First Trust Direct Indexing L.P. Purchases 7,272 Shares of U.S. Bancorp (NYSE:USB)

First Trust Direct Indexing L.P. increased its stake in shares of U.S. Bancorp (NYSE:USB) by 32.2% in the 4th quarter, Holdings Channel reports. The firm owned 29,876 shares of the financial services provider’s stock after buying an additional 7,272 shares during the period. First Trust Direct Indexing L.P.’s holdings in U.S. Bancorp were worth $1,293,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of USB. Mufg Bank LTD. raised its position in U.S. Bancorp by 54.1% during the third quarter. Mufg Bank LTD. now owns 68,374,155 shares of the financial services provider’s stock valued at $2,260,450,000 after purchasing an additional 24,000,000 shares during the period. Aristotle Capital Management LLC lifted its stake in U.S. Bancorp by 266.6% in the third quarter. Aristotle Capital Management LLC now owns 23,467,699 shares of the financial services provider’s stock worth $775,842,000 after acquiring an additional 17,066,479 shares during the period. Vanguard Group Inc. raised its stake in U.S. Bancorp by 5.0% in the third quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider’s stock worth $4,513,127,000 after buying an additional 6,479,642 shares in the last quarter. Barclays PLC raised its position in shares of U.S. Bancorp by 120.4% in the 3rd quarter. Barclays PLC now owns 8,810,834 shares of the financial services provider’s stock worth $291,285,000 after acquiring an additional 4,813,976 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of U.S. Bancorp during the third quarter valued at about $65,684,000. Institutional investors own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on USB. Royal Bank of Canada boosted their price objective on U.S. Bancorp from $43.00 to $47.00 and gave the company an “outperform” rating in a report on Thursday, January 18th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $45.00 price target (down from $52.00) on shares of U.S. Bancorp in a research note on Thursday, April 18th. HSBC raised U.S. Bancorp from a “hold” rating to a “buy” rating and increased their target price for the stock from $47.00 to $53.00 in a research note on Thursday, March 28th. Morgan Stanley upped their target price on U.S. Bancorp from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. Finally, Compass Point raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their target price for the stock from $46.00 to $49.00 in a research report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $46.02.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $41.47, for a total value of $895,005.54. Following the sale, the executive vice president now owns 164,880 shares in the company, valued at $6,837,573.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Stock Performance

Shares of USB stock traded up $0.56 during trading hours on Friday, hitting $41.53. 816,422 shares of the company were exchanged, compared to its average volume of 8,513,881. The firm has a fifty day simple moving average of $42.32 and a 200 day simple moving average of $40.35. U.S. Bancorp has a 52-week low of $27.27 and a 52-week high of $45.85. The stock has a market capitalization of $64.71 billion, a price-to-earnings ratio of 13.57, a P/E/G ratio of 2.13 and a beta of 1.05. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The business had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.71 billion. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The business’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.16 EPS. Research analysts predict that U.S. Bancorp will post 3.85 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 4.72%. The ex-dividend date was Wednesday, March 27th. U.S. Bancorp’s payout ratio is currently 64.90%.

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.