Eurizon Capital SGR S.p.A. Invests $58.58 Million in U.S. Bancorp $USB

Eurizon Capital SGR S.p.A. bought a new position in shares of U.S. Bancorp (NYSE:USB) in the fourth quarter, Holdings Channel reports. The firm bought 1,097,345 shares of the financial services provider’s stock, valued at approximately $58,576,000.

Other institutional investors have also modified their holdings of the company. Guerra Advisors Inc acquired a new position in U.S. Bancorp during the 3rd quarter worth approximately $25,000. Financial Life Planners acquired a new position in U.S. Bancorp during the 3rd quarter worth approximately $25,000. Clayton Financial Group LLC acquired a new position in U.S. Bancorp during the 4th quarter worth approximately $25,000. JPL Wealth Management LLC acquired a new position in U.S. Bancorp during the 3rd quarter worth approximately $28,000. Finally, Binnacle Investments Inc lifted its position in U.S. Bancorp by 77.8% during the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 273 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of USB opened at $54.87 on Friday. The business’s 50 day moving average is $54.42 and its two-hundred day moving average is $53.92. U.S. Bancorp has a 52-week low of $42.55 and a 52-week high of $61.19. The firm has a market cap of $85.17 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 0.98 and a beta of 1.00. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03.

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

U.S. Bancorp Dividend Announcement

The company 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. This represents a $2.08 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Tuesday, March 31st. U.S. Bancorp’s dividend payout ratio is currently 43.61%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on USB. JPMorgan Chase & Co. reduced their price target on U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating on the stock in a research report on Thursday, April 30th. Piper Sandler reissued a “buy” rating on shares of U.S. Bancorp in a research report on Thursday, February 26th. Barclays boosted their price target on U.S. Bancorp from $65.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. Evercore boosted their price target on U.S. Bancorp from $60.00 to $65.00 and gave the stock an “in-line” rating in a research report on Thursday, February 5th. Finally, Weiss Ratings raised U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.20.

Insider Activity at U.S. Bancorp

In related news, insider Jodi L. Richard sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction 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. This represents a 16.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following 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. Corporate insiders own 0.21% of the company’s stock.

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.