U.S. Bancorp $USB Stock Holdings Increased by Geode Capital Management LLC

Key Points

• Geode Capital Management increased its U.S. Bancorp stake by 1.2% in the fourth quarter, adding 443,646 shares to bring its total holdings to 37.68 million shares, worth about $2.0 billion.
• Several analysts remain constructive on USB, with an average rating of “Moderate Buy” and a consensus price target of $61.20. Recent updates included RBC raising its target to $61 and JPMorgan trimming its target to $57.50.
• U.S. Bancorp reported better-than-expected earnings for the quarter, posting $1.18 EPS on $7.32 billion in revenue, and it also paid a quarterly dividend of $0.52 per share for an annualized yield of 3.8%.

Geode Capital Management LLC boosted its position in U.S. Bancorp (NYSE:USB - Free Report) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,679,617 shares of the financial services provider's stock after buying an additional 443,646 shares during the quarter. Geode Capital Management LLC owned approximately 2.42% of U.S. Bancorp worth $2,002,518,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of USB. Guerra Advisors Inc bought a new stake in U.S. Bancorp in the third quarter valued at about $25,000. Financial Life Planners bought a new stake in U.S. Bancorp in the third quarter valued at about $25,000. Clayton Financial Group LLC bought a new stake in U.S. Bancorp in the fourth quarter valued at about $25,000. JPL Wealth Management LLC bought a new stake in U.S. Bancorp in the third quarter valued at about $28,000. Finally, Binnacle Investments Inc increased its holdings in U.S. Bancorp by 77.8% in the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider's stock valued at $30,000 after buying an additional 273 shares during the last quarter. 77.60% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the transaction, the insider directly owned 207,251 shares of the company's stock, valued at $11,813,307. This represents a 16.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 51,292 shares of the company's stock, 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. Corporate insiders own 0.21% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on USB shares. Royal Bank Of Canada boosted their price objective on U.S. Bancorp from $59.00 to $61.00 and gave the company an "outperform" rating in a report on Friday, April 17th. UBS Group reaffirmed a "neutral" rating and set a $60.00 target price on shares of U.S. Bancorp in a report on Wednesday, February 4th. Piper Sandler reaffirmed a "buy" rating on shares of U.S. Bancorp in a report on Thursday, February 26th. JPMorgan Chase & Co. lowered their target price on U.S. Bancorp from $58.00 to $57.50 and set an "underweight" rating for the company in a report on Thursday, April 30th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and set a $60.00 target price on shares of U.S. Bancorp in a report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from 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 Down 0.4%

NYSE:USB opened at $54.45 on Friday. The firm has a market capitalization of $84.53 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 0.99 and a beta of 1.00. The stock has a 50 day moving average of $54.35 and a 200-day moving average of $53.91. U.S. Bancorp has a 52 week low of $42.55 and a 52 week high of $61.19. 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 posted its earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, beating the consensus estimate of $1.14 by $0.04. The company had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The business's revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.03 earnings per share. Analysts predict that U.S. Bancorp will post 5.09 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, March 31st. U.S. Bancorp's dividend payout ratio 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.