U.S. Bancorp $USB Shares Purchased by ABN Amro Investment Solutions

Key Points

• ABN Amro Investment Solutions boosted its U.S. Bancorp stake by 7.9% in the fourth quarter, bringing its holdings to 252,961 shares valued at about $13.5 million.
• Insiders sold shares recently, including Jodi L. Richard and EVP Venkatachari Dilip, with both transactions reducing their ownership significantly.
• U.S. Bancorp’s earnings beat expectations last quarter, and analysts remain mostly positive with a consensus rating of “Moderate Buy” and an average price target of $61.20.

ABN Amro Investment Solutions increased its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 7.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 252,961 shares of the financial services provider's stock after purchasing an additional 18,468 shares during the quarter. ABN Amro Investment Solutions' holdings in U.S. Bancorp were worth $13,498,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Paulson Wealth Management Inc. grew its position in U.S. Bancorp by 2.0% in the fourth quarter. Paulson Wealth Management Inc. now owns 8,780 shares of the financial services provider's stock valued at $469,000 after acquiring an additional 173 shares in the last quarter. Gilbert & Cook Inc. grew its position in U.S. Bancorp by 1.2% in the fourth quarter. Gilbert & Cook Inc. now owns 15,590 shares of the financial services provider's stock valued at $832,000 after acquiring an additional 184 shares in the last quarter. Genesis Private Wealth LLC grew its position in U.S. Bancorp by 2.3% in the fourth quarter. Genesis Private Wealth LLC now owns 8,348 shares of the financial services provider's stock valued at $445,000 after acquiring an additional 187 shares in the last quarter. RiverFront Investment Group LLC grew its position in U.S. Bancorp by 3.0% in the fourth quarter. RiverFront Investment Group LLC now owns 6,623 shares of the financial services provider's stock valued at $353,000 after acquiring an additional 196 shares in the last quarter. Finally, Lantz Financial LLC grew its position in U.S. Bancorp by 0.4% in the fourth quarter. Lantz Financial LLC now owns 49,360 shares of the financial services provider's stock valued at $2,634,000 after acquiring an additional 199 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

Insider Buying and Selling at U.S. Bancorp

In related news, insider Jodi L. Richard sold 40,000 shares of the firm'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 directly owned 207,251 shares in the company, valued at $11,813,307. This trade represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Venkatachari Dilip sold 34,522 shares of the firm's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the transaction, the executive vice president owned 51,292 shares in the company, valued at $2,847,731.84. This trade represents a 40.23% 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.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on USB shares. Argus increased their price objective on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company a "buy" rating in a research report on Thursday, January 22nd. Morgan Stanley set a $64.00 price objective on shares of U.S. Bancorp in a research report on Friday, April 17th. Barclays increased their target price on U.S. Bancorp from $65.00 to $67.00 and gave the company an "overweight" rating in a research note on Friday, April 17th. Piper Sandler reiterated a "buy" rating on shares of U.S. Bancorp in a research note on Thursday, February 26th. Finally, Royal Bank Of Canada increased their target price on 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 research 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.com, U.S. Bancorp currently has an average rating of "Moderate Buy" and a consensus price target of $61.20.

U.S. Bancorp Stock Performance

U.S. Bancorp stock opened at $54.49 on Thursday. The stock has a 50 day moving average of $53.97 and a 200-day moving average of $53.58. U.S. Bancorp has a 52 week low of $42.21 and a 52 week high of $61.19. The stock has a market cap of $84.58 billion, a P/E ratio of 11.42, a price-to-earnings-growth ratio of 0.96 and a beta of 1.00. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03.

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, topping the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The firm had revenue of $7.32 billion for the quarter, compared to analysts' expectations of $7.27 billion. During the same period last year, the business posted $1.03 earnings per share. The firm's revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts expect that U.S. Bancorp will post 5.09 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a dividend of $0.52 per share. The ex-dividend date was Tuesday, March 31st. This represents a $2.08 annualized dividend and a yield of 3.8%. U.S. Bancorp's dividend payout ratio (DPR) is 43.61%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.