Field & Main Bank Purchases New Position in U.S. Bancorp $USB

Field & Main Bank acquired a new position in U.S. Bancorp (NYSE:USB) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,300 shares of the financial services provider’s stock, valued at approximately $743,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in USB. Inceptionr LLC increased its holdings in shares of U.S. Bancorp by 424.4% during the 4th quarter. Inceptionr LLC now owns 27,614 shares of the financial services provider’s stock valued at $1,473,000 after purchasing an additional 22,348 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in U.S. Bancorp by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock worth $539,232,000 after buying an additional 93,025 shares in the last quarter. Keudell Morrison Wealth Management acquired a new stake in U.S. Bancorp during the fourth quarter valued at $2,856,000. Principal Financial Group Inc. increased its holdings in U.S. Bancorp by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 1,769,589 shares of the financial services provider’s stock valued at $94,425,000 after buying an additional 49,733 shares in the last quarter. Finally, ABN Amro Investment Solutions increased its holdings in U.S. Bancorp by 7.9% in the fourth quarter. ABN Amro Investment Solutions now owns 252,961 shares of the financial services provider’s stock valued at $13,498,000 after buying an additional 18,468 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Up 0.2%

USB stock opened at $62.50 on Friday. The stock has a market capitalization of $97.38 billion, a P/E ratio of 12.48, a P/E/G ratio of 1.02 and a beta of 0.96. The firm has a 50-day simple moving average of $62.84 and a 200-day simple moving average of $57.75. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96. U.S. Bancorp has a 52 week low of $45.02 and a 52 week high of $66.07.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates 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 $7.69 billion for the quarter, compared to analyst estimates of $7.58 billion. During the same period last year, the company posted $1.11 EPS. Equities analysts forecast that U.S. Bancorp will post 5.22 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio (DPR) is 41.52%.

Analysts Set New Price Targets

USB has been the subject of a number of analyst reports. Oppenheimer upped their price objective on shares of U.S. Bancorp from $73.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Stephens lifted their price target on U.S. Bancorp from $63.00 to $67.00 and gave the company an “equal weight” rating in a research note on Friday, July 17th. BTIG Research set a $67.50 price target on U.S. Bancorp in a report on Monday, July 20th. Raymond James Financial began coverage on U.S. Bancorp in a research report on Wednesday, July 8th. They set a “strong-buy” rating and a $72.00 price target on the stock. Finally, Truist Financial raised their price objective on U.S. Bancorp from $66.00 to $69.00 and gave the company a “buy” rating in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, U.S. Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $67.06.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Stephen L. Philipson sold 36,906 shares of U.S. Bancorp stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $63.08, for a total value of $2,328,030.48. Following the sale, the insider directly owned 74,969 shares of the company’s stock, valued at $4,729,044.52. The trade was a 32.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.21% of the stock is currently owned by company insiders.

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.