U.S. Bancorp $USB Shares Purchased by SageView Advisory Group LLC

Key Points

• SageView Advisory Group boosted its stake in U.S. Bancorp by 89.2% in Q3 to 63,208 shares, worth about $3.06 million.
• Other large institutions piled in too—Norges Bank initiated a roughly $971 million position and Vanguard holds 143.27 million shares (~$6.48 billion), leaving institutional ownership at 77.6%.
• Wall Street consensus is a "Moderate Buy" with a $60.02 price target; U.S. Bancorp beat Q results (EPS $1.26 vs. $1.19) and declared a $0.52 quarterly dividend (4.0% yield).

SageView Advisory Group LLC boosted its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 89.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,208 shares of the financial services provider's stock after acquiring an additional 29,801 shares during the period. SageView Advisory Group LLC's holdings in U.S. Bancorp were worth $3,055,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of U.S. Bancorp during the 2nd quarter worth approximately $971,285,000. Davis Selected Advisers increased its holdings in shares of U.S. Bancorp by 29.8% in the second quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider's stock valued at $874,757,000 after purchasing an additional 4,442,623 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in U.S. Bancorp by 1,589.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,472,252 shares of the financial services provider's stock worth $157,119,000 after buying an additional 3,266,724 shares in the last quarter. AQR Capital Management LLC boosted its stake in U.S. Bancorp by 354.5% during the second quarter. AQR Capital Management LLC now owns 2,855,350 shares of the financial services provider's stock worth $129,205,000 after buying an additional 2,227,103 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in U.S. Bancorp by 1.4% during the second quarter. Vanguard Group Inc. now owns 143,269,275 shares of the financial services provider's stock worth $6,482,935,000 after buying an additional 2,038,996 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on USB. Evercore raised their target price on U.S. Bancorp from $60.00 to $65.00 and gave the stock an "in-line" rating in a research note on Thursday, February 5th. Piper Sandler reissued a "buy" rating on shares of U.S. Bancorp in a report on Thursday, February 26th. Keefe, Bruyette & Woods raised their price objective on shares of U.S. Bancorp from $58.00 to $59.00 and gave the stock a "market perform" rating in a research report on Wednesday, January 21st. Argus lifted their target price 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. Finally, Royal Bank Of Canada boosted their target price on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company an "outperform" rating in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, U.S. Bancorp has a consensus rating of "Moderate Buy" and a consensus price target of $60.02.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $51.97 on Wednesday. The firm has a market cap of $80.74 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 0.93 and a beta of 1.04. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $61.19. The business's fifty day simple moving average is $55.98 and its 200-day simple moving average is $51.56.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.19 by $0.07. The firm had revenue of $7.92 billion during the quarter, compared to the consensus estimate of $7.31 billion. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The company's quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the company earned $1.07 EPS. Equities analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.52 per share. The ex-dividend date is Tuesday, March 31st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.0%. U.S. Bancorp's dividend payout ratio (DPR) is currently 45.02%.

Insider Activity

In other news, insider Mark G. Runkel sold 32,195 shares of the business's stock in a transaction that occurred 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 sale, the insider directly 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.23% of the company's stock.

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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