First Trust Direct Indexing L.P. Increases Stock Holdings in U.S. Bancorp (NYSE:USB)

First Trust Direct Indexing L.P. grew its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 32.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,088 shares of the financial services provider's stock after purchasing an additional 12,245 shares during the quarter. First Trust Direct Indexing L.P.'s holdings in U.S. Bancorp were worth $2,291,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of USB. Marshall Wace LLP lifted its position in U.S. Bancorp by 1,438.4% in the second quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider's stock valued at $89,853,000 after acquiring an additional 2,116,175 shares during the last quarter. National Bank of Canada FI boosted its position in shares of U.S. Bancorp by 313.8% in the 2nd quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider's stock valued at $105,903,000 after purchasing an additional 2,046,522 shares during the period. BNP Paribas Financial Markets grew its stake in U.S. Bancorp by 88.9% during the 1st quarter. BNP Paribas Financial Markets now owns 2,331,050 shares of the financial services provider's stock worth $104,198,000 after buying an additional 1,097,179 shares during the last quarter. Clearbridge Investments LLC grew its stake in U.S. Bancorp by 16.2% during the 1st quarter. Clearbridge Investments LLC now owns 6,941,466 shares of the financial services provider's stock worth $310,284,000 after buying an additional 967,143 shares during the last quarter. Finally, American Century Companies Inc. increased its position in U.S. Bancorp by 15.6% during the second quarter. American Century Companies Inc. now owns 6,846,497 shares of the financial services provider's stock worth $271,806,000 after buying an additional 925,073 shares during the period. Institutional investors and hedge funds own 77.60% of the company's stock.

Insider Transactions at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. The trade was a 0.00 % 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. Insiders own 0.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered shares of U.S. Bancorp from a "buy" rating to a "hold" rating and set a $51.00 target price on the stock. in a research report on Thursday, October 24th. Evercore ISI lifted their price objective on shares of U.S. Bancorp from $51.00 to $54.00 and gave the company an "in-line" rating in a research note on Wednesday. Morgan Stanley upgraded shares of U.S. Bancorp from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $54.00 to $57.00 in a research note on Monday, September 30th. Barclays boosted their price target on U.S. Bancorp from $52.00 to $57.00 and gave the company an "overweight" rating in a research report on Thursday, October 17th. Finally, The Goldman Sachs Group decreased their price objective on U.S. Bancorp from $48.00 to $46.00 and set a "neutral" rating for the company in a research report on Wednesday, September 11th. Thirteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, U.S. Bancorp has a consensus rating of "Hold" and a consensus price target of $50.87.

U.S. Bancorp Stock Performance

Shares of USB opened at $48.69 on Thursday. The company has a market capitalization of $75.98 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 2.85 and a beta of 1.03. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. U.S. Bancorp has a 1 year low of $30.88 and a 1 year high of $50.47. The company's 50 day simple moving average is $46.10 and its 200 day simple moving average is $42.97.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.04. The business had revenue of $6.86 billion for the quarter, compared to analysts' expectations of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The business's revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.05 earnings per share. On average, sell-side analysts predict that U.S. Bancorp will post 3.9 EPS for the current year.

U.S. Bancorp declared that its Board of Directors has authorized a stock repurchase program on Thursday, September 12th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.11%. This is an increase from U.S. Bancorp's previous quarterly dividend of $0.49. U.S. Bancorp's dividend payout ratio is currently 61.16%.

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.

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