U.S. Bancorp (NYSE:USB) Shares Acquired by Alecta Tjanstepension Omsesidigt

Alecta Tjanstepension Omsesidigt raised its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 32.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,080,000 shares of the financial services provider's stock after purchasing an additional 755,000 shares during the quarter. Alecta Tjanstepension Omsesidigt owned 0.20% of U.S. Bancorp worth $130,007,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in USB. Brighton Jones LLC boosted its holdings in U.S. Bancorp by 323.0% in the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider's stock valued at $2,309,000 after purchasing an additional 36,863 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in U.S. Bancorp in the 4th quarter valued at approximately $31,000. Virtu Financial LLC purchased a new stake in U.S. Bancorp in the 4th quarter valued at approximately $288,000. Blueprint Investment Partners LLC purchased a new stake in U.S. Bancorp in the 4th quarter valued at approximately $329,000. Finally, LPL Financial LLC boosted its holdings in U.S. Bancorp by 11.6% in the 4th quarter. LPL Financial LLC now owns 2,431,993 shares of the financial services provider's stock valued at $116,322,000 after purchasing an additional 252,268 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

Analyst Ratings Changes

USB has been the topic of several research analyst reports. Royal Bank Of Canada decreased their price target on U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Barclays decreased their price target on U.S. Bancorp from $61.00 to $56.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. The Goldman Sachs Group boosted their price target on U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. Wall Street Zen raised U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Piper Sandler decreased their price target on U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, U.S. Bancorp has a consensus rating of "Moderate Buy" and an average price target of $52.50.

U.S. Bancorp Trading Up 0.3%

USB traded up $0.12 during trading on Wednesday, hitting $46.28. The company's stock had a trading volume of 10,145,018 shares, compared to its average volume of 9,488,782. The firm's 50 day moving average price is $44.82 and its 200-day moving average price is $44.25. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market cap of $72.10 billion, a PE ratio of 11.07, a PEG ratio of 1.44 and a beta of 0.99. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.04. The company had revenue of $7.06 billion during the quarter, compared to the consensus estimate of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%. U.S. Bancorp's revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 EPS. On average, analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders 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 yield of 4.32%. U.S. Bancorp's dividend payout ratio (DPR) is presently 47.85%.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the business's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $46.34, for a total value of $1,099,509.18. Following the completion of the transaction, 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 is accessible through this link. Company 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.