Franklin Resources Inc. Increases Holdings in U.S. Bancorp $USB

Key Points

• Franklin Resources increased its U.S. Bancorp stake by 1.7% in the fourth quarter, ending with 7.79 million shares valued at about $415.7 million.
• Institutional ownership remains high, with hedge funds and other investors holding 77.6% of U.S. Bancorp shares; several other firms also added small new positions or increased holdings.
• U.S. Bancorp’s latest quarterly results beat expectations, with EPS of $1.18 on revenue of $7.32 billion, while analysts currently rate the stock a Moderate Buy with a consensus target price of $61.20.

Franklin Resources Inc. grew its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 1.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 7,789,798 shares of the financial services provider's stock after acquiring an additional 127,065 shares during the quarter. Franklin Resources Inc. owned about 0.50% of U.S. Bancorp worth $415,664,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Life Planners acquired a new position in U.S. Bancorp in the third quarter valued at approximately $25,000. Clayton Financial Group LLC acquired a new stake in U.S. Bancorp during the fourth quarter worth approximately $25,000. JPL Wealth Management LLC purchased a new stake in shares of U.S. Bancorp during the 3rd quarter worth approximately $28,000. Binnacle Investments Inc lifted its position in shares of U.S. Bancorp by 77.8% during the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider's stock worth $30,000 after buying an additional 273 shares during the last quarter. Finally, Westfuller Advisors LLC boosted its holdings in shares of U.S. Bancorp by 54.7% in the 4th quarter. Westfuller Advisors LLC now owns 608 shares of the financial services provider's stock valued at $33,000 after buying an additional 215 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wall Street Zen lowered shares of U.S. Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday. Piper Sandler reaffirmed a "buy" rating on shares of U.S. Bancorp in a report on Thursday, February 26th. Weiss Ratings upgraded U.S. Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 4th. JPMorgan Chase & Co. decreased their target price on U.S. Bancorp from $58.00 to $57.50 and set an "underweight" rating for the company in a research report on Thursday, April 30th. Finally, Royal Bank Of Canada raised their price target on U.S. Bancorp from $59.00 to $61.00 and gave the stock an "outperform" rating in a research note on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $61.20.

Insider Buying and Selling

In other U.S. Bancorp news, 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 value of $1,916,661.44. Following the transaction, the executive vice president directly owned 51,292 shares in the company, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jodi L. Richard sold 40,000 shares of the business'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. The trade was a 16.18% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by company insiders.

U.S. Bancorp Trading Down 0.6%

NYSE USB opened at $55.34 on Tuesday. The firm's fifty day moving average is $54.79 and its two-hundred day moving average is $54.29. U.S. Bancorp has a one year low of $42.55 and a one year high of $61.19. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $85.83 billion, a PE ratio of 11.60, a P/E/G ratio of 1.00 and a beta of 0.97.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.04. The business had revenue of $7.32 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.03 earnings per share. Analysts expect that U.S. Bancorp will post 5.09 earnings per share for the current year.

U.S. Bancorp 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.