Trust Point Inc. Acquires 12,052 Shares of U.S. Bancorp $USB

Trust Point Inc. lifted its holdings in U.S. Bancorp (NYSE:USB) by 105.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,475 shares of the financial services provider’s stock after buying an additional 12,052 shares during the quarter. Trust Point Inc.’s holdings in U.S. Bancorp were worth $1,418,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Financial Life Planners bought a new position in shares of U.S. Bancorp in the first quarter worth about $27,000. Main Street Group LTD bought a new position in U.S. Bancorp in the 1st quarter worth about $28,000. JPL Wealth Management LLC bought a new stake in shares of U.S. Bancorp during the third quarter valued at approximately $28,000. Binnacle Investments Inc boosted its holdings in shares of U.S. Bancorp by 77.8% in the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 273 shares during the period. Finally, NFSG Corp purchased a new stake in shares of U.S. Bancorp in the first quarter valued at approximately $31,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $63.90 on Friday. The company has a market cap of $99.11 billion, a PE ratio of 12.75, a P/E/G ratio of 1.05 and a beta of 0.96. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.82 and a current ratio of 0.83. The business has a 50-day simple moving average of $60.73 and a two-hundred day simple moving average of $57.04. U.S. Bancorp has a fifty-two week low of $44.15 and a fifty-two week high of $65.02.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.07. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.The firm had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.58 billion. During the same quarter last year, the firm posted $1.11 EPS. As a group, equities analysts expect that U.S. Bancorp will post 5.22 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 41.52%.

Insider Activity

In other news, insider Stephen L. Philipson sold 36,906 shares of U.S. Bancorp stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $63.08, for a total value of $2,328,030.48. Following the sale, the insider owned 74,969 shares in the company, valued at $4,729,044.52. This trade represents a 32.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.21% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on USB shares. Barclays raised their price target on U.S. Bancorp from $67.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. JPMorgan Chase & Co. boosted their price target on shares of U.S. Bancorp from $67.50 to $69.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Morgan Stanley increased their price objective on shares of U.S. Bancorp from $64.00 to $67.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Truist Financial upped their target price on U.S. Bancorp from $66.00 to $69.00 and gave the stock a “buy” rating in a report on Friday, July 17th. Finally, UBS Group increased their target price on U.S. Bancorp from $58.00 to $66.00 and gave the company a “neutral” rating in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $67.06.

About U.S. Bancorp

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.