Plato Investment Management Ltd Makes New Investment in U.S. Bancorp $USB

Plato Investment Management Ltd acquired a new stake in shares of U.S. Bancorp (NYSE:USB) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 53,421 shares of the financial services provider’s stock, valued at approximately $3,208,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in shares of U.S. Bancorp in the 4th quarter worth $1,887,497,000. Auto Owners Insurance Co increased its stake in U.S. Bancorp by 5,236.0% during the 4th quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock valued at $1,779,556,000 after purchasing an additional 32,725,000 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in U.S. Bancorp during the second quarter worth $536,457,000. Capital Research Global Investors acquired a new position in U.S. Bancorp during the fourth quarter worth $296,377,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of U.S. Bancorp by 20.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 24,919,079 shares of the financial services provider’s stock valued at $1,329,683,000 after buying an additional 4,153,080 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Insiders Place Their Bets

In other news, insider Stephen L. Philipson sold 36,906 shares of the stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the completion of the transaction, the insider directly owned 74,969 shares of the company’s stock, valued at $4,729,044.52. This represents a 32.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on USB. Oppenheimer lifted their price objective on shares of U.S. Bancorp from $73.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of U.S. Bancorp in a research report on Friday, July 31st. DA Davidson lifted their price target on U.S. Bancorp from $72.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, July 17th. Wall Street Zen raised U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Monday, July 6th. Finally, Truist Financial increased their price objective on U.S. Bancorp from $66.00 to $69.00 and gave the stock a “buy” rating in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $67.06.

U.S. Bancorp Stock Performance

USB stock opened at $65.39 on Monday. 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 market cap of $101.87 billion, a PE ratio of 13.05, a P/E/G ratio of 1.07 and a beta of 0.96. The business has a 50 day moving average of $61.76 and a 200-day moving average of $57.39. U.S. Bancorp has a 12-month low of $45.02 and a 12-month high of $65.61.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.07. The business had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.58 billion. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.During the same quarter in the previous year, the firm earned $1.11 earnings per share. As a group, sell-side analysts expect that U.S. Bancorp will post 5.22 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.08 annualized dividend and a yield of 3.2%. U.S. Bancorp’s payout ratio is currently 41.52%.

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.