U.S. Bancorp $USB Shares Sold by Equity Investment Corp

Equity Investment Corp lowered its position in shares of U.S. Bancorp (NYSE:USB) by 0.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,292,728 shares of the financial services provider’s stock after selling 13,930 shares during the quarter. U.S. Bancorp accounts for about 3.3% of Equity Investment Corp’s holdings, making the stock its 4th largest position. Equity Investment Corp owned approximately 0.21% of U.S. Bancorp worth $159,138,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Brighton Jones LLC raised its stake in U.S. Bancorp by 323.0% during the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock valued at $2,309,000 after purchasing an additional 36,863 shares during the period. Empowered Funds LLC grew its holdings in shares of U.S. Bancorp by 2.1% during the first quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock valued at $1,453,000 after buying an additional 714 shares in the last quarter. Intech Investment Management LLC raised its position in U.S. Bancorp by 18.9% during the first quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider’s stock valued at $1,658,000 after buying an additional 6,252 shares during the period. Sivia Capital Partners LLC purchased a new stake in U.S. Bancorp in the 2nd quarter worth about $425,000. Finally, QRG Capital Management Inc. boosted its position in U.S. Bancorp by 7.5% during the 2nd quarter. QRG Capital Management Inc. now owns 97,575 shares of the financial services provider’s stock worth $4,415,000 after acquiring an additional 6,844 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Barclays upped their target price on U.S. Bancorp from $56.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Wells Fargo & Company lifted their target price on shares of U.S. Bancorp from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. DA Davidson boosted their price target on shares of U.S. Bancorp from $63.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Truist Financial increased their price objective on U.S. Bancorp from $58.00 to $61.00 and gave the stock a “hold” rating in a report on Wednesday, January 21st. Finally, Keefe, Bruyette & Woods lifted their price objective on U.S. Bancorp from $58.00 to $59.00 and gave the company a “market perform” rating in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.19.

U.S. Bancorp Trading Up 2.5%

Shares of NYSE:USB opened at $58.78 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $91.36 billion, a PE ratio of 12.72, a P/E/G ratio of 1.03 and a beta of 1.06. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $58.86. The firm has a fifty day moving average price of $53.92 and a 200 day moving average price of $49.62.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.07. The company had revenue of $7.92 billion for the quarter, compared to analyst estimates of $7.31 billion. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The business’s revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company earned $1.07 earnings per share. Analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.5%. The ex-dividend date was Wednesday, December 31st. U.S. Bancorp’s payout ratio is 45.02%.

U.S. Bancorp Company 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.