Capital Research Global Investors Invests $296.38 Million in U.S. Bancorp $USB

Capital Research Global Investors acquired a new position in shares of U.S. Bancorp (NYSE:USB) in the fourth quarter, Holdings Channel.com reports. The fund acquired 5,554,298 shares of the financial services provider’s stock, valued at approximately $296,377,000.

A number of other hedge funds also recently made changes to their positions in the stock. Paulson Wealth Management Inc. lifted its holdings in shares of U.S. Bancorp by 2.0% during the 4th quarter. Paulson Wealth Management Inc. now owns 8,780 shares of the financial services provider’s stock worth $469,000 after acquiring an additional 173 shares during the last quarter. Gilbert & Cook Inc. lifted its holdings in shares of U.S. Bancorp by 1.2% during the 4th quarter. Gilbert & Cook Inc. now owns 15,590 shares of the financial services provider’s stock worth $832,000 after acquiring an additional 184 shares during the last quarter. Flputnam Investment Management Co. lifted its holdings in shares of U.S. Bancorp by 1.4% during the 4th quarter. Flputnam Investment Management Co. now owns 13,721 shares of the financial services provider’s stock worth $732,000 after acquiring an additional 186 shares during the last quarter. Genesis Private Wealth LLC lifted its holdings in shares of U.S. Bancorp by 2.3% during the 4th quarter. Genesis Private Wealth LLC now owns 8,348 shares of the financial services provider’s stock worth $445,000 after acquiring an additional 187 shares during the last quarter. Finally, RiverFront Investment Group LLC lifted its holdings in shares of U.S. Bancorp by 3.0% during the 4th quarter. RiverFront Investment Group LLC now owns 6,623 shares of the financial services provider’s stock worth $353,000 after acquiring an additional 196 shares during the last quarter. 77.60% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Jodi L. Richard sold 40,000 shares of the business’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the transaction, the insider owned 207,251 shares in the company, valued at $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Venkatachari Dilip sold 34,522 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the transaction, the executive vice president owned 51,292 shares in the company, valued at $2,847,731.84. This represents a 40.23% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by insiders.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $55.70 on Monday. U.S. Bancorp has a 1 year low of $42.55 and a 1 year high of $61.19. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. The company’s 50-day moving average is $54.71 and its 200 day moving average is $54.23. The stock has a market capitalization of $86.39 billion, a P/E ratio of 11.68, a P/E/G ratio of 1.00 and a beta of 0.97.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The company had revenue of $7.32 billion for the quarter, compared to analysts’ expectations of $7.27 billion. During the same quarter in the previous year, the company earned $1.03 earnings per share. U.S. Bancorp’s quarterly revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts expect that U.S. Bancorp will post 5.09 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a dividend of $0.52 per share. The ex-dividend date was Tuesday, March 31st. This represents a $2.08 annualized dividend and a dividend yield of 3.7%. U.S. Bancorp’s payout ratio is currently 43.61%.

Analyst Ratings Changes

A number of research firms have recently issued reports on USB. Truist Financial dropped their price objective on shares of U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating for the company in a report on Friday, April 17th. DA Davidson reaffirmed a “buy” rating and set a $65.00 price objective on shares of U.S. Bancorp in a report on Friday, April 17th. Oppenheimer lifted their price objective on shares of U.S. Bancorp from $73.00 to $74.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Weiss Ratings raised shares of U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating for the company in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $61.20.

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.