LSV Asset Management Reduces Stock Position in U.S. Bancorp $USB

LSV Asset Management cut its position in U.S. Bancorp (NYSE:USB) by 2.3% during the third quarter, Holdings Channel reports. The firm owned 408,000 shares of the financial services provider’s stock after selling 9,800 shares during the period. LSV Asset Management’s holdings in U.S. Bancorp were worth $19,719,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of USB. Vanguard Group Inc. increased its holdings in U.S. Bancorp by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 143,269,275 shares of the financial services provider’s stock worth $6,482,935,000 after buying an additional 2,038,996 shares during the period. Geode Capital Management LLC boosted its holdings in shares of U.S. Bancorp by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 36,632,410 shares of the financial services provider’s stock valued at $1,650,305,000 after acquiring an additional 456,890 shares during the last quarter. Norges Bank acquired a new stake in shares of U.S. Bancorp in the second quarter worth $971,285,000. Davis Selected Advisers increased its stake in shares of U.S. Bancorp by 29.8% in the second quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock worth $874,757,000 after acquiring an additional 4,442,623 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its holdings in shares of U.S. Bancorp by 3.7% during the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 16,569,422 shares of the financial services provider’s stock worth $749,766,000 after purchasing an additional 585,968 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Mark G. Runkel sold 32,195 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the completion of the transaction, the insider owned 97,728 shares of the company’s stock, valued at $5,927,203.20. This represents a 24.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Down 0.3%

Shares of NYSE:USB opened at $57.66 on Friday. The business’s 50 day moving average price is $55.43 and its 200-day moving average price is $50.34. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $61.19. The firm has a market capitalization of $89.63 billion, a price-to-earnings ratio of 12.48, a price-to-earnings-growth ratio of 1.03 and a beta of 1.06. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. The company had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.31 billion. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.07 earnings per share. On average, equities research analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a $0.52 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $2.08 dividend on an annualized basis and a yield of 3.6%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 45.02%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Truist Financial increased their price target on U.S. Bancorp from $58.00 to $61.00 and gave the stock a “hold” rating in a research report on Wednesday, January 21st. JPMorgan Chase & Co. raised their target price on U.S. Bancorp from $55.50 to $62.00 and gave the stock an “underweight” rating in a report on Monday, February 9th. Keefe, Bruyette & Woods lifted their price target 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. UBS Group restated a “neutral” rating and issued a $60.00 price objective on shares of U.S. Bancorp in a research report on Wednesday, February 4th. Finally, Evercore lifted their target price on shares of U.S. Bancorp from $60.00 to $65.00 and gave the company an “in-line” rating in a report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.79.

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.