Fideuram Asset Management Ireland dac Makes New $1.27 Million Investment in U.S. Bancorp $USB

Key Points

• Fideuram Asset Management Ireland dac opened a new position in U.S. Bancorp, buying 23,829 shares worth about $1.27 million in the fourth quarter.
• U.S. Bancorp reported better-than-expected quarterly results, posting EPS of $1.18 versus $1.14 expected and revenue of $7.32 billion versus $7.27 billion expected.
• The bank also declared a quarterly dividend of $0.52 per share, implying an annualized yield of about 3.8%.

Fideuram Asset Management Ireland dac bought a new position in U.S. Bancorp (NYSE:USB - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 23,829 shares of the financial services provider's stock, valued at approximately $1,272,000.

Other large investors have also recently bought and sold shares of the company. Citigroup Inc. raised its holdings in shares of U.S. Bancorp by 2.4% during the third quarter. Citigroup Inc. now owns 1,749,812 shares of the financial services provider's stock valued at $84,568,000 after buying an additional 41,803 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of U.S. Bancorp by 15.3% during the third quarter. Jones Financial Companies Lllp now owns 358,972 shares of the financial services provider's stock valued at $17,738,000 after buying an additional 47,537 shares during the last quarter. Danske Bank A S bought a new stake in shares of U.S. Bancorp during the third quarter valued at approximately $37,162,000. Roman Butler Fullerton & Co. bought a new stake in shares of U.S. Bancorp during the third quarter valued at approximately $893,000. Finally, Nordea Investment Management AB raised its holdings in shares of U.S. Bancorp by 15.3% during the fourth quarter. Nordea Investment Management AB now owns 2,690,174 shares of the financial services provider's stock valued at $144,462,000 after buying an additional 357,300 shares during the last quarter. Institutional investors own 77.60% of the company's stock.

U.S. Bancorp Price Performance

NYSE USB opened at $54.87 on Friday. U.S. Bancorp has a 12 month low of $42.55 and a 12 month high of $61.19. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $85.17 billion, a PE ratio of 11.50, a P/E/G ratio of 0.98 and a beta of 1.00. The company's 50 day simple moving average is $54.42 and its 200 day simple moving average is $53.92.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, beating analysts' consensus estimates of $1.14 by $0.04. The business had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The business's revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the business earned $1.03 earnings per share. As a group, equities research analysts forecast that U.S. Bancorp will post 5.09 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a $0.52 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $2.08 annualized dividend and a yield of 3.8%. U.S. Bancorp's payout ratio is 43.61%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on USB shares. Barclays lifted their price target on U.S. Bancorp from $65.00 to $67.00 and gave the company an "overweight" rating in a report on Friday, April 17th. Oppenheimer raised their price objective on shares of U.S. Bancorp from $73.00 to $74.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Truist Financial lowered their price objective on shares of U.S. Bancorp from $63.00 to $62.00 and set a "buy" rating on the stock in a research note on Friday, April 17th. Morgan Stanley set a $64.00 price objective on shares of U.S. Bancorp in a research note on Friday, April 17th. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $60.00 price objective on shares of U.S. Bancorp in a research note on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $61.20.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 40,000 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the transaction, the insider owned 207,251 shares in the company, valued at approximately $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the transaction, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.