Nykredit A S Invests $23.66 Million in U.S. Bancorp $USB

Nykredit A S purchased a new position in U.S. Bancorp (NYSE:USB - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 391,643 shares of the financial services provider's stock, valued at approximately $23,655,000.

Other hedge funds have also added to or reduced their stakes in the company. Financial Life Planners bought a new stake in shares of U.S. Bancorp during the 1st quarter valued at about $27,000. Main Street Group LTD bought a new stake in U.S. Bancorp during the 1st quarter valued at approximately $28,000. JPL Wealth Management LLC purchased a new position in shares of U.S. Bancorp during the 3rd quarter worth approximately $28,000. Archer Investment Corp bought a new position in shares of U.S. Bancorp in the 2nd quarter worth approximately $29,000. Finally, Parvin Asset Management LLC purchased a new position in shares of U.S. Bancorp in the 2nd quarter valued at approximately $30,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. BTIG Research set a $67.50 price objective on U.S. Bancorp in a report on Monday, July 20th. DA Davidson boosted their price objective on shares of U.S. Bancorp from $72.00 to $74.00 and gave the stock a "buy" rating in a report on Friday, July 17th. Robert W. Baird raised their target price on shares of U.S. Bancorp from $64.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, July 17th. Truist Financial increased their price target on shares of U.S. Bancorp from $66.00 to $69.00 and gave the stock a "buy" rating in a research report on Friday, July 17th. Finally, JPMorgan Chase & Co. raised their price objective on shares of U.S. Bancorp from $67.50 to $69.00 and gave the company a "neutral" rating in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, U.S. Bancorp has a consensus rating of "Moderate Buy" and an average price target of $67.06.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Stephen L. Philipson sold 36,906 shares of the company's stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $63.08, for a total value of $2,328,030.48. Following the transaction, the insider directly owned 74,969 shares in the company, valued at $4,729,044.52. This represents a 32.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gunjan Kedia sold 27,267 shares of the firm's stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the transaction, the chief executive officer directly owned 426,262 shares in the company, valued at approximately $26,585,960.94. This trade represents a 6.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company's stock.

U.S. Bancorp Stock Performance

Shares of NYSE:USB opened at $63.55 on Friday. U.S. Bancorp has a 12 month low of $45.02 and a 12 month high of $66.07. The firm's 50-day moving average is $63.02 and its 200 day moving average is $57.83. The company has a market capitalization of $99.01 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 1.11 and a beta of 0.95. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.07. The firm had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.58 billion. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.During the same period in the prior year, the business posted $1.11 earnings per share. Research analysts predict that U.S. Bancorp will post 5.22 EPS for the current year.

U.S. Bancorp Dividend Announcement

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

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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