Federated Hermes Inc. Increases Position in U.S. Bancorp (NYSE:USB)

Federated Hermes Inc. increased its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 0.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 9,458,048 shares of the financial services provider's stock after buying an additional 58,973 shares during the period. U.S. Bancorp comprises approximately 1.0% of Federated Hermes Inc.'s holdings, making the stock its 10th biggest position. Federated Hermes Inc. owned 0.61% of U.S. Bancorp worth $452,378,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of USB. Vanguard Group Inc. increased its holdings in shares of U.S. Bancorp by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider's stock worth $6,640,569,000 after acquiring an additional 1,079,056 shares during the period. Charles Schwab Investment Management Inc. grew its position in U.S. Bancorp by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider's stock worth $2,381,443,000 after purchasing an additional 2,460,845 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of U.S. Bancorp by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 33,937,360 shares of the financial services provider's stock valued at $1,618,948,000 after purchasing an additional 850,763 shares during the period. Amundi raised its holdings in shares of U.S. Bancorp by 7.4% during the fourth quarter. Amundi now owns 19,485,615 shares of the financial services provider's stock valued at $945,268,000 after buying an additional 1,341,407 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of U.S. Bancorp during the fourth quarter valued at approximately $777,524,000. Institutional investors own 77.60% of the company's stock.

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Insiders Place Their Bets

In other U.S. Bancorp news, insider Jodi L. Richard sold 30,000 shares of the firm's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the transaction, the insider now directly owns 99,790 shares in the company, valued at $4,749,006.10. This trade represents a 23.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Terrance R. Dolan sold 66,317 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $46.96, for a total value of $3,114,246.32. Following the completion of the sale, the insider now directly owns 209,482 shares of the company's stock, valued at $9,837,274.72. This represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock valued at $10,385,665 over the last ninety days. Corporate insiders own 0.23% of the company's stock.

U.S. Bancorp Stock Up 0.2 %

Shares of USB stock traded up $0.09 during trading on Friday, hitting $37.34. 8,044,088 shares of the company were exchanged, compared to its average volume of 8,933,482. The firm has a market capitalization of $58.18 billion, a price-to-earnings ratio of 9.83, a P/E/G ratio of 1.73 and a beta of 0.91. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The business's 50-day simple moving average is $43.65 and its 200 day simple moving average is $47.07. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The firm had revenue of $7.01 billion during the quarter, compared to analysts' expectations of $7 billion. During the same quarter last year, the firm earned $0.99 earnings per share. The business's revenue for the quarter was up 3.7% on a year-over-year basis. As a group, analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date of this dividend is Monday, March 31st. U.S. Bancorp's dividend payout ratio (DPR) is presently 52.77%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Morgan Stanley lowered their target price on U.S. Bancorp from $55.00 to $51.00 and set an "overweight" rating on the stock in a research report on Monday. Wolfe Research raised U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 price target on the stock in a report on Thursday, April 3rd. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $43.50 price objective (down previously from $51.00) on shares of U.S. Bancorp in a report on Thursday, April 3rd. Truist Financial decreased their target price on shares of U.S. Bancorp from $54.00 to $51.00 and set a "hold" rating for the company in a research report on Friday, April 4th. Finally, Piper Sandler upgraded shares of U.S. Bancorp from a "neutral" rating to an "overweight" rating and set a $58.00 price target on the stock in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $52.52.

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.