Heartland Bank & Trust Co purchased a new position in U.S. Bancorp (NYSE:USB – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 8,824 shares of the financial services provider’s stock, valued at approximately $459,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Inceptionr LLC increased its position in shares of U.S. Bancorp by 424.4% during the fourth quarter. Inceptionr LLC now owns 27,614 shares of the financial services provider’s stock valued at $1,473,000 after buying an additional 22,348 shares during the period. Nordea Investment Management AB raised its stake in U.S. Bancorp by 15.3% in the fourth quarter. Nordea Investment Management AB now owns 2,690,174 shares of the financial services provider’s stock worth $144,462,000 after buying an additional 357,300 shares in the last quarter. Savvy Advisors Inc. lifted its holdings in U.S. Bancorp by 244.4% in the fourth quarter. Savvy Advisors Inc. now owns 30,872 shares of the financial services provider’s stock worth $1,647,000 after buying an additional 21,907 shares during the period. Cardinal Capital Management Inc. boosted its position in U.S. Bancorp by 17.3% during the 4th quarter. Cardinal Capital Management Inc. now owns 285,196 shares of the financial services provider’s stock valued at $15,218,000 after acquiring an additional 42,095 shares in the last quarter. Finally, Keudell Morrison Wealth Management bought a new stake in U.S. Bancorp during the 4th quarter valued at approximately $2,856,000. 77.60% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research firms have weighed in on USB. Jefferies Financial Group upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and upped their target price for the stock from $60.00 to $75.00 in a report on Monday, July 6th. Oppenheimer lifted their price target on U.S. Bancorp from $73.00 to $77.00 and gave the company an “outperform” rating in a research report on Friday. DA Davidson upped their price target on U.S. Bancorp from $72.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday. Stephens increased their price objective on U.S. Bancorp from $63.00 to $67.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Keefe, Bruyette & Woods increased their price objective on U.S. Bancorp from $63.00 to $66.00 and gave the stock a “market perform” rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $66.52.
U.S. Bancorp Price Performance
Shares of USB opened at $63.14 on Friday. U.S. Bancorp has a fifty-two week low of $43.46 and a fifty-two week high of $64.84. The firm’s 50-day simple moving average is $57.89 and its two-hundred day simple moving average is $56.08. The stock has a market cap of $97.93 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 1.08 and a beta of 0.96. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.81 and a current ratio of 0.83.
U.S. Bancorp (NYSE:USB – Get Free Report) last released its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The firm had revenue of $7.71 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same period last year, the business earned $1.11 earnings per share. Analysts anticipate that U.S. Bancorp will post 5.18 earnings per share for the current fiscal year.
U.S. Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio (DPR) is 43.61%.
Insiders Place Their Bets
In other U.S. Bancorp news, insider Jodi L. Richard sold 40,000 shares of the business’s stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the sale, the insider directly owned 207,251 shares of the company’s stock, valued at approximately $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the sale, the executive vice president directly owned 51,292 shares in the company, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by insiders.
More U.S. Bancorp News
Here are the key news stories impacting U.S. Bancorp this week:
- Positive Sentiment: U.S. Bancorp posted Q2 earnings of $1.35 per share on revenue of $7.71 billion, both above estimates, with record quarterly revenue driven by loan growth, fee income, and a boost from its BTIG acquisition. U.S. Bancorp Q2 Earnings Beat Estimates on NII & Fee Revenue Growth
- Positive Sentiment: Management raised full-year revenue guidance to a 7% to 9% growth range, signaling confidence that momentum from higher net interest income and fee revenue will continue. Is USB’s Stronger Outlook And BTIG Fee Push Altering The Investment Case For U.S. Bancorp (USB)?
- Positive Sentiment: Several firms lifted price targets after the earnings release, including Oppenheimer, Wells Fargo, Truist, RBC, and Baird, reflecting improved sentiment around USB’s outlook. US Bancorp analysts boost their forecasts after upbeat Q2 results
About U.S. Bancorp
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.
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