U.S. Bancorp (NYSE:USB) Shares Bought by Lincoln National Corp

Lincoln National Corp lifted its stake in shares of U.S. Bancorp (NYSE:USB) by 5.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 69,646 shares of the financial services provider’s stock after purchasing an additional 3,708 shares during the period. Lincoln National Corp’s holdings in U.S. Bancorp were worth $3,014,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Scotia Capital Inc. grew its position in shares of U.S. Bancorp by 2.9% during the 3rd quarter. Scotia Capital Inc. now owns 35,012 shares of the financial services provider’s stock valued at $1,158,000 after buying an additional 990 shares during the last quarter. Spinnaker Trust acquired a new stake in shares of U.S. Bancorp during the 4th quarter worth approximately $220,000. Tealwood Asset Management Inc. raised its position in shares of U.S. Bancorp by 33.4% during the 4th quarter. Tealwood Asset Management Inc. now owns 62,539 shares of the financial services provider’s stock worth $2,707,000 after purchasing an additional 15,665 shares during the period. Louisiana State Employees Retirement System bought a new stake in shares of U.S. Bancorp in the 4th quarter worth approximately $4,073,000. Finally, abrdn plc boosted its position in U.S. Bancorp by 71.9% during the 4th quarter. abrdn plc now owns 652,401 shares of the financial services provider’s stock valued at $28,236,000 after purchasing an additional 272,976 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at U.S. Bancorp

In other news, EVP James L. Chosy sold 21,582 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $41.47, for a total transaction of $895,005.54. Following the transaction, the executive vice president now owns 164,880 shares in the company, valued at approximately $6,837,573.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Stock Down 0.6 %

NYSE:USB traded down $0.24 on Tuesday, hitting $41.58. 8,701,298 shares of the company’s stock traded hands, compared to its average volume of 8,546,810. The company has a market cap of $64.88 billion, a PE ratio of 13.85, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05. U.S. Bancorp has a 1 year low of $28.53 and a 1 year high of $45.85. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07. The firm has a 50-day moving average price of $42.34 and a 200-day moving average price of $40.56.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The company had revenue of $6.72 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same quarter last year, the business posted $1.16 EPS. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. Equities analysts anticipate that U.S. Bancorp will post 3.84 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a dividend of $0.49 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.96 annualized dividend and a dividend yield of 4.71%. U.S. Bancorp’s dividend payout ratio is 64.90%.

Analysts Set New Price Targets

USB has been the subject of several analyst reports. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $45.00 price target (down previously from $52.00) on shares of U.S. Bancorp in a report on Thursday, April 18th. JPMorgan Chase & Co. decreased their target price on shares of U.S. Bancorp from $45.00 to $43.50 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. UBS Group dropped their price target on shares of U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. StockNews.com downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, February 20th. Finally, Oppenheimer lowered their target price on U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating on the stock in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $46.02.

U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.