National Bank of Canada FI Purchases 1,001,097 Shares of U.S. Bancorp (NYSE:USB)

Key Points

• National Bank of Canada FI significantly increased its stake in U.S. Bancorp by 124.8% during the first quarter, owning approximately 1.8 million shares valued at $76.1 million.
• U.S. Bancorp recently reported $1.11 EPS for the last quarter, exceeding analysts' estimates of $1.07, with a revenue of $7.06 billion.
• The company announced a quarterly dividend of $0.50 per share, translating to an annualized dividend yield of 4.5%.

National Bank of Canada FI grew its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 124.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,802,961 shares of the financial services provider's stock after buying an additional 1,001,097 shares during the quarter. National Bank of Canada FI owned about 0.12% of U.S. Bancorp worth $76,121,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Marshall Wace LLP grew its position in shares of U.S. Bancorp by 414.1% in the fourth quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider's stock valued at $276,915,000 after purchasing an additional 4,663,518 shares during the period. Vanguard Group Inc. grew its position in shares of U.S. Bancorp by 1.7% during the first quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider's stock worth $5,962,742,000 after buying an additional 2,393,383 shares in the last quarter. Northern Trust Corp grew its position in shares of U.S. Bancorp by 10.9% during the fourth quarter. Northern Trust Corp now owns 17,050,568 shares of the financial services provider's stock worth $815,529,000 after buying an additional 1,670,305 shares in the last quarter. GAMMA Investing LLC increased its holdings in U.S. Bancorp by 4,160.7% in the first quarter. GAMMA Investing LLC now owns 1,547,616 shares of the financial services provider's stock valued at $65,340,000 after buying an additional 1,511,293 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in U.S. Bancorp in the fourth quarter valued at about $64,257,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

USB has been the subject of several research analyst reports. DA Davidson boosted their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the company a "buy" rating in a report on Monday, July 21st. TD Cowen began coverage on U.S. Bancorp in a report on Thursday, May 15th. They set a "buy" rating and a $60.00 target price for the company. Truist Financial boosted their price objective 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. Keefe, Bruyette & Woods reduced their price objective on U.S. Bancorp from $54.00 to $49.00 and set a "market perform" rating for the company in a research report on Thursday, April 17th. Finally, Oppenheimer upped their target price on U.S. Bancorp from $66.00 to $67.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, U.S. Bancorp presently has an average rating of "Moderate Buy" and a consensus target price of $52.55.

U.S. Bancorp Price Performance

U.S. Bancorp stock traded down $0.30 during mid-day trading on Monday, hitting $44.56. 7,201,231 shares of the company traded hands, compared to its average volume of 11,048,690. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The stock has a market cap of $69.34 billion, a price-to-earnings ratio of 10.66, a price-to-earnings-growth ratio of 1.41 and a beta of 1.01. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a fifty day moving average price of $45.27 and a 200-day moving average price of $43.90.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.04. The business had revenue of $7.06 billion during the quarter, compared to analyst estimates of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. U.S. Bancorp'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 posted $0.98 earnings per share. On average, equities analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Monday, June 30th. U.S. Bancorp's payout ratio is presently 47.85%.

Insider Buying and Selling at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the business's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $46.34, for a total value of $1,099,509.18. Following the completion of the sale, the executive vice president directly owned 70,346 shares in the company, valued at approximately $3,259,833.64. The trade was a 25.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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.