Commerzbank Aktiengesellschaft FI Increases Position in U.S. Bancorp (NYSE:USB)

Commerzbank Aktiengesellschaft FI grew its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 49.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 172,332 shares of the financial services provider's stock after buying an additional 57,284 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in U.S. Bancorp were worth $7,276,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of U.S. Bancorp during the 4th quarter valued at $777,524,000. Invesco Ltd. raised its holdings in shares of U.S. Bancorp by 48.1% in the 4th quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider's stock valued at $802,947,000 after acquiring an additional 5,449,949 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of U.S. Bancorp by 414.1% in the 4th quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider's stock valued at $276,915,000 after acquiring an additional 4,663,518 shares in the last quarter. FMR LLC raised its holdings in shares of U.S. Bancorp by 5.0% in the 4th quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock valued at $3,210,624,000 after acquiring an additional 3,211,815 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of U.S. Bancorp by 10.9% in the 4th quarter. Northern Trust Corp now owns 17,050,568 shares of the financial services provider's stock valued at $815,529,000 after acquiring an additional 1,670,305 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

Insider Transactions at U.S. Bancorp

In related news, Director Aleem Gillani acquired 5,000 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The stock was purchased at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the purchase, the director directly owned 15,000 shares of the company's stock, valued at $559,800. This trade represents a 50.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Price Performance

Shares of NYSE:USB traded down $0.44 during mid-day trading on Thursday, reaching $45.24. The stock had a trading volume of 25,241,470 shares, compared to its average volume of 9,499,939. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The company has a market cap of $70.48 billion, a P/E ratio of 11.20, a price-to-earnings-growth ratio of 1.76 and a beta of 0.99. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The business's 50 day moving average price is $44.68 and its 200 day moving average price is $44.33.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its earnings results on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.04. The company had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. U.S. Bancorp had a return on equity of 13.02% and a net margin of 15.70%. The firm's revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.98 earnings per share. Research analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a $0.50 dividend. The ex-dividend date was Monday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.42%. U.S. Bancorp's payout ratio is 49.50%.

Analyst Ratings Changes

Several equities analysts recently issued reports on USB shares. Truist Financial raised their price target on U.S. Bancorp from $48.00 to $50.00 and gave the stock a "hold" rating in a research report on Wednesday, July 9th. Oppenheimer raised their target price on U.S. Bancorp from $57.00 to $59.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Wolfe Research upgraded U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 target price for the company in a research note on Thursday, April 3rd. Raymond James Financial upgraded U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and raised their target price for the company from $51.00 to $57.00 in a research note on Monday, July 7th. Finally, Wall Street Zen cut U.S. Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, June 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $51.70.

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.