Wealth Management Inc. lifted its position in shares of U.S. Bancorp by 2.0% in the fourth quarter. Paulson Wealth Management Inc. now owns 8,780 shares of the financial services provider's stock valued at $469,000 after acquiring an additional 173 shares in the last quarter. Flputnam Investment Management Co. boosted its stake in shares of U.S. Bancorp by 1.4% in the fourth quarter. Flputnam Investment Management Co. now owns 13,721 shares of the financial services provider's stock worth $732,000 after acquiring an additional 186 shares during the period. Formidable Asset Management LLC boosted its stake in shares of U.S. Bancorp by 0.8% in the first quarter. Formidable Asset Management LLC now owns 23,373 shares of the financial services provider's stock worth $1,247,000 after acquiring an additional 186 shares during the period. Finally, FAS Wealth Partners Inc. grew its position in shares of U.S. Bancorp by 0.9% during the first quarter. FAS Wealth Partners Inc. now owns 19,964 shares of the financial services provider's stock worth $1,038,000 after purchasing an additional 186 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

U.S. Bancorp Stock Up 0.6%

Shares of NYSE USB opened at $62.42 on Tuesday. The firm's 50-day moving average price is $62.49 and its 200-day moving average price is $57.66. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $97.26 billion, a price-to-earnings ratio of 12.46, a P/E/G ratio of 1.02 and a beta of 0.96. U.S. Bancorp has a 12-month low of $45.02 and a 12-month high of $66.07.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly 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. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.The company had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same quarter last year, the business posted $1.11 earnings per share. On average, equities research analysts anticipate that U.S. Bancorp will post 5.22 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $0.52 dividend. The ex-dividend date 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 payout ratio is 41.52%.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Stephen L. Philipson sold 36,906 shares of the business's stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the transaction, the insider owned 74,969 shares of the company's stock, valued at approximately $4,729,044.52. The trade was a 32.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.21% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on USB. Keefe, Bruyette & Woods lifted their target price on U.S. Bancorp from $63.00 to $66.00 and gave the company a "market perform" rating in a research note on Friday, July 17th. Truist Financial increased 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. UBS Group lifted their price objective on shares of U.S. Bancorp from $58.00 to $66.00 and gave the company a "neutral" rating in a research report on Tuesday, July 7th. Evercore raised shares of U.S. Bancorp from an "in-line" rating to an "outperform" rating and set a $72.00 target price on the stock in a report on Monday, July 20th. Finally, Oppenheimer raised their target price on shares of U.S. Bancorp from $73.00 to $77.00 and gave the company an "outperform" rating in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, U.S. Bancorp presently has an average rating of "Moderate Buy" and an average price target of $67.06.

U.S. Bancorp Company 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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