U.S. Bancorp $USB Stock Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its holdings in U.S. Bancorp (NYSE:USB) by 12.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,338,154 shares of the financial services provider’s stock after buying an additional 150,600 shares during the quarter. Russell Investments Group Ltd.’s holdings in U.S. Bancorp were worth $77,365,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of USB. R Squared Ltd bought a new position in shares of U.S. Bancorp during the third quarter valued at approximately $428,000. Maryland State Retirement & Pension System lifted its holdings in shares of U.S. Bancorp by 13.1% in the 3rd quarter. Maryland State Retirement & Pension System now owns 94,631 shares of the financial services provider’s stock worth $5,466,000 after purchasing an additional 10,942 shares during the last quarter. International Private Wealth Advisors LLC lifted its holdings in shares of U.S. Bancorp by 18.8% in the 3rd quarter. International Private Wealth Advisors LLC now owns 7,170 shares of the financial services provider’s stock worth $414,000 after purchasing an additional 1,137 shares during the last quarter. DSG Capital Advisors LLC lifted its holdings in shares of U.S. Bancorp by 7.5% in the 3rd quarter. DSG Capital Advisors LLC now owns 28,539 shares of the financial services provider’s stock worth $1,648,000 after purchasing an additional 1,994 shares during the last quarter. Finally, Silver Grove Financial Group Inc. boosted its position in U.S. Bancorp by 13.9% during the 3rd quarter. Silver Grove Financial Group Inc. now owns 1,771 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 216 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Performance

Shares of NYSE:USB traded up $0.53 on Friday, hitting $60.99. The company’s stock had a trading volume of 4,033,892 shares, compared to its average volume of 7,119,969. U.S. Bancorp has a 12 month low of $45.02 and a 12 month high of $66.07. The company has a market capitalization of $95.04 billion, a price-to-earnings ratio of 11.89, a price-to-earnings-growth ratio of 1.15 and a beta of 1.02. The stock’s 50-day moving average is $59.50 and its two-hundred day moving average is $58.30. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.83 and a current ratio of 0.83.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, October 15th. The financial services provider reported $1.34 earnings per share 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 analysts’ expectations of $8 billion. U.S. Bancorp had a net margin of 18.85% and a return on equity of 13.85%. The company’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.22 earnings per share. On average, equities research analysts forecast 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. Shareholders of record on Wednesday, September 30th were paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Wednesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.52. U.S. Bancorp’s dividend payout ratio is 42.11%.

Analyst Ratings Changes

USB has been the subject of a number of recent research reports. The Goldman Sachs Group restated a “neutral” rating and set a $64.00 price objective (down from $71.00) on shares of U.S. Bancorp in a research note on Thursday, October 15th. Morgan Stanley set a $68.00 target price on U.S. Bancorp in a research note on Friday, October 16th. Evercore reissued an “outperform” rating and set a $67.00 price target (down from $72.00) on shares of U.S. Bancorp in a report on Wednesday, October 28th. Truist Financial lowered their price target on shares of U.S. Bancorp from $69.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday, October 1st. Finally, JPMorgan Chase & Co. upped their target price on shares of U.S. Bancorp from $65.00 to $65.50 and gave the stock a “neutral” rating in a research report on Friday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.65.

Insider Buying and Selling

In other U.S. Bancorp news, CEO Gunjan Kedia sold 27,267 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the sale, the chief executive officer directly owned 426,262 shares in the company, valued at approximately $26,585,960.94. The trade was a 6.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.21% of the company’s stock.

About U.S. Bancorp

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.