Curbstone Financial Management Corp Buys 222 Shares of U.S. Bancorp $USB

Curbstone Financial Management Corp grew its stake in U.S. Bancorp (NYSE:USB) by 0.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,982 shares of the financial services provider’s stock after purchasing an additional 222 shares during the period. Curbstone Financial Management Corp’s holdings in U.S. Bancorp were worth $1,809,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in USB. Nuveen LLC bought a new stake in U.S. Bancorp during the first quarter worth about $138,183,000. Vanguard Group Inc. lifted its position in shares of U.S. Bancorp by 1.7% during the first quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider’s stock worth $5,962,742,000 after purchasing an additional 2,393,383 shares in the last quarter. American Century Companies Inc. lifted its position in shares of U.S. Bancorp by 17.4% during the first quarter. American Century Companies Inc. now owns 10,070,174 shares of the financial services provider’s stock worth $425,163,000 after purchasing an additional 1,493,318 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of U.S. Bancorp by 192.0% during the second quarter. Nordea Investment Management AB now owns 1,994,993 shares of the financial services provider’s stock worth $90,752,000 after purchasing an additional 1,311,746 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of U.S. Bancorp by 10.5% during the first quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider’s stock worth $464,953,000 after purchasing an additional 1,045,509 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Trading Up 0.0%

Shares of NYSE USB opened at $45.66 on Friday. The company’s 50 day simple moving average is $47.93 and its 200 day simple moving average is $44.81. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The firm has a market capitalization of $71.06 billion, a P/E ratio of 10.45, a P/E/G ratio of 1.33 and a beta of 1.06. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.11. The company had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.17 billion. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the business posted $1.03 earnings per share. On average, analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.6%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is 47.60%.

Analysts Set New Price Targets

USB has been the topic of a number of research reports. UBS Group upped their target price on shares of U.S. Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. The Goldman Sachs Group set a $52.00 target price on shares of U.S. Bancorp and gave the stock a “neutral” rating in a research report on Friday. Morgan Stanley reiterated a “positive” rating on shares of U.S. Bancorp in a research report on Friday. Oppenheimer cut their price objective on shares of U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating on the stock in a report on Tuesday, September 23rd. Finally, Truist Financial increased their price objective on shares of U.S. Bancorp from $51.00 to $52.00 and gave the company a “hold” rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $54.48.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction on Monday, July 21st. The shares were sold at an average price of $46.34, for a total value of $1,099,509.18. Following the sale, the executive vice president directly owned 70,346 shares in the company, valued at approximately $3,259,833.64. This trade represents a 25.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.23% of the company’s stock.

About U.S. Bancorp

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.