Fjarde AP Fonden Fourth Swedish National Pension Fund Boosts Holdings in U.S. Bancorp $USB

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in U.S. Bancorp (NYSE:USB - Free Report) by 68.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 416,419 shares of the financial services provider's stock after acquiring an additional 169,300 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in U.S. Bancorp were worth $21,658,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Elevation Point Wealth Partners LLC raised its holdings in shares of U.S. Bancorp by 130.8% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 30,251 shares of the financial services provider's stock worth $1,583,000 after purchasing an additional 17,146 shares during the period. Platform Technology Partners purchased a new position in U.S. Bancorp in the first quarter valued at approximately $265,000. DSG Capital Advisors LLC grew its holdings in U.S. Bancorp by 14.5% during the first quarter. DSG Capital Advisors LLC now owns 29,415 shares of the financial services provider's stock valued at $1,530,000 after purchasing an additional 3,735 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. increased its position in U.S. Bancorp by 17.9% in the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 68,485 shares of the financial services provider's stock worth $3,562,000 after buying an additional 10,381 shares during the last quarter. Finally, Eagle Bay Advisors LLC increased its position in U.S. Bancorp by 11.3% in the first quarter. Eagle Bay Advisors LLC now owns 4,202 shares of the financial services provider's stock worth $221,000 after buying an additional 428 shares during the last quarter. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $61.67 on Friday. U.S. Bancorp has a one year low of $43.46 and a one year high of $62.38. The business has a fifty day moving average price of $56.57 and a 200-day moving average price of $55.50. 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 $95.67 billion, a P/E ratio of 12.93, a PEG ratio of 1.07 and a beta of 0.96.

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

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, June 30th. U.S. Bancorp's payout ratio is presently 43.61%.

Insider Activity

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

Analysts Set New Price Targets

A number of research analysts have recently commented on USB shares. Morgan Stanley upped their price target on U.S. Bancorp from $64.00 to $67.00 and gave the company an "equal weight" rating in a research report on Monday. Barclays lifted their price objective on U.S. Bancorp from $65.00 to $67.00 and gave the stock an "overweight" rating in a report on Friday, April 17th. DA Davidson restated a "buy" rating and issued a $65.00 price objective on shares of U.S. Bancorp in a research note on Friday, April 17th. Weiss Ratings raised shares of U.S. Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, May 4th. Finally, Truist Financial increased their target price on shares of U.S. Bancorp from $62.00 to $66.00 and gave the stock a "buy" rating in a research report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.57.

About U.S. Bancorp

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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