Globeflex Capital L P Invests $7.89 Million in U.S. Bancorp $USB

Globeflex Capital L P purchased a new stake in shares of U.S. Bancorp (NYSE:USB) during the 2nd quarter, Holdings Channel reports. The fund purchased 174,454 shares of the financial services provider’s stock, valued at approximately $7,894,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of U.S. Bancorp by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 143,269,275 shares of the financial services provider’s stock worth $6,482,935,000 after acquiring an additional 2,038,996 shares during the last quarter. Geode Capital Management LLC raised its position in U.S. Bancorp by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 36,632,410 shares of the financial services provider’s stock worth $1,650,305,000 after purchasing an additional 456,890 shares during the period. Norges Bank bought a new stake in U.S. Bancorp in the second quarter worth about $971,285,000. Amundi boosted its position in shares of U.S. Bancorp by 2.2% during the first quarter. Amundi now owns 19,907,665 shares of the financial services provider’s stock valued at $773,268,000 after buying an additional 422,050 shares during the period. Finally, Davis Selected Advisers boosted its position in shares of U.S. Bancorp by 29.8% during 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 buying an additional 4,442,623 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Trading Up 0.0%

NYSE USB opened at $53.59 on Friday. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.96. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $83.29 billion, a price-to-earnings ratio of 12.26, a price-to-earnings-growth ratio of 1.01 and a beta of 1.10. The company’s 50-day simple moving average is $47.94 and its two-hundred day simple moving average is $46.95.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. The firm had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.17 billion. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the firm earned $1.03 earnings per share. Equities analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Wednesday, December 31st. U.S. Bancorp’s payout ratio is presently 47.60%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Truist Financial boosted their price objective on U.S. Bancorp from $51.00 to $52.00 and gave the company a “hold” rating in a report on Friday, October 17th. Deutsche Bank Aktiengesellschaft raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 target price for the company in a research note on Thursday, October 23rd. Wells Fargo & Company raised their price target on shares of U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Morgan Stanley restated a “positive” rating on shares of U.S. Bancorp in a research note on Friday, October 17th. Finally, DA Davidson lifted their price target on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.16.

Insider Activity

In other U.S. Bancorp news, Chairman Andrew Cecere sold 140,445 shares of U.S. Bancorp stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.34, for a total value of $6,508,221.30. Following the transaction, the chairman owned 1,360,414 shares in the company, valued at $63,041,584.76. The trade was a 9.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James L. Chosy sold 26,909 shares of U.S. Bancorp stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the completion of the transaction, the executive vice president directly owned 226,375 shares in the company, valued at approximately $10,607,932.50. The trade was a 10.62% decrease in their position. The SEC filing for this sale provides additional information. 0.23% of the stock is owned by insiders.

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.