Osaic Holdings Inc. Buys 102,363 Shares of U.S. Bancorp $USB

Osaic Holdings Inc. boosted its position in U.S. Bancorp (NYSE:USB) by 24.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 516,002 shares of the financial services provider’s stock after acquiring an additional 102,363 shares during the quarter. Osaic Holdings Inc.’s holdings in U.S. Bancorp were worth $23,107,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in USB. Vanguard Group Inc. increased its position in shares of U.S. Bancorp by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 143,269,275 shares of the financial services provider’s stock valued at $6,482,935,000 after purchasing an additional 2,038,996 shares during the last quarter. Geode Capital Management LLC grew its position in U.S. Bancorp by 1.3% during the second quarter. Geode Capital Management LLC now owns 36,632,410 shares of the financial services provider’s stock valued at $1,650,305,000 after acquiring an additional 456,890 shares during the last quarter. Norges Bank bought a new position in U.S. Bancorp during the second quarter valued at approximately $971,285,000. Amundi raised its stake 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 worth $773,268,000 after acquiring an additional 422,050 shares in the last quarter. Finally, Davis Selected Advisers lifted its holdings in shares of U.S. Bancorp by 29.8% in the 2nd quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock worth $874,757,000 after acquiring an additional 4,442,623 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

U.S. Bancorp stock opened at $53.75 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10. The firm has a market cap of $83.55 billion, a P/E ratio of 12.30, a P/E/G ratio of 1.01 and a beta of 1.10. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $54.04. The firm has a 50-day moving average of $48.43 and a 200-day moving average of $47.26.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The business had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.17 billion. During the same quarter in the prior year, the company posted $1.03 EPS. U.S. Bancorp’s quarterly revenue was up 6.8% compared to the same quarter last year. Sell-side analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio is currently 47.60%.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several equities analysts recently commented on USB shares. Evercore ISI increased their target price on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Citigroup raised their price objective on U.S. Bancorp from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Keefe, Bruyette & Woods boosted their target price on U.S. Bancorp from $53.00 to $58.00 and gave the company a “market perform” rating in a research note on Wednesday. The Goldman Sachs Group set a $52.00 target price on U.S. Bancorp and gave the company a “neutral” rating in a report on Friday, October 17th. Finally, Truist Financial lifted their price target on U.S. Bancorp from $51.00 to $52.00 and gave the stock a “hold” rating in a research note on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $54.63.

About U.S. Bancorp

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.