Oppenheimer & Co. Inc. Raises Stock Position in U.S. Bancorp (NYSE:USB)

Oppenheimer & Co. Inc. grew its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 75.4% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 227,832 shares of the financial services provider's stock after buying an additional 97,957 shares during the period. Oppenheimer & Co. Inc.'s holdings in U.S. Bancorp were worth $9,619,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of U.S. Bancorp by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider's stock worth $6,640,569,000 after acquiring an additional 1,079,056 shares during the period. FMR LLC increased its stake in shares of U.S. Bancorp by 5.0% during the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock worth $3,210,624,000 after acquiring an additional 3,211,815 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of U.S. Bancorp by 5.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider's stock worth $2,381,443,000 after acquiring an additional 2,460,845 shares during the period. Geode Capital Management LLC increased its stake in shares of U.S. Bancorp by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 33,937,360 shares of the financial services provider's stock worth $1,618,948,000 after acquiring an additional 850,763 shares during the period. Finally, Amundi increased its stake in shares of U.S. Bancorp by 7.4% during the fourth quarter. Amundi now owns 19,485,615 shares of the financial services provider's stock worth $945,268,000 after acquiring an additional 1,341,407 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Trading Up 1.0%

Shares of USB traded up $0.45 on Tuesday, hitting $44.54. 10,996,918 shares of the stock traded hands, compared to its average volume of 9,190,195. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $69.39 billion, a P/E ratio of 11.02, a P/E/G ratio of 1.66 and a beta of 0.99. The stock's 50 day moving average is $42.49 and its two-hundred day moving average is $44.62. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.06. The business had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.92 billion. U.S. Bancorp had a net margin of 15.70% and a return on equity of 13.02%. During the same quarter in the prior year, the firm posted $0.78 earnings per share. As a group, sell-side analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.49%. The ex-dividend date is Monday, June 30th. U.S. Bancorp's payout ratio is 49.50%.

Analyst Ratings Changes

USB has been the topic of a number of recent analyst reports. Wolfe Research upgraded shares of U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 price target on the stock in a research note on Thursday, April 3rd. Keefe, Bruyette & Woods dropped their price target on shares of U.S. Bancorp from $54.00 to $49.00 and set a "market perform" rating on the stock in a research note on Thursday, April 17th. Piper Sandler lowered their target price on shares of 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. Citigroup lowered their target price on shares of U.S. Bancorp from $65.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Finally, Morgan Stanley lowered their target price on shares of U.S. Bancorp from $51.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, U.S. Bancorp has a consensus rating of "Moderate Buy" and a consensus price target of $50.72.

Insider Activity at U.S. Bancorp

In related news, Director Aleem Gillani purchased 5,000 shares of the business's stock in a transaction on Monday, April 21st. The shares were bought at an average price of $37.32 per share, with a total value of $186,600.00. Following the completion of the purchase, the director now directly owns 15,000 shares in the company, valued at approximately $559,800. This trade represents a 50.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.23% of the company's stock.

U.S. Bancorp Company 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.