U.S. Bancorp $USB Shares Newly Bought by BG Investment Services LLC

Key Points

• BG Investment Services purchased 19,134 U.S. Bancorp shares worth approximately $1.1 million in the third quarter. Institutional investors collectively own 77.6% of the company.
• Analysts maintain a generally positive view, with U.S. Bancorp receiving a consensus rating of “Moderate Buy” and an average price target of $69.19, despite some recent target-price reductions.
• U.S. Bancorp exceeded quarterly earnings expectations, reporting $1.34 in EPS and $8.04 billion in revenue, while increasing its quarterly dividend to $0.54 per share, representing a 3.6% annualized yield.

BG Investment Services LLC purchased a new stake in shares of U.S. Bancorp (NYSE:USB - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 19,134 shares of the financial services provider's stock, valued at approximately $1,105,000.

A number of other institutional investors have also recently made changes to their positions in USB. Financial Life Planners purchased a new position in shares of U.S. Bancorp in the first quarter worth $27,000. Main Street Group LTD purchased a new stake in shares of U.S. Bancorp during the first quarter valued at $28,000. Archer Investment Corp purchased a new stake in shares of U.S. Bancorp during the second quarter valued at $29,000. Parvin Asset Management LLC purchased a new stake in shares of U.S. Bancorp during the second quarter valued at $30,000. Finally, NFSG Corp bought a new stake in U.S. Bancorp in the 1st quarter worth about $31,000. Hedge funds and other institutional investors own 77.60% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on USB. Truist Financial decreased their target price on U.S. Bancorp from $69.00 to $67.00 and set a "buy" rating for the company in a research report on Thursday, October 1st. UBS Group dropped their price target on shares of U.S. Bancorp from $66.00 to $64.00 and set a "neutral" rating on the stock in a report on Monday, October 5th. Evercore upgraded shares of U.S. Bancorp from an "in-line" rating to an "outperform" rating and set a $72.00 price target for the company in a research note on Monday, July 20th. CLSA set a $67.50 price objective on shares of U.S. Bancorp in a report on Monday, July 20th. Finally, Wall Street Zen upgraded shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of "Moderate Buy" and a consensus target price of $69.19.

U.S. Bancorp Stock Performance

Shares of USB opened at $59.59 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.83 and a quick ratio of 0.83. U.S. Bancorp has a one year low of $45.02 and a one year high of $66.07. The firm has a market capitalization of $92.84 billion, a P/E ratio of 11.62, a PEG ratio of 1.14 and a beta of 1.00. The business has a fifty day moving average of $60.25 and a 200 day moving average of $59.25.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its earnings results on Thursday, October 15th. The financial services provider reported $1.34 earnings per share for the quarter, beating analysts' consensus estimates of $1.32 by $0.02. The company had revenue of $8.04 billion for the quarter, compared to the consensus estimate of $8 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. U.S. Bancorp's revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.22 earnings per share. As a group, sell-side analysts anticipate that U.S. Bancorp will post 5.29 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a dividend of $0.54 per share. This is an increase from U.S. Bancorp's previous quarterly dividend of $0.52. This represents a $2.16 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Wednesday, September 30th. U.S. Bancorp's dividend payout ratio is currently 42.11%.

Insider Buying and Selling

In other news, CEO Gunjan Kedia sold 27,267 shares of U.S. Bancorp stock in a transaction on Friday, August 28th. The shares were sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the transaction, the chief executive officer owned 426,262 shares in the company, valued at $26,585,960.94. This trade represents a 6.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.21% of the company's stock.

About U.S. Bancorp

U.S. Bancorp NYSE: USB is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. U.S. Bank provides banking, lending, payment, investment and wealth-management services to individuals, businesses, institutions and government entities.

The company's consumer and business banking operations offer deposit accounts, mortgages, home-equity and consumer loans, credit cards, small-business banking and commercial lending.

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