Edgar Lomax Co. VA Has $4.48 Million Position in U.S. Bancorp $USB

Key Points

• Edgar Lomax Co. VA reduced its stake in U.S. Bancorp by 54.9% in the 1st quarter, now owning 105,996 shares valued at approximately $4.48 million.
• Several large institutional investors, including Vanguard Group Inc. and Goldman Sachs Group Inc., have increased their holdings in U.S. Bancorp, reflecting a strong interest as institutional ownership of the stock stands at 77.60%.
• U.S. Bancorp announced a quarterly dividend of $0.50 per share, with a 4.4% yield, while the company reported $1.11 EPS for the last quarter, exceeding analysts' expectations.

Edgar Lomax Co. VA reduced its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 54.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,996 shares of the financial services provider's stock after selling 129,140 shares during the quarter. Edgar Lomax Co. VA's holdings in U.S. Bancorp were worth $4,475,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in U.S. Bancorp by 1.7% in the first quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider's stock valued at $5,962,742,000 after acquiring an additional 2,393,383 shares during the last quarter. Northern Trust Corp boosted 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 valued at $815,529,000 after acquiring an additional 1,670,305 shares during the last quarter. Davis Selected Advisers boosted its holdings in U.S. Bancorp by 3.6% in the first quarter. Davis Selected Advisers now owns 14,889,014 shares of the financial services provider's stock valued at $628,614,000 after acquiring an additional 513,875 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in U.S. Bancorp by 11.9% in the fourth 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 valued at $601,458,000 after acquiring an additional 1,339,493 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in U.S. Bancorp by 10.5% in the first quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider's stock valued at $464,953,000 after acquiring an additional 1,045,509 shares during the last quarter. Institutional investors own 77.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on USB shares. Truist Financial raised their target price on U.S. Bancorp from $48.00 to $50.00 and gave the stock a "hold" rating in a report on Wednesday, July 9th. DA Davidson raised their target price on U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Evercore ISI raised 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. Morgan Stanley raised their target price on U.S. Bancorp from $51.00 to $52.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Finally, TD Cowen assumed coverage on U.S. Bancorp in a research report on Thursday, May 15th. They set a "buy" rating and a $60.00 price target on the stock. One equities research 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. Based on data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of "Moderate Buy" and an average target price of $52.55.

U.S. Bancorp Stock Down 1.9%

Shares of NYSE:USB opened at $45.96 on Monday. The business's 50 day simple moving average is $45.46 and its two-hundred day simple moving average is $43.80. The firm has a market cap of $71.52 billion, a P/E ratio of 11.00, a PEG ratio of 1.44 and a beta of 1.01. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98.

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

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a dividend of $0.50 per share. The ex-dividend date was Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.4%. U.S. Bancorp's dividend payout ratio (DPR) is presently 47.85%.

Insiders Place Their Bets

In related news, EVP Souheil Badran sold 23,727 shares of the business's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the transaction, the executive vice president owned 70,346 shares in the company, valued at $3,259,833.64. The trade was a 25.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.23% of the stock is owned by insiders.

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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