U.S. Bancorp $USB Stock Sold by Bahl & Gaynor LLC

Bahl & Gaynor LLC decreased its position in shares of U.S. Bancorp (NYSE:USB) by 3.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,435,336 shares of the financial services provider’s stock after selling 77,861 shares during the quarter. Bahl & Gaynor LLC’s holdings in U.S. Bancorp were worth $140,665,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Mufg Bank LTD. acquired a new stake in U.S. Bancorp during the second quarter worth about $2,680,199,000. Bank of America Corp DE boosted its holdings in U.S. Bancorp by 6.9% in the 1st quarter. Bank of America Corp DE now owns 15,820,033 shares of the financial services provider’s stock valued at $822,800,000 after purchasing an additional 1,022,898 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in U.S. Bancorp by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock valued at $539,232,000 after purchasing an additional 93,025 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in U.S. Bancorp in the 2nd quarter valued at about $536,457,000. Finally, First Trust Advisors LP grew its stake in shares of U.S. Bancorp by 39.9% in the 1st quarter. First Trust Advisors LP now owns 8,118,845 shares of the financial services provider’s stock valued at $422,261,000 after buying an additional 2,314,081 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Gunjan Kedia sold 27,267 shares of U.S. Bancorp stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $62.37, for a total value of $1,700,642.79. Following the completion of the sale, the chief executive officer owned 426,262 shares in the company, valued at approximately $26,585,960.94. This trade represents a 6.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. TD Cowen began coverage on shares of U.S. Bancorp in a report on Thursday, October 8th. They set a “buy” rating and a $70.00 price target for the company. Stephens upped their price objective on U.S. Bancorp from $63.00 to $67.00 and gave the company an “equal weight” rating in a report on Friday, July 17th. Truist Financial decreased their price objective on U.S. Bancorp from $69.00 to $67.00 and set a “buy” rating on the stock in a report on Thursday, October 1st. Royal Bank Of Canada lowered their price objective on U.S. Bancorp from $68.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, October 16th. Finally, Citigroup cut their target price on U.S. Bancorp from $72.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.65.

U.S. Bancorp Trading Down 0.4%

Shares of USB stock opened at $60.72 on Wednesday. U.S. Bancorp has a 1-year low of $45.02 and a 1-year high of $66.07. The firm has a market cap of $94.61 billion, a PE ratio of 11.84, a price-to-earnings-growth ratio of 1.16 and a beta of 1.02. The company has a 50-day moving average of $59.60 and a two-hundred day moving average of $58.23. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.83 and a quick ratio of 0.83.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, October 15th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.02. The business had revenue of $8.04 billion for the quarter, compared to the consensus estimate of $8 billion. U.S. Bancorp had a net margin of 18.85% and a return on equity of 13.85%. The business’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.22 EPS. On average, analysts predict that U.S. Bancorp will post 5.30 EPS for the current year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were issued a $0.54 dividend. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, September 30th. This represents a $2.16 annualized dividend and a yield of 3.6%. U.S. Bancorp’s payout ratio is 42.11%.

U.S. Bancorp Company Profile

U.S. Bancorp is the parent company of U.S. Bank, a financial services provider serving consumers, businesses, institutions and government entities across the United States. Its history traces to 1863, when one of its predecessor institutions, First National Bank of Cincinnati, was established. U.S. Bank offers consumer and business banking, lending, payment services, wealth management, investment services and corporate trust services. Its products include checking and savings accounts, credit cards, mortgages, commercial loans and digital banking solutions.