Charles Schwab Investment Management Inc. Increases Stock Position in U.S. Bancorp (NYSE:USB)

Charles Schwab Investment Management Inc. increased its position in U.S. Bancorp (NYSE:USB) by 8.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 33,719,110 shares of the financial services provider’s stock after purchasing an additional 2,598,163 shares during the period. Charles Schwab Investment Management Inc. owned 2.17% of U.S. Bancorp worth $1,459,363,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Scotia Capital Inc. increased its position in 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 worth $1,158,000 after purchasing an additional 990 shares during the period. Spinnaker Trust acquired a new position in shares of U.S. Bancorp during the 4th quarter worth approximately $220,000. Tealwood Asset Management Inc. lifted its stake in U.S. Bancorp by 33.4% in the 4th quarter. Tealwood Asset Management Inc. now owns 62,539 shares of the financial services provider’s stock valued at $2,707,000 after buying an additional 15,665 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in U.S. Bancorp during the fourth quarter worth $4,073,000. Finally, abrdn plc boosted its stake in shares of U.S. Bancorp by 71.9% during the fourth quarter. abrdn plc now owns 652,401 shares of the financial services provider’s stock valued at $28,236,000 after acquiring an additional 272,976 shares during the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the sale, the executive vice president now directly owns 164,880 shares in the company, valued at $6,837,573.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

USB has been the topic of several research reports. DA Davidson cut their target price on U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Thursday, April 18th. Morgan Stanley increased their target price on shares of U.S. Bancorp from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. HSBC upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $47.00 to $53.00 in a research note on Thursday, March 28th. Oppenheimer reduced their target price on shares of U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday, April 18th. Finally, StockNews.com cut U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $46.02.

U.S. Bancorp Stock Performance

NYSE:USB traded down $0.20 on Wednesday, reaching $41.38. 4,093,520 shares of the company’s stock were exchanged, compared to its average volume of 8,495,938. The firm has a market cap of $64.57 billion, a price-to-earnings ratio of 13.67, a P/E/G ratio of 2.16 and a beta of 1.05. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81. The stock has a fifty day simple moving average of $42.35 and a 200-day simple moving average of $40.64. U.S. Bancorp has a 52 week low of $28.53 and a 52 week high of $45.85.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The firm had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.71 billion. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.16 EPS. As a group, sell-side analysts predict that U.S. Bancorp will post 3.84 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a $0.49 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.96 annualized dividend and a dividend yield of 4.74%. U.S. Bancorp’s payout ratio is presently 64.90%.

U.S. Bancorp Company 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.