Vanguard Group Inc. Has $6.05 Billion Stock Position in U.S. Bancorp (NYSE:USB)

Vanguard Group Inc. grew its position in U.S. Bancorp (NYSE:USB) by 0.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 135,371,282 shares of the financial services provider’s stock after purchasing an additional 502,776 shares during the quarter. Vanguard Group Inc. owned approximately 8.68% of U.S. Bancorp worth $6,051,096,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Focus Financial Network Inc. ADV bought a new stake in shares of U.S. Bancorp in the 4th quarter valued at $5,440,000. Spinnaker Trust bought a new stake in shares of U.S. Bancorp in the 4th quarter valued at $220,000. Morningstar Investment Management LLC boosted its stake in U.S. Bancorp by 760.8% during the fourth quarter. Morningstar Investment Management LLC now owns 83,833 shares of the financial services provider’s stock worth $3,628,000 after acquiring an additional 74,094 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in U.S. Bancorp during the fourth quarter worth $4,073,000. Finally, abrdn plc boosted its stake in U.S. Bancorp by 71.9% during the fourth quarter. abrdn plc now owns 652,401 shares of the financial services provider’s stock worth $28,236,000 after acquiring an additional 272,976 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Aleem Gillani purchased 10,000 shares of U.S. Bancorp stock in a transaction on Thursday, July 18th. The shares were bought at an average cost of $44.99 per share, for a total transaction of $449,900.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at approximately $449,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Up 0.8 %

U.S. Bancorp stock traded up $0.35 during mid-day trading on Friday, reaching $44.76. The stock had a trading volume of 11,842,312 shares, compared to its average volume of 9,442,374. The company has a market capitalization of $69.85 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 4.34 and a beta of 1.04. The company has a 50-day moving average price of $40.39 and a two-hundred day moving average price of $41.46. U.S. Bancorp has a one year low of $30.47 and a one year high of $45.85. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.04. The company had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the company posted $1.12 earnings per share. On average, analysts expect that U.S. Bancorp will post 3.89 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend was Friday, June 28th. U.S. Bancorp’s dividend payout ratio is presently 64.90%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on USB. Morgan Stanley reissued an “equal weight” rating and set a $45.00 target price on shares of U.S. Bancorp in a research note on Friday, June 21st. Evercore ISI increased their target price on shares of U.S. Bancorp from $45.00 to $48.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. UBS Group raised their price objective on shares of U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday. DA Davidson raised their price objective on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $45.00 target price (down previously from $52.00) on shares of U.S. Bancorp in a research report on Thursday, April 18th. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Hold” and a consensus target price of $47.72.

U.S. Bancorp Company 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.