Commerzbank Aktiengesellschaft FI Increases Position in U.S. Bancorp $USB

Commerzbank Aktiengesellschaft FI increased its holdings in U.S. Bancorp (NYSE:USB) by 5.0% in the first quarter, HoldingsChannel.com reports. The firm owned 196,405 shares of the financial services provider’s stock after buying an additional 9,356 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in U.S. Bancorp were worth $10,215,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Clayton Financial Group LLC purchased a new position in shares of U.S. Bancorp during the 4th quarter valued at approximately $25,000. Financial Life Planners purchased a new stake in U.S. Bancorp in the 1st quarter worth $27,000. Main Street Group LTD acquired a new position in U.S. Bancorp during the first quarter worth $28,000. JPL Wealth Management LLC purchased a new position in U.S. Bancorp during the third quarter valued at $28,000. Finally, Binnacle Investments Inc lifted its holdings in U.S. Bancorp by 77.8% during the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 273 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling

In related news, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp 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 transaction, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.21% of the company’s stock.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $63.15 on Tuesday. U.S. Bancorp has a 52 week low of $43.46 and a 52 week high of $64.84. The stock has a market capitalization of $97.95 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 1.07 and a beta of 0.96. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96. The firm has a 50-day simple moving average of $58.06 and a 200-day simple moving average of $56.15.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The company had revenue of $7.71 billion during the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter in the prior year, the firm earned $1.11 EPS. On average, equities analysts predict that U.S. Bancorp will post 5.18 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 41.52%.

Key U.S. Bancorp News

Here are the key news stories impacting U.S. Bancorp this week:

• Positive Sentiment: Evercore upgraded U.S. Bancorp (USB) from “in-line” to “outperform” and set a $72 price target, implying meaningful upside from current levels. Read More
• Positive Sentiment: JPMorgan upgraded U.S. Bancorp (USB) from “underweight” to “neutral” and raised its target to $67.50, citing improving prospects tied to growth in fee revenue. Read More
• Positive Sentiment: Several recent articles highlighted U.S. Bancorp (USB) as a strong dividend stock, reinforcing the bank’s appeal to income-focused investors. Article
• Neutral Sentiment: Additional coverage compared USB with other finance stocks this year, but did not indicate a major new fundamental catalyst. Article

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Oppenheimer boosted their target price on shares of U.S. Bancorp from $73.00 to $77.00 and gave the stock an “outperform” rating in a research note on Friday. BTIG Research set a $67.50 price target on shares of U.S. Bancorp in a research note on Monday. Jefferies Financial Group upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $60.00 to $75.00 in a report on Monday, July 6th. Barclays boosted their price objective on U.S. Bancorp from $67.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Truist Financial raised their target price on U.S. Bancorp from $66.00 to $69.00 and gave the company a “buy” rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $67.00.

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.