Vanguard Group Inc. Grows Position in U.S. Bancorp (NYSE:USB)

Key Points

• Vanguard Group Inc. has increased its stake in U.S. Bancorp by 1.7%, now holding 141,230,279 shares, which is valued at approximately $5.96 billion.
• U.S. Bancorp reported a quarterly earnings per share (EPS) of $1.11, exceeding analysts' estimates, and had revenues of $7.06 billion, highlighting a 2% year-over-year growth.
• The company declared a quarterly dividend of $0.50, representing an annualized yield of 4.5% with a payout ratio of 47.85%.

Vanguard Group Inc. increased its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 1.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 141,230,279 shares of the financial services provider's stock after purchasing an additional 2,393,383 shares during the quarter. Vanguard Group Inc. owned 9.06% of U.S. Bancorp worth $5,962,742,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Westend Capital Management LLC purchased a new stake in U.S. Bancorp during the 1st quarter valued at $27,000. YANKCOM Partnership boosted its position in U.S. Bancorp by 59.4% during the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock valued at $29,000 after buying an additional 260 shares during the period. Alpine Bank Wealth Management purchased a new stake in U.S. Bancorp during the 1st quarter valued at $30,000. REAP Financial Group LLC boosted its position in U.S. Bancorp by 86.1% during the 4th quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock valued at $31,000 after buying an additional 297 shares during the period. Finally, Cornerstone Planning Group LLC boosted its position in U.S. Bancorp by 118.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider's stock valued at $31,000 after buying an additional 420 shares during the period. Hedge funds and other institutional investors own 77.60% of the company's stock.

U.S. Bancorp Stock Up 1.7%

Shares of USB stock traded up $0.77 during mid-day trading on Friday, hitting $44.86. The company's stock had a trading volume of 6,066,952 shares, compared to its average volume of 11,320,853. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The business has a 50-day moving average price of $45.27 and a 200 day moving average price of $43.96. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $69.89 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 1.38 and a beta of 1.01.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.04. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%. The firm had revenue of $7.06 billion during the quarter, compared to analysts' expectations of $7.07 billion. During the same quarter in the previous year, the business earned $0.98 earnings per share. The company's revenue was up 2.0% on a year-over-year basis. Research analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.5%. U.S. Bancorp's payout ratio is presently 47.85%.

Insider Activity at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp stock in a transaction on Monday, July 21st. The stock was sold at an average price of $46.34, for a total value of $1,099,509.18. Following the completion of the sale, the executive vice president owned 70,346 shares of the company's stock, valued at $3,259,833.64. The trade was a 25.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.23% of the stock is owned by insiders.

Analyst Ratings Changes

USB has been the subject of several analyst reports. Piper Sandler dropped their price target on shares of U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Barclays reduced their price objective on shares of U.S. Bancorp from $61.00 to $56.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Oppenheimer boosted their price objective on shares of U.S. Bancorp from $66.00 to $67.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Cowen assumed coverage on shares of U.S. Bancorp in a research report on Wednesday, May 14th. They set a "buy" rating on the stock. Finally, TD Cowen initiated coverage on shares of U.S. Bancorp in a research report on Thursday, May 15th. They set a "buy" rating and a $60.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $52.55.

U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.