U.S. Bancorp $USB Shares Acquired by Vest Financial LLC

Key Points

• Vest Financial LLC boosted its stake in U.S. Bancorp by 1,220% in Q4, acquiring an additional 268,637 shares to own 290,656 shares worth about $15.51 million.
• U.S. Bancorp beat quarterly estimates with $1.18 EPS vs. $1.14 expected and revenue of $7.32B (up 4.7% YoY), and it declared a quarterly dividend of $0.52 (annualized yield ~3.7%).
• Analysts remain generally positive—MarketBeat shows an average rating of "Moderate Buy" with an average target of $61.18, while recent price targets range roughly from $58 to $73.

Vest Financial LLC lifted its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 1,220.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 290,656 shares of the financial services provider's stock after acquiring an additional 268,637 shares during the quarter. Vest Financial LLC's holdings in U.S. Bancorp were worth $15,509,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of USB. Vanguard Group Inc. grew its holdings in U.S. Bancorp by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider's stock valued at $7,810,665,000 after purchasing an additional 1,828,404 shares during the period. State Street Corp lifted its position in shares of U.S. Bancorp by 0.9% during the 3rd quarter. State Street Corp now owns 69,179,530 shares of the financial services provider's stock valued at $3,378,808,000 after buying an additional 648,943 shares in the last quarter. Davis Selected Advisers grew its stake in U.S. Bancorp by 0.5% in 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 acquiring an additional 99,925 shares during the period. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in U.S. Bancorp by 7.2% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 17,758,947 shares of the financial services provider's stock worth $858,290,000 after acquiring an additional 1,189,525 shares in the last quarter. Finally, Northern Trust Corp raised its position in U.S. Bancorp by 1.1% during the third quarter. Northern Trust Corp now owns 16,438,774 shares of the financial services provider's stock worth $794,486,000 after acquiring an additional 172,645 shares during the period. Hedge funds and other institutional investors own 77.60% of the company's stock.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $56.21 on Wednesday. The firm has a 50-day simple moving average of $54.17 and a 200-day simple moving average of $52.82. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $87.25 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 1.01 and a beta of 1.01. U.S. Bancorp has a 52 week low of $39.28 and a 52 week high of $61.19.

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

U.S. Bancorp Announces Dividend

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

Analysts Set New Price Targets

USB has been the topic of several recent analyst reports. Oppenheimer increased their price objective on shares of U.S. Bancorp from $71.00 to $73.00 and gave the company an "outperform" rating in a report on Friday, April 17th. Barclays upped their price target on shares of U.S. Bancorp from $65.00 to $67.00 and gave the stock an "overweight" rating in a research report on Friday, April 17th. Truist Financial lowered their price objective on U.S. Bancorp from $63.00 to $62.00 and set a "buy" rating on the stock in a report on Friday, April 17th. JPMorgan Chase & Co. cut their price objective on U.S. Bancorp from $62.00 to $58.00 and set an "underweight" rating for the company in a research note on Tuesday, April 7th. Finally, Morgan Stanley set a $64.00 target price on U.S. Bancorp in a research report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $61.18.

Insider Buying and Selling

In other U.S. Bancorp news, insider Jodi L. Richard sold 40,000 shares of the business's stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the transaction, the insider owned 207,251 shares of the company's stock, valued at approximately $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark G. Runkel sold 32,195 shares of the company's stock in a transaction on Friday, February 6th. The shares were 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 owned 97,728 shares of the company's stock, valued at approximately $5,927,203.20. The trade was a 24.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company's stock.

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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