21,268 Shares in U.S. Bancorp (NYSE:USB) Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC bought a new stake in shares of U.S. Bancorp (NYSE:USB - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 21,268 shares of the financial services provider's stock, valued at approximately $1,018,000.

A number of other large investors also recently added to or reduced their stakes in the business. State Street Corp boosted its position in shares of U.S. Bancorp by 1.2% during the third quarter. State Street Corp now owns 67,282,970 shares of the financial services provider's stock worth $3,110,115,000 after acquiring an additional 819,805 shares during the last quarter. FMR LLC boosted its holdings in shares of U.S. Bancorp by 32.7% during the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider's stock valued at $2,922,784,000 after purchasing an additional 15,746,852 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of U.S. Bancorp by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider's stock valued at $2,164,350,000 after purchasing an additional 1,796,336 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of U.S. Bancorp by 1.8% in the third quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider's stock worth $1,507,616,000 after purchasing an additional 599,852 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in shares of U.S. Bancorp by 2.7% in the second quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider's stock worth $491,364,000 after buying an additional 325,374 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on USB shares. Citigroup raised U.S. Bancorp from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $49.00 to $65.00 in a report on Monday, November 25th. Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a research report on Thursday, October 17th. Stephens boosted their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. Piper Sandler increased their price target on shares of U.S. Bancorp from $52.00 to $58.00 and gave the company a "neutral" rating in a report on Tuesday, December 3rd. Finally, Wells Fargo & Company upped their price objective on U.S. Bancorp from $60.00 to $62.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $54.07.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the company's stock in a transaction on Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the sale, the insider now directly owns 129,790 shares of the company's stock, valued at approximately $6,363,603.70. This represents a 16.15 % 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 this link. 0.23% of the stock is owned by insiders.

U.S. Bancorp Stock Down 2.2 %

Shares of NYSE USB traded down $1.07 during midday trading on Friday, reaching $47.45. 8,528,508 shares of the company's stock traded hands, compared to its average volume of 6,716,318. The company has a market cap of $74.02 billion, a price-to-earnings ratio of 14.51, a P/E/G ratio of 3.01 and a beta of 1.05. The stock's 50 day simple moving average is $50.21 and its 200-day simple moving average is $46.41. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The firm had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. During the same period in the previous year, the company posted $1.05 EPS. The business's revenue for the quarter was down 2.4% compared to the same quarter last year. On average, analysts predict that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend is Tuesday, December 31st. U.S. Bancorp's dividend payout ratio (DPR) is presently 61.16%.

U.S. Bancorp announced that its board has approved a stock buyback plan on Thursday, September 12th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.