Groupama Asset Managment Invests $912,000 in U.S. Bancorp $USB

Key Points

• Groupama Asset Management initiated a U.S. Bancorp stake worth approximately $912,000 by purchasing 17,543 shares during the first quarter. Institutional investors collectively own 77.6% of the bank’s outstanding stock.
• U.S. Bancorp reported quarterly earnings of $1.35 per share, beating estimates of $1.28, while revenue reached $7.71 billion versus the $7.58 billion consensus forecast.
• The company pays a quarterly dividend of $0.52 per share, equivalent to a 3.3% annual yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $67.06, while two insiders recently sold shares.

Groupama Asset Managment bought a new stake in shares of U.S. Bancorp (NYSE:USB - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 17,543 shares of the financial services provider's stock, valued at approximately $912,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Clayton Financial Group LLC bought a new stake in U.S. Bancorp in the 4th quarter worth approximately $25,000. Financial Life Planners bought a new position in shares of U.S. Bancorp during the 1st quarter valued at approximately $27,000. Main Street Group LTD purchased a new position in shares of U.S. Bancorp in the first quarter valued at $28,000. JPL Wealth Management LLC purchased a new position in shares of U.S. Bancorp in the third quarter valued at $28,000. Finally, Binnacle Investments Inc increased its position in U.S. Bancorp by 77.8% in the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider's stock worth $30,000 after purchasing an additional 273 shares during the last quarter. 77.60% of the stock is owned by institutional investors.

Insider Transactions at U.S. Bancorp

In related news, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the sale, the executive vice president directly owned 51,292 shares of the company's stock, valued at $2,847,731.84. This represents a 40.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stephen L. Philipson sold 36,906 shares of the firm's stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the completion of the sale, the insider directly owned 74,969 shares of the company's stock, valued at approximately $4,729,044.52. The trade was a 32.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by insiders.

U.S. Bancorp Stock Performance

NYSE:USB opened at $63.00 on Friday. The firm has a market capitalization of $97.72 billion, a PE ratio of 12.58, a PEG ratio of 1.03 and a beta of 0.96. The stock's fifty day moving average is $59.82 and its 200 day moving average is $56.70. U.S. Bancorp has a fifty-two week low of $43.46 and a fifty-two week high of $64.84. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.82 and a current ratio of 0.83.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The company had revenue of $7.71 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same period in the previous year, the firm earned $1.11 earnings per share. On average, sell-side analysts anticipate that U.S. Bancorp will post 5.22 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Tuesday, June 30th. U.S. Bancorp's dividend payout ratio (DPR) is 41.52%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. CLSA set a $67.50 price target on shares of U.S. Bancorp in a research note on Monday, July 20th. Wall Street Zen raised shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Monday, July 6th. BTIG Research set a $67.50 target price on shares of U.S. Bancorp in a report on Monday, July 20th. Robert W. Baird upped their target price on shares of U.S. Bancorp from $64.00 to $68.00 and gave the company a "neutral" rating in a research report on Friday, July 17th. Finally, Truist Financial increased their price target on shares of U.S. Bancorp from $66.00 to $69.00 and gave the company a "buy" rating in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, U.S. Bancorp has an average rating of "Moderate Buy" and a consensus price target of $67.06.

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.

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