U.S. Bancorp $USB Position Boosted by Vanguard Group Inc.

Key Points

• Vanguard Group raised its holding in U.S. Bancorp by 1.3% in Q4, buying 1,828,404 shares to own 146,376,783 shares—about 9.42% of the company valued at $7.81 billion.
• U.S. Bancorp beat quarterly estimates with EPS of $1.18 versus $1.14 and revenue of $7.32 billion, reporting a net margin of 18.01% and ROE of 18.26%; analysts have a consensus rating of Moderate Buy and a $61.18 target.
• The stock has a market cap of $86.34 billion and a P/E of 11.66, pays a quarterly dividend of $0.52 (annualized yield ~3.7%, payout ratio 43.6%), while insiders recently trimmed positions and own just 0.21% versus 77.6% institutional ownership.

Vanguard Group Inc. increased its stake in U.S. Bancorp (NYSE:USB - Free Report) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 146,376,783 shares of the financial services provider's stock after purchasing an additional 1,828,404 shares during the quarter. Vanguard Group Inc. owned about 9.42% of U.S. Bancorp worth $7,810,665,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. State Street Corp raised its holdings in U.S. Bancorp by 0.9% during the third quarter. State Street Corp now owns 69,179,530 shares of the financial services provider's stock worth $3,378,808,000 after purchasing an additional 648,943 shares in the last quarter. Davis Selected Advisers boosted its stake in U.S. Bancorp by 0.5% during the 3rd quarter. Davis Selected Advisers now owns 19,431,562 shares of the financial services provider's stock valued at $939,127,000 after purchasing an additional 99,925 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its position in shares of U.S. Bancorp by 7.2% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 17,758,947 shares of the financial services provider's stock valued at $858,290,000 after purchasing an additional 1,189,525 shares during the period. Northern Trust Corp raised its stake in shares of U.S. Bancorp by 1.1% in the 3rd quarter. Northern Trust Corp now owns 16,438,774 shares of the financial services provider's stock worth $794,486,000 after buying an additional 172,645 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of U.S. Bancorp by 4.5% in the third quarter. Invesco Ltd. now owns 16,320,086 shares of the financial services provider's stock valued at $788,750,000 after buying an additional 706,729 shares during the period. Institutional investors own 77.60% of the company's stock.

U.S. Bancorp Stock Up 0.1%

Shares of U.S. Bancorp stock opened at $55.62 on Monday. The firm has a market cap of $86.34 billion, a price-to-earnings ratio of 11.66, a P/E/G ratio of 1.00 and a beta of 1.01. The stock has a 50-day simple moving average of $54.25 and a 200-day simple moving average of $52.68. U.S. Bancorp has a 52-week low of $39.28 and a 52-week high of $61.19. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.04. The firm had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 18.26%. The company's revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 earnings per share. On average, equities research analysts expect that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.7%. U.S. Bancorp's dividend payout ratio is currently 43.61%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. HSBC reaffirmed a "buy" rating and set a $62.00 target price on shares of U.S. Bancorp in a research note on Wednesday, January 7th. Piper Sandler restated a "buy" rating on shares of U.S. Bancorp in a research report on Thursday, February 26th. Argus lifted their price objective on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock a "buy" rating in a research note on Thursday, January 22nd. Truist Financial dropped their target price on shares of U.S. Bancorp from $63.00 to $62.00 and set a "buy" rating on the stock in a report on Friday, April 17th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of U.S. Bancorp in a research report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $61.18.

Insider Buying and Selling

In related news, insider Mark G. Runkel sold 32,195 shares of the business's stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $60.65, for a total value of $1,952,626.75. Following the completion of the sale, the insider directly owned 97,728 shares in the company, valued at approximately $5,927,203.20. The trade was a 24.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the transaction, the insider owned 207,251 shares in the company, valued at approximately $11,813,307. This trade represents a 16.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by company insiders.

U.S. Bancorp Company Profile

U.S. Bancorp NYSE: USB is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.

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