U.S. Bancorp (NYSE:USB) Shares Sold by AMF Tjanstepension AB

Key Points

• AMF Tjanstepension AB has reduced its holdings in U.S. Bancorp by 9.3%, selling 87,936 shares, and now owns approximately 0.06% of the company worth $36.35 million.
• Several institutional investors, including Vanguard Group and Goldman Sachs, increased their positions in U.S. Bancorp, with Vanguard purchasing an additional 2.39 million shares.
• U.S. Bancorp reported an earnings per share (EPS) of $1.11 for the last quarter, exceeding estimates and marking a 2.0% revenue increase year-over-year.

AMF Tjanstepension AB cut its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 9.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 859,446 shares of the financial services provider's stock after selling 87,936 shares during the period. AMF Tjanstepension AB owned approximately 0.06% of U.S. Bancorp worth $36,354,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted 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 during the period. Northern Trust Corp boosted 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of U.S. Bancorp by 11.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,574,919 shares of the financial services provider's stock worth $601,458,000 after buying an additional 1,339,493 shares during the period. Goldman Sachs Group Inc. raised its holdings in U.S. Bancorp by 10.5% during the first quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider's stock worth $464,953,000 after purchasing an additional 1,045,509 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in U.S. Bancorp by 0.3% in the first quarter. Federated Hermes Inc. now owns 9,485,614 shares of the financial services provider's stock worth $400,483,000 after purchasing an additional 27,566 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the company's stock in a transaction 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 transaction, the executive vice president directly owned 70,346 shares of the company's stock, valued at approximately $3,259,833.64. This represents a 25.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 opened at $44.11 on Friday. The company's fifty day moving average is $45.25 and its two-hundred day moving average is $43.99. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98. The company has a market cap of $68.72 billion, a P/E ratio of 10.55, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01.

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. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The company had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same period in the previous year, the business earned $0.98 EPS. The company's revenue was up 2.0% on a year-over-year basis. Equities analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Monday, June 30th. U.S. Bancorp's payout ratio is 47.85%.

Analyst Ratings Changes

USB has been the subject of a number of research analyst reports. TD Cowen initiated coverage on U.S. Bancorp in a research report on Thursday, May 15th. They issued a "buy" rating and a $60.00 target price for the company. 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. Wall Street Zen upgraded U.S. Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Piper Sandler cut their target price on U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Finally, Evercore ISI upped their target price on U.S. Bancorp from $44.00 to $49.00 and gave the stock an "in-line" rating in a research report on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $52.55.

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.

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