Mediolanum International Funds Ltd Raises Stock Position in U.S. Bancorp (NYSE:USB)

Key Points

• Mediolanum International Funds Ltd increased its stake in U.S. Bancorp by 53.8%, owning 50,092 shares valued at approximately $2.1 million after acquiring an additional 17,529 shares in the first quarter.
• U.S. Bancorp reported earnings of $1.11 per share for the last quarter, surpassing analyst expectations of $1.07, while its revenue was slightly below forecasts at $7.06 billion.
• The company also announced a quarterly dividend of $0.50 per share, representing an annualized dividend yield of 4.34% with a payout ratio of 47.85%.

Mediolanum International Funds Ltd grew its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 53.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,092 shares of the financial services provider's stock after buying an additional 17,529 shares during the quarter. Mediolanum International Funds Ltd's holdings in U.S. Bancorp were worth $2,117,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Covestor Ltd boosted its position in shares of U.S. Bancorp by 12.3% during the 4th quarter. Covestor Ltd now owns 1,955 shares of the financial services provider's stock worth $94,000 after purchasing an additional 214 shares in the last quarter. TrinityPoint Wealth LLC lifted its stake in shares of U.S. Bancorp by 2.3% in the fourth quarter. TrinityPoint Wealth LLC now owns 10,355 shares of the financial services provider's stock valued at $495,000 after purchasing an additional 231 shares during the period. CoreCap Advisors LLC boosted its holdings in U.S. Bancorp by 36.6% during the fourth quarter. CoreCap Advisors LLC now owns 904 shares of the financial services provider's stock worth $43,000 after buying an additional 242 shares in the last quarter. Bestgate Wealth Advisors LLC grew its position in U.S. Bancorp by 3.3% during the first quarter. Bestgate Wealth Advisors LLC now owns 8,031 shares of the financial services provider's stock worth $339,000 after buying an additional 253 shares during the period. Finally, YANKCOM Partnership grew its position in U.S. Bancorp by 59.4% during the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock worth $29,000 after buying an additional 260 shares during the period. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Piper Sandler decreased their target price on U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Morgan Stanley upped their target price on U.S. Bancorp from $51.00 to $52.00 and gave the company an "overweight" rating in a report on Friday, July 18th. DA Davidson lifted their price target on U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Finally, Wolfe Research upgraded shares of U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 price objective on the stock in a research report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, U.S. Bancorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.55.

Insider Buying and Selling

In other news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $46.34, for a total value of $1,099,509.18. Following the transaction, the executive vice president directly owned 70,346 shares of the company's stock, valued at $3,259,833.64. The trade was a 25.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Trading Down 2.6%

Shares of USB stock traded down $1.17 during trading hours on Friday, hitting $43.80. 4,280,761 shares of the company were exchanged, compared to its average volume of 10,877,997. The firm has a fifty day moving average of $45.15 and a 200 day moving average of $44.15. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The firm has a market cap of $68.23 billion, a PE ratio of 10.48, a PEG ratio of 1.44 and a beta of 0.99.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.04. The company had revenue of $7.06 billion for the quarter, compared to analyst estimates of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. U.S. Bancorp's revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the business earned $0.98 EPS. Analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, June 30th. This represents a $2.00 annualized dividend and a yield of 4.6%. U.S. Bancorp's dividend payout ratio is currently 47.85%.

U.S. Bancorp 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.