PGGM Investments grew its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 1,523.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 104,344 shares of the financial services provider's stock after acquiring an additional 97,916 shares during the quarter. PGGM Investments' holdings in U.S. Bancorp were worth $4,991,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of USB. State Street Corp raised its stake 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 valued at $3,110,115,000 after purchasing an additional 819,805 shares in the last quarter. FMR LLC raised its position in U.S. Bancorp by 32.7% in the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider's stock worth $2,922,784,000 after acquiring an additional 15,746,852 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in U.S. Bancorp by 5.2% in the fourth 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 acquiring an additional 2,460,845 shares in the last quarter. Geode Capital Management LLC raised its position in 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 acquiring an additional 599,852 shares in the last quarter. Finally, Amundi raised its holdings in U.S. Bancorp by 7.4% during the 4th quarter. Amundi now owns 19,485,615 shares of the financial services provider's stock worth $945,268,000 after buying an additional 1,341,407 shares during the period. Institutional investors and hedge funds own 77.60% of the company's stock.
U.S. Bancorp Trading Up 0.1 %
NYSE:USB traded up $0.05 during mid-day trading on Tuesday, hitting $42.23. The company had a trading volume of 13,041,712 shares, compared to its average volume of 9,813,943. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The business's fifty day moving average is $46.76 and its two-hundred day moving average is $47.76. 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 firm has a market cap of $65.80 billion, a P/E ratio of 11.14, a P/E/G ratio of 1.73 and a beta of 1.02.
U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping analysts' consensus estimates of $1.06 by $0.01. The company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. U.S. Bancorp's revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.99 earnings per share. As a group, research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.
U.S. Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.74%. U.S. Bancorp's payout ratio is presently 52.77%.
Insider Buying and Selling at U.S. Bancorp
In other U.S. Bancorp news, insider Jodi L. Richard sold 30,000 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $47.59, for a total value of $1,427,700.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Terrance R. Dolan sold 66,317 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value of $3,114,246.32. Following the completion of the transaction, the insider now owns 209,482 shares of the company's stock, valued at approximately $9,837,274.72. This represents a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 219,812 shares of company stock worth $10,385,665 over the last ninety days. 0.23% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the company. Truist Financial assumed coverage on U.S. Bancorp in a research note on Tuesday, January 7th. They set a "hold" rating and a $54.00 target price on the stock. Citigroup upgraded U.S. Bancorp from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $49.00 to $65.00 in a report on Monday, November 25th. Raymond James upgraded U.S. Bancorp from a "market perform" rating to an "outperform" rating and set a $57.00 target price for the company in a report on Thursday, December 19th. Barclays boosted their target price on U.S. Bancorp from $57.00 to $61.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Finally, Piper Sandler upgraded U.S. Bancorp from a "neutral" rating to an "overweight" rating and set a $58.00 target price for the company in a report on Monday, January 13th. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $53.98.
Check Out Our Latest Stock Analysis on U.S. Bancorp
About U.S. Bancorp
(
Free Report)
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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