U.S. Bancorp (NYSE:USB) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC boosted its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 4,160.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,547,616 shares of the financial services provider's stock after purchasing an additional 1,511,293 shares during the period. GAMMA Investing LLC owned about 0.10% of U.S. Bancorp worth $65,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in USB. Norges Bank acquired a new position in U.S. Bancorp during the fourth quarter valued at $777,524,000. Invesco Ltd. raised its position in shares of U.S. Bancorp by 48.1% in the fourth quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider's stock worth $802,947,000 after acquiring an additional 5,449,949 shares during the period. Marshall Wace LLP raised its position in shares of U.S. Bancorp by 414.1% in the fourth quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider's stock worth $276,915,000 after acquiring an additional 4,663,518 shares during the period. Raymond James Financial Inc. acquired a new position in shares of U.S. Bancorp in the fourth quarter worth about $184,733,000. Finally, FMR LLC raised its position in shares of 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 worth $3,210,624,000 after acquiring an additional 3,211,815 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Truist Financial reduced their price target on shares of U.S. Bancorp from $51.00 to $48.00 and set a "hold" rating for the company in a research report on Thursday, April 17th. DA Davidson dropped their price objective on shares of U.S. Bancorp from $54.00 to $49.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Royal Bank of Canada dropped their price objective on shares of U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Barclays dropped their price objective on shares of U.S. Bancorp from $61.00 to $56.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Finally, Raymond James reaffirmed an "outperform" rating and set a $51.00 price objective (down previously from $57.00) on shares of U.S. Bancorp in a research note on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $50.67.

Insiders Place Their Bets

In other U.S. Bancorp news, Director Aleem Gillani bought 5,000 shares of U.S. Bancorp stock in a transaction on Monday, April 21st. The shares were bought at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the acquisition, the director now directly owns 15,000 shares in the company, valued at $559,800. This represents a 50.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Stock Down 1.1%

Shares of NYSE USB traded down $0.47 during midday trading on Wednesday, hitting $43.91. The company's stock had a trading volume of 6,976,112 shares, compared to its average volume of 9,094,630. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The business's fifty day simple moving average is $41.03 and its two-hundred day simple moving average is $45.50. The firm has a market capitalization of $68.41 billion, a price-to-earnings ratio of 11.59, a price-to-earnings-growth ratio of 1.73 and a beta of 0.97. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.06. The company had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.92 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. During the same period in the prior year, the business earned $0.78 EPS. On average, equities analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.50 per share. The ex-dividend date was Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.55%. U.S. Bancorp's dividend payout ratio (DPR) is presently 49.50%.

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.