3,272,926 Shares in U.S. Bancorp (NYSE:USB) Bought by Nuveen LLC

Key Points

• Nuveen LLC acquired a new stake in U.S. Bancorp, purchasing approximately 3.27 million shares valued at around $138.2 million, amounting to 0.21% ownership by the end of the most recent quarter.
• U.S. Bancorp reported a quarterly EPS of $1.11, surpassing analysts' expectations of $1.07, with revenues of $7.06 billion.
• The company declared a quarterly dividend of $0.50 per share, resulting in an annualized yield of 4.5% for shareholders.

Nuveen LLC purchased a new stake in shares of U.S. Bancorp (NYSE:USB - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 3,272,926 shares of the financial services provider's stock, valued at approximately $138,183,000. Nuveen LLC owned about 0.21% of U.S. Bancorp as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Westend Capital Management LLC bought a new position in shares of U.S. Bancorp in the first quarter valued at about $27,000. REAP Financial Group LLC lifted its stake in U.S. Bancorp by 86.1% in the 4th quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 297 shares in the last quarter. YANKCOM Partnership grew its holdings in U.S. Bancorp by 59.4% in the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock valued at $29,000 after buying an additional 260 shares in the last quarter. Alpine Bank Wealth Management acquired a new stake in shares of U.S. Bancorp during the 1st quarter worth $30,000. Finally, Rakuten Securities Inc. grew its holdings in shares of U.S. Bancorp by 1,212.1% during the 1st quarter. Rakuten Securities Inc. now owns 761 shares of the financial services provider's stock worth $32,000 after purchasing an additional 703 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on USB shares. Evercore ISI raised their price objective on U.S. Bancorp from $44.00 to $49.00 and gave the stock an "in-line" rating in a research report on Wednesday, June 4th. Wall Street Zen upgraded U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. TD Cowen began coverage on U.S. Bancorp in a report on Thursday, May 15th. They set a "buy" rating and a $60.00 price objective on the stock. DA Davidson increased their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Finally, Citigroup increased their target price on U.S. Bancorp from $55.00 to $59.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, U.S. Bancorp presently has a consensus rating of "Moderate Buy" and an average price target of $52.55.

Insider Buying and Selling at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of the business's stock in a transaction that occurred on 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 approximately $3,259,833.64. The trade was a 25.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Trading Down 1.9%

NYSE:USB traded down $0.87 on Friday, reaching $45.96. 8,995,415 shares of the stock traded hands, compared to its average volume of 8,897,143. The firm has a market capitalization of $71.52 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 1.47 and a beta of 1.01. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.16. The company's 50 day moving average is $45.46 and its 200-day moving average is $43.86.

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

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, June 30th. U.S. Bancorp's payout ratio is presently 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.