Federated Hermes Inc. Has $415.94 Million Stock Holdings in U.S. Bancorp (NYSE:USB)

Federated Hermes Inc. increased its stake in U.S. Bancorp (NYSE:USB) by 0.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,610,404 shares of the financial services provider’s stock after acquiring an additional 10,640 shares during the quarter. U.S. Bancorp accounts for approximately 1.0% of Federated Hermes Inc.’s portfolio, making the stock its 10th largest position. Federated Hermes Inc.’s holdings in U.S. Bancorp were worth $415,938,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of USB. Scotia Capital Inc. grew its position in U.S. Bancorp by 2.9% in the 3rd quarter. Scotia Capital Inc. now owns 35,012 shares of the financial services provider’s stock valued at $1,158,000 after purchasing an additional 990 shares during the period. Tealwood Asset Management Inc. grew its position in U.S. Bancorp by 33.4% in the 4th quarter. Tealwood Asset Management Inc. now owns 62,539 shares of the financial services provider’s stock valued at $2,707,000 after purchasing an additional 15,665 shares during the period. Louisiana State Employees Retirement System acquired a new stake in U.S. Bancorp in the 4th quarter valued at $4,073,000. Van ECK Associates Corp grew its position in U.S. Bancorp by 19.4% in the 3rd quarter. Van ECK Associates Corp now owns 8,677,378 shares of the financial services provider’s stock valued at $286,874,000 after purchasing an additional 1,410,324 shares during the period. Finally, SG Americas Securities LLC grew its position in U.S. Bancorp by 104.3% in the 4th quarter. SG Americas Securities LLC now owns 105,090 shares of the financial services provider’s stock valued at $4,548,000 after purchasing an additional 53,653 shares during the period. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

Shares of USB traded up $0.45 during midday trading on Thursday, hitting $39.97. 3,272,443 shares of the company traded hands, compared to its average volume of 8,705,787. U.S. Bancorp has a one year low of $27.27 and a one year high of $45.85. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $62.28 billion, a P/E ratio of 12.06, a PEG ratio of 2.12 and a beta of 1.05. The stock has a 50-day moving average of $42.33 and a 200-day moving average of $39.72.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.01. The business had revenue of $6.72 billion during the quarter, compared to analyst estimates of $6.71 billion. U.S. Bancorp had a return on equity of 14.89% and a net margin of 13.36%. U.S. Bancorp’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.16 earnings per share. As a group, sell-side analysts predict that U.S. Bancorp will post 3.87 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 4.90%. The ex-dividend date was Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio is currently 59.76%.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Terrance R. Dolan sold 26,583 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total value of $1,152,904.71. Following the completion of the sale, the insider now owns 144,236 shares of the company’s stock, valued at $6,255,515.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP James L. Chosy sold 21,582 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the transaction, the executive vice president now owns 164,880 shares in the company, valued at $6,837,573.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Terrance R. Dolan sold 26,583 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the completion of the transaction, the insider now owns 144,236 shares in the company, valued at approximately $6,255,515.32. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on USB. UBS Group lifted their price target on shares of U.S. Bancorp from $35.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, January 17th. Jefferies Financial Group lifted their price objective on shares of U.S. Bancorp from $44.00 to $46.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Stephens downgraded shares of U.S. Bancorp from an “overweight” rating to an “equal weight” rating in a report on Wednesday, December 20th. Oppenheimer cut their price objective on shares of U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Compass Point raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $46.00 to $49.00 in a report on Friday, March 22nd. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $46.86.

U.S. Bancorp Company 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.