U.S. Bancorp $USB is Maltese Capital Management LLC’s 8th Largest Position

Maltese Capital Management LLC raised its position in U.S. Bancorp (NYSE:USB) by 1,320.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 284,000 shares of the financial services provider’s stock after purchasing an additional 264,000 shares during the period. U.S. Bancorp accounts for 2.1% of Maltese Capital Management LLC’s investment portfolio, making the stock its 8th biggest position. Maltese Capital Management LLC’s holdings in U.S. Bancorp were worth $13,726,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank purchased a new stake in U.S. Bancorp during the second quarter valued at about $971,285,000. Arrowstreet Capital Limited Partnership lifted its position in U.S. Bancorp by 1,589.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,472,252 shares of the financial services provider’s stock worth $157,119,000 after buying an additional 3,266,724 shares during the last quarter. AQR Capital Management LLC boosted its stake in U.S. Bancorp by 354.5% in the second quarter. AQR Capital Management LLC now owns 2,855,350 shares of the financial services provider’s stock worth $129,205,000 after buying an additional 2,227,103 shares in the last quarter. Vanguard Group Inc. grew its position in U.S. Bancorp by 1.4% during the second quarter. Vanguard Group Inc. now owns 143,269,275 shares of the financial services provider’s stock valued at $6,482,935,000 after acquiring an additional 2,038,996 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of U.S. Bancorp by 16.4% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,598,572 shares of the financial services provider’s stock worth $560,559,000 after acquiring an additional 1,631,550 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Mark G. Runkel sold 32,195 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the completion of the sale, the insider directly owned 97,728 shares of the company’s stock, valued at approximately $5,927,203.20. This represents a 24.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.21% of the company’s stock.

U.S. Bancorp Trading Up 0.3%

NYSE USB opened at $51.15 on Tuesday. The firm has a market capitalization of $79.40 billion, a PE ratio of 11.07, a P/E/G ratio of 0.91 and a beta of 1.04. The stock’s 50 day moving average is $55.77 and its 200 day moving average is $51.64. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $61.19. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 EPS for the quarter, beating the consensus estimate of $1.19 by $0.07. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The business had revenue of $7.92 billion during the quarter, compared to analyst estimates of $7.31 billion. During the same quarter last year, the firm posted $1.07 earnings per share. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. Research analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.1%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 45.02%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on USB shares. HSBC reaffirmed a “buy” rating and set a $62.00 price objective on shares of U.S. Bancorp in a research note on Wednesday, January 7th. Barclays lifted their price target on U.S. Bancorp from $56.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Argus increased their price objective on U.S. Bancorp from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Piper Sandler restated a “buy” rating on shares of U.S. Bancorp in a report on Thursday, February 26th. Finally, UBS Group reiterated a “neutral” rating and set a $60.00 price target on shares of U.S. Bancorp in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.02.

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.