U.S. Bancorp $USB Shares Bought by First Eagle Investment Management LLC

Key Points

• First Eagle Investment Management increased its U.S. Bancorp stake by 0.5% in the fourth quarter, bringing its holdings to 8.82 million shares valued at about $470.5 million.
• U.S. Bancorp reported better-than-expected quarterly results, with EPS of $1.18 versus $1.14 expected and revenue of $7.32 billion, up 4.7% year over year.
• The bank continues to return cash to shareholders, recently paying a quarterly dividend of $0.52 per share, which annualizes to a 3.8% yield.

First Eagle Investment Management LLC lifted its stake in U.S. Bancorp (NYSE:USB - Free Report) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,818,344 shares of the financial services provider's stock after acquiring an additional 45,066 shares during the period. First Eagle Investment Management LLC owned 0.57% of U.S. Bancorp worth $470,547,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of U.S. Bancorp by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider's stock worth $7,810,665,000 after acquiring an additional 1,828,404 shares during the period. State Street Corp lifted its stake in shares of U.S. Bancorp by 0.9% in the 3rd quarter. State Street Corp now owns 69,179,530 shares of the financial services provider's stock worth $3,378,808,000 after acquiring an additional 648,943 shares during the period. Davis Selected Advisers lifted its stake in shares of U.S. Bancorp by 13.4% in the 4th quarter. Davis Selected Advisers now owns 22,041,759 shares of the financial services provider's stock worth $1,176,148,000 after acquiring an additional 2,610,197 shares during the period. Grantham Mayo Van Otterloo & Co. LLC lifted its stake in shares of 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 during the period. Finally, Northern Trust Corp lifted 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 acquiring an additional 172,645 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Down 1.9%

USB stock opened at $54.47 on Tuesday. U.S. Bancorp has a 52-week low of $42.21 and a 52-week high of $61.19. The company's 50 day simple moving average is $53.99 and its 200-day simple moving average is $53.27. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $84.55 billion, a P/E ratio of 11.42, a P/E/G ratio of 1.00 and a beta of 1.00.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.04. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The business had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.27 billion. During the same quarter in the previous year, the business earned $1.03 earnings per share. The firm's revenue was up 4.7% compared to the same quarter last year. As a group, equities research analysts anticipate that U.S. Bancorp will post 5.09 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently declared 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 was Tuesday, March 31st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.8%. U.S. Bancorp's payout ratio is currently 43.61%.

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 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 completion of the sale, the insider directly owned 207,251 shares of the company's stock, valued at $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Venkatachari Dilip sold 34,522 shares of the business's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the sale, the executive vice president directly owned 51,292 shares of the company's stock, valued at $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on USB. Argus upped their price target 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. TD Cowen increased their target price on shares of U.S. Bancorp from $65.00 to $66.00 and gave the company a "buy" rating in a research note on Wednesday, January 21st. Jefferies Financial Group reissued a "hold" rating and set a $60.00 target price on shares of U.S. Bancorp in a research note on Thursday, April 16th. DA Davidson reissued a "buy" rating and set a $65.00 target price on shares of U.S. Bancorp in a research note on Friday, April 17th. Finally, Royal Bank Of Canada increased their target price on shares of U.S. Bancorp from $59.00 to $61.00 and gave the company an "outperform" rating in a research note on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, U.S. Bancorp has an average rating of "Moderate Buy" and an average target price of $61.20.

U.S. Bancorp 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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