Franklin Resources Inc. Raises Holdings in U.S. Bancorp $USB

Franklin Resources Inc. lifted its holdings in U.S. Bancorp (NYSE:USB) by 1.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 7,789,798 shares of the financial services provider’s stock after purchasing an additional 127,065 shares during the quarter. Franklin Resources Inc.’s holdings in U.S. Bancorp were worth $415,664,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in U.S. Bancorp in the fourth quarter valued at $1,887,497,000. Capital Research Global Investors acquired a new position in shares of U.S. Bancorp during the 4th quarter worth $296,377,000. SG Americas Securities LLC increased its holdings in shares of U.S. Bancorp by 3,451.9% in the 4th quarter. SG Americas Securities LLC now owns 4,332,659 shares of the financial services provider’s stock valued at $231,191,000 after purchasing an additional 4,210,676 shares in the last quarter. Davis Selected Advisers increased its holdings in shares of U.S. Bancorp by 13.4% in the 4th quarter. Davis Selected Advisers now owns 22,041,759 shares of the financial services provider’s stock valued at $1,176,148,000 after purchasing an additional 2,610,197 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of U.S. Bancorp by 354.5% in the second quarter. AQR Capital Management LLC now owns 2,855,350 shares of the financial services provider’s stock valued at $129,205,000 after purchasing an additional 2,227,103 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 0.6%

Shares of NYSE USB opened at $55.34 on Tuesday. The firm’s 50-day moving average is $54.79 and its two-hundred day moving average is $54.29. The company has a market capitalization of $85.83 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 1.00 and a beta of 0.97. U.S. Bancorp has a 12-month low of $42.55 and a 12-month high of $61.19. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The firm had revenue of $7.32 billion during the quarter, compared to the consensus estimate of $7.27 billion. During the same period in the previous year, the firm posted $1.03 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities analysts anticipate that U.S. Bancorp will post 5.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on USB shares. Piper Sandler reissued a “buy” rating on shares of U.S. Bancorp in a report on Thursday, February 26th. Truist Financial reduced their price target on shares of U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, April 17th. Morgan Stanley set a $64.00 price target on U.S. Bancorp in a report on Friday, April 17th. Wall Street Zen downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, JPMorgan Chase & Co. reduced their price objective on U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating for the company in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.20.

Insider Buying and Selling at U.S. Bancorp

In related news, insider Jodi L. Richard sold 40,000 shares of U.S. Bancorp stock in a transaction dated 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 completion of the sale, the insider owned 207,251 shares in the company, valued at approximately $11,813,307. This trade represents a 16.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Venkatachari Dilip sold 34,522 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the transaction, the executive vice president directly owned 51,292 shares of the company’s stock, valued at $2,847,731.84. The trade was a 40.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company’s stock.

U.S. Bancorp 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.