M&T Bank Corp Decreases Stock Position in U.S. Bancorp $USB

M&T Bank Corp lessened its stake in shares of U.S. Bancorp (NYSE:USB) by 7.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 655,677 shares of the financial services provider’s stock after selling 54,414 shares during the period. M&T Bank Corp’s holdings in U.S. Bancorp were worth $31,689,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. iSAM Funds UK Ltd purchased a new position in U.S. Bancorp during the 3rd quarter valued at approximately $4,556,000. Wellington Management Group LLP raised its holdings in shares of U.S. Bancorp by 47.0% during the 3rd quarter. Wellington Management Group LLP now owns 277,254 shares of the financial services provider’s stock worth $13,400,000 after acquiring an additional 88,628 shares in the last quarter. von Borstel & Associates Inc. purchased a new stake in shares of U.S. Bancorp during the 3rd quarter worth approximately $286,000. RW Investment Management LLC boosted its position in shares of U.S. Bancorp by 0.5% during the 3rd quarter. RW Investment Management LLC now owns 50,346 shares of the financial services provider’s stock valued at $2,433,000 after acquiring an additional 236 shares during the last quarter. Finally, NorthRock Partners LLC boosted its position in shares of U.S. Bancorp by 46.9% during the 3rd quarter. NorthRock Partners LLC now owns 62,650 shares of the financial services provider’s stock valued at $3,028,000 after acquiring an additional 19,993 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analysts Set New Price Targets

USB has been the topic of several research reports. Truist Financial upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and boosted their price target for the stock from $61.00 to $66.00 in a research report on Thursday, February 26th. UBS Group reissued a “neutral” rating and issued a $60.00 price objective on shares of U.S. Bancorp in a research note on Wednesday, February 4th. Piper Sandler restated a “buy” rating on shares of U.S. Bancorp in a report on Thursday, February 26th. Barclays upped their target price on shares of U.S. Bancorp from $56.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Finally, Evercore lifted their price target on U.S. Bancorp from $60.00 to $65.00 and gave the stock an “in-line” rating in a research report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, U.S. Bancorp presently has an average rating of “Moderate Buy” and an average price target of $60.02.

Insider Transactions at U.S. Bancorp

In other news, insider Mark G. Runkel sold 32,195 shares of the business’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the completion of the sale, the insider directly owned 97,728 shares of the company’s stock, valued at approximately $5,927,203.20. The trade was a 24.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Stock Down 0.9%

NYSE USB opened at $51.00 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $61.19. The firm has a market capitalization of $79.17 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 0.92 and a beta of 1.04. The company has a fifty day moving average of $55.86 and a two-hundred day moving average of $51.58.

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

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.52 per share. The ex-dividend date is Tuesday, March 31st. This represents a $2.08 dividend on an annualized basis and a yield of 4.1%. U.S. Bancorp’s payout ratio is presently 45.02%.

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.