U.S. Bancorp $USB Shares Acquired by Hoese & Co LLP

Key Points

• Hoese & Co LLP significantly increased its stake in U.S. Bancorp, acquiring an additional 5,510 shares, raising its total ownership by 223.1% during the second quarter, now valued at $361,000.
• U.S. Bancorp recently reported an EPS of $1.22 for the quarter, exceeding analysts' estimates, with a year-over-year revenue increase of 6.8%.
• The company has raised its quarterly dividend from $0.50 to $0.52 per share, representing a 4.6% yield.

Hoese & Co LLP raised its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 223.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,980 shares of the financial services provider's stock after acquiring an additional 5,510 shares during the quarter. U.S. Bancorp makes up 0.3% of Hoese & Co LLP's portfolio, making the stock its 23rd biggest position. Hoese & Co LLP's holdings in U.S. Bancorp were worth $361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Curbstone Financial Management Corp boosted its holdings in U.S. Bancorp by 0.6% in the second quarter. Curbstone Financial Management Corp now owns 39,982 shares of the financial services provider's stock worth $1,809,000 after purchasing an additional 222 shares in the last quarter. Foster & Motley Inc. lifted its stake in shares of U.S. Bancorp by 122.6% during the second quarter. Foster & Motley Inc. now owns 37,868 shares of the financial services provider's stock valued at $1,714,000 after acquiring an additional 20,855 shares during the period. Ariston Services Group bought a new position in U.S. Bancorp during the 2nd quarter worth approximately $207,000. Kanawha Capital Management LLC increased its holdings in U.S. Bancorp by 1.0% during the 2nd quarter. Kanawha Capital Management LLC now owns 226,078 shares of the financial services provider's stock worth $10,230,000 after purchasing an additional 2,232 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC lifted its stake in shares of U.S. Bancorp by 0.6% during the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 837,007 shares of the financial services provider's stock worth $37,875,000 after buying an additional 4,792 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

Wall Street Analyst Weigh In

USB has been the subject of several recent research reports. DA Davidson boosted their price objective on U.S. Bancorp from $57.00 to $59.00 and gave the company a "buy" rating in a report on Friday. Wall Street Zen raised U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Weiss Ratings reissued a "buy (b-)" rating on shares of U.S. Bancorp in a research report on Wednesday, October 8th. The Goldman Sachs Group set a $52.00 target price on U.S. Bancorp and gave the company a "neutral" rating in a report on Friday. Finally, Truist Financial raised their price objective on U.S. Bancorp from $51.00 to $52.00 and gave the stock a "hold" rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of "Moderate Buy" and an average target price of $54.48.

U.S. Bancorp Trading Up 0.0%

Shares of NYSE USB opened at $45.66 on Friday. The company has a 50-day moving average of $47.93 and a two-hundred day moving average of $44.81. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. The company has a market cap of $71.06 billion, a PE ratio of 10.45, a P/E/G ratio of 1.33 and a beta of 1.06. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.10.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, topping analysts' consensus estimates of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The business had revenue of $7.34 billion during the quarter, compared to analysts' expectations of $7.17 billion. During the same quarter last year, the company posted $1.03 earnings per share. U.S. Bancorp's quarterly revenue was up 6.8% on a year-over-year basis. As a group, equities analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Tuesday, September 30th. This is a boost from U.S. Bancorp's previous quarterly dividend of $0.50. U.S. Bancorp's payout ratio is presently 47.60%.

Insider Activity

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the business's stock in a transaction dated 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 owned 70,346 shares in the company, valued at approximately $3,259,833.64. The trade was a 25.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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.

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