Federated Hermes Inc. Has $400.48 Million Stock Position in U.S. Bancorp (NYSE:USB)

Key Points

• Federated Hermes Inc. increased its investment in U.S. Bancorp by 0.3%, owning 9,485,614 shares valued at $400.48 million, making it the firm's 18th largest holding.
• Significant institutional interest was noted, with hedge funds like Invesco and Marshall Wace increasing their shares by 48.1% and 414.1% respectively during the previous quarter.
• The company recently reported an EPS of $1.11, surpassing expectations, and announced a quarterly dividend of $0.50 with a yield of 4.34% for investors.

Federated Hermes Inc. lifted its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 0.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,485,614 shares of the financial services provider's stock after buying an additional 27,566 shares during the period. U.S. Bancorp makes up approximately 0.9% of Federated Hermes Inc.'s holdings, making the stock its 18th largest position. Federated Hermes Inc. owned approximately 0.61% of U.S. Bancorp worth $400,483,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. FMR LLC increased its holdings in U.S. Bancorp by 5.0% in the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock valued at $3,210,624,000 after buying an additional 3,211,815 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of U.S. Bancorp by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 33,937,360 shares of the financial services provider's stock worth $1,618,948,000 after purchasing an additional 850,763 shares in the last quarter. Northern Trust Corp increased its stake in shares of U.S. Bancorp by 10.9% during the 4th quarter. Northern Trust Corp now owns 17,050,568 shares of the financial services provider's stock worth $815,529,000 after purchasing an additional 1,670,305 shares in the last quarter. Invesco Ltd. increased its stake 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 worth $802,947,000 after purchasing an additional 5,449,949 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC increased its stake in shares of U.S. Bancorp by 0.9% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 12,935,847 shares of the financial services provider's stock worth $618,722,000 after purchasing an additional 120,543 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

Insider Activity

In other news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction on Monday, July 21st. The shares were sold at an average price of $46.34, for a total value of $1,099,509.18. Following the completion of the transaction, the executive vice president owned 70,346 shares in the company, valued at approximately $3,259,833.64. This represents a 25.22% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.23% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Raymond James Financial raised shares of U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and raised their price objective for the stock from $51.00 to $57.00 in a research note on Monday, July 7th. The Goldman Sachs Group raised their target price on shares of U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 10th. JPMorgan Chase & Co. restated an "underweight" rating and set a $43.50 target price (down previously from $51.00) on shares of U.S. Bancorp in a research report on Thursday, April 3rd. Royal Bank Of Canada decreased their target price on shares of U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Finally, Oppenheimer raised their target price 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. One investment analyst has 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 company's stock. According to MarketBeat, U.S. Bancorp currently has an average rating of "Moderate Buy" and an average target price of $52.55.

U.S. Bancorp Stock Down 2.3%

USB stock traded down $1.03 during trading hours on Friday, hitting $43.93. The company's stock had a trading volume of 6,012,083 shares, compared to its average volume of 10,890,015. 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 company has a market capitalization of $68.45 billion, a PE ratio of 10.52, a price-to-earnings-growth ratio of 1.44 and a beta of 0.99. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The stock has a 50 day moving average price of $45.15 and a two-hundred day moving average price of $44.15.

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

U.S. Bancorp Announces Dividend

The firm 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. The ex-dividend date was Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.6%. U.S. Bancorp's dividend payout ratio is currently 47.85%.

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.