Prudential PLC Grows Position in U.S. Bancorp $USB

Prudential PLC lifted its holdings in shares of U.S. Bancorp (NYSE:USB) by 14.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 100,816 shares of the financial services provider’s stock after purchasing an additional 12,468 shares during the quarter. Prudential PLC’s holdings in U.S. Bancorp were worth $5,380,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new position in shares of U.S. Bancorp during the third quarter worth about $25,000. Clayton Financial Group LLC purchased a new stake in shares of U.S. Bancorp during the fourth quarter worth about $25,000. JPL Wealth Management LLC purchased a new stake in shares of U.S. Bancorp during the third quarter worth about $28,000. Binnacle Investments Inc increased its position in shares of U.S. Bancorp by 77.8% during the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 273 shares during the last quarter. Finally, Westside Investment Management Inc. increased its position in shares of U.S. Bancorp by 93.3% during the third quarter. Westside Investment Management Inc. now owns 663 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 320 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In other news, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the transaction, the executive vice president directly owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the transaction, the insider directly owned 207,251 shares of the company’s stock, valued at $11,813,307. This trade represents a 16.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. DA Davidson reaffirmed a “buy” rating and set a $65.00 target price on shares of U.S. Bancorp in a research report on Friday, April 17th. Royal Bank Of Canada lifted their target price on U.S. Bancorp from $59.00 to $61.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. Morgan Stanley set a $64.00 target price on U.S. Bancorp in a research report on Friday, April 17th. Oppenheimer lifted their target price on U.S. Bancorp from $73.00 to $74.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Finally, Truist Financial lowered their price objective on U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating for the company in a report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, U.S. Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $61.20.

U.S. Bancorp Stock Up 0.4%

NYSE:USB opened at $55.70 on Friday. The firm has a market capitalization of $86.39 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 1.00 and a beta of 0.97. The stock has a 50 day moving average of $54.71 and a 200-day moving average of $54.16. U.S. Bancorp has a 52 week low of $42.55 and a 52 week high of $61.19. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, beating the consensus estimate of $1.14 by $0.04. The company had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The business’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.03 earnings per share. Analysts predict that U.S. Bancorp will post 5.09 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $2.08 annualized dividend and a dividend yield of 3.7%. U.S. Bancorp’s dividend payout ratio is 43.61%.

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.