By otakuyassine3@gmail.com 
Brand Asset Management Group Inc. purchased a new stake in U.S. Bancorp (NYSE:USB – Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,209 shares of the financial services provider’s stock, valued at approximately $201,000.
A number of other hedge funds have also bought and sold shares of the business. FMR LLC grew its position 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 worth $2,922,784,000 after purchasing an additional 15,746,852 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of U.S. Bancorp by 153.0% in the third quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock valued at $374,573,000 after buying an additional 4,807,662 shares during the period. Los Angeles Capital Management LLC grew its position in U.S. Bancorp by 723.7% during the third quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider’s stock worth $146,864,000 after buying an additional 2,821,642 shares in the last quarter. Marshall Wace LLP increased its stake in U.S. Bancorp by 1,438.4% during the 2nd quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider’s stock worth $89,853,000 after acquiring an additional 2,116,175 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in U.S. Bancorp by 109.7% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,531,400 shares of the financial services provider’s stock valued at $161,491,000 after acquiring an additional 1,847,000 shares in the last quarter. 77.60% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on the company. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price on the stock in a report on Monday, January 13th. Evercore ISI increased their price objective on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Morgan Stanley dropped their target price on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a research report on Friday. Truist Financial began coverage on shares of U.S. Bancorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $54.00 price target on the stock. Finally, Wells Fargo & Company boosted their price objective on shares of U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.21.
U.S. Bancorp Stock Performance
U.S. Bancorp stock opened at $48.40 on Friday. The business has a 50 day moving average of $50.22 and a 200-day moving average of $46.72. The company has a market capitalization of $75.50 billion, a P/E ratio of 14.80, a P/E/G ratio of 2.47 and a beta of 1.05. U.S. Bancorp has a 1 year low of $37.81 and a 1 year high of $53.98. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81.
U.S. Bancorp (NYSE:USB – Get Free Report) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.01. The firm had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The company’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.99 EPS. On average, equities research analysts predict that U.S. Bancorp will post 3.91 earnings per share for the current year.
U.S. Bancorp Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.13%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s payout ratio is presently 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.
See Also
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