OLD National Bancorp IN Grows Stake in U.S. Bancorp $USB

Key Points

• OLD National Bancorp IN boosted its holding in U.S. Bancorp by 237.4%, adding 253,725 shares for a total of 360,587 shares valued at $19,241,000.
• U.S. Bancorp beat recent quarter estimates with EPS $1.18 vs. $1.14 expected and revenue of $7.29 billion, with ROE of 18.26% and revenue up 4.7% year‑over‑year.
• The bank pays a quarterly dividend of $0.52 (annualized yield ~3.7%, payout ratio 43.6%) and holds a consensus analyst rating of "Moderate Buy" with a $61.18 target price.

OLD National Bancorp IN lifted its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 237.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 360,587 shares of the financial services provider's stock after acquiring an additional 253,725 shares during the period. OLD National Bancorp IN's holdings in U.S. Bancorp were worth $19,241,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in USB. Gilbert & Cook Inc. raised its holdings in U.S. Bancorp by 1.2% during the fourth quarter. Gilbert & Cook Inc. now owns 15,590 shares of the financial services provider's stock worth $832,000 after purchasing an additional 184 shares in the last quarter. Genesis Private Wealth LLC grew its position in shares of U.S. Bancorp by 2.3% in the 4th quarter. Genesis Private Wealth LLC now owns 8,348 shares of the financial services provider's stock valued at $445,000 after buying an additional 187 shares during the last quarter. Lantz Financial LLC raised its stake in U.S. Bancorp by 0.4% during the 4th quarter. Lantz Financial LLC now owns 49,360 shares of the financial services provider's stock worth $2,634,000 after acquiring an additional 199 shares in the last quarter. Park National Corp OH lifted its position in U.S. Bancorp by 0.7% in the fourth quarter. Park National Corp OH now owns 27,364 shares of the financial services provider's stock valued at $1,460,000 after acquiring an additional 200 shares during the last quarter. Finally, Romano Brothers AND Company grew its holdings in shares of U.S. Bancorp by 2.4% during the fourth quarter. Romano Brothers AND Company now owns 9,156 shares of the financial services provider's stock worth $489,000 after purchasing an additional 211 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

U.S. Bancorp Stock Up 0.3%

USB opened at $56.78 on Thursday. U.S. Bancorp has a 52 week low of $39.26 and a 52 week high of $61.19. The business has a 50 day moving average price of $54.31 and a two-hundred day moving average price of $52.52. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. The company has a market cap of $88.14 billion, a PE ratio of 11.87, a P/E/G ratio of 1.03 and a beta of 1.01.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a return on equity of 18.26% and a net margin of 18.01%.The company had revenue of $7.29 billion for the quarter, compared to the consensus estimate of $7.27 billion. During the same period last year, the business posted $1.03 EPS. The company's revenue was up 4.7% on a year-over-year basis. As a group, research analysts anticipate that U.S. Bancorp will post 5.08 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, March 31st. U.S. Bancorp's payout ratio is currently 43.61%.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Jodi L. Richard sold 40,000 shares of the business's stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the transaction, the insider directly owned 207,251 shares in the company, valued at $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark G. Runkel sold 32,195 shares of the stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the transaction, the insider directly owned 97,728 shares of the company's stock, valued at $5,927,203.20. This represents a 24.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on USB. Weiss Ratings reissued a "buy (b-)" rating on shares of U.S. Bancorp in a report on Monday. Keefe, Bruyette & Woods boosted their price objective on U.S. Bancorp from $58.00 to $59.00 and gave the company a "market perform" rating in a research note on Wednesday, January 21st. DA Davidson reissued a "buy" rating and issued a $65.00 price objective on shares of U.S. Bancorp in a report on Friday, April 17th. JPMorgan Chase & Co. lowered their target price on shares of U.S. Bancorp from $62.00 to $58.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 7th. Finally, Morgan Stanley set a $64.00 price target on shares of U.S. Bancorp in a research report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, U.S. Bancorp presently has a consensus rating of "Moderate Buy" and a consensus target price of $61.18.

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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