Nordea Investment Management AB Increases Stock Holdings in U.S. Bancorp $USB

Nordea Investment Management AB lifted its stake in U.S. Bancorp (NYSE:USB) by 192.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,994,993 shares of the financial services provider’s stock after purchasing an additional 1,311,746 shares during the quarter. Nordea Investment Management AB’s holdings in U.S. Bancorp were worth $90,752,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Mechanics Financial Corp boosted its holdings in shares of U.S. Bancorp by 5.3% in the 2nd quarter. Mechanics Financial Corp now owns 4,806 shares of the financial services provider’s stock worth $217,000 after purchasing an additional 240 shares during the period. Northern Financial Advisors Inc lifted its stake in shares of U.S. Bancorp by 5.0% during the 2nd quarter. Northern Financial Advisors Inc now owns 5,033 shares of the financial services provider’s stock worth $228,000 after acquiring an additional 241 shares during the last quarter. Lawson Kroeker Investment Management Inc. NE lifted its stake in shares of U.S. Bancorp by 0.5% during the 2nd quarter. Lawson Kroeker Investment Management Inc. NE now owns 46,109 shares of the financial services provider’s stock worth $2,086,000 after acquiring an additional 249 shares during the last quarter. Bestgate Wealth Advisors LLC lifted its stake in shares of U.S. Bancorp by 3.3% during the 1st quarter. Bestgate Wealth Advisors LLC now owns 8,031 shares of the financial services provider’s stock worth $339,000 after acquiring an additional 253 shares during the last quarter. Finally, Atlantic Family Wealth LLC lifted its stake in shares of U.S. Bancorp by 4.2% during the 1st quarter. Atlantic Family Wealth LLC now owns 6,312 shares of the financial services provider’s stock worth $266,000 after acquiring an additional 254 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on USB. Evercore ISI raised their price target on U.S. Bancorp from $49.00 to $54.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Truist Financial raised their price target on U.S. Bancorp from $51.00 to $52.00 and gave the stock a “hold” rating in a research note on Friday. Bank of America raised their price target on U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Company raised their price target on U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Wall Street Zen raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned 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 has an average rating of “Moderate Buy” and an average target price of $54.48.

U.S. Bancorp Trading Up 0.0%

Shares of NYSE USB opened at $45.66 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.10. The business has a fifty day simple moving average of $47.93 and a two-hundred day simple moving average of $44.82. The firm has a market cap of $71.06 billion, a PE ratio of 10.45, a price-to-earnings-growth ratio of 1.34 and a beta of 1.06. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98.

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

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend was Tuesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s dividend payout ratio is presently 47.60%.

Insider Activity at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the business’s stock in a transaction on Monday, July 21st. The stock was sold at an average price of $46.34, for a total value of $1,099,509.18. Following the completion of the transaction, the executive vice president directly owned 70,346 shares of the company’s stock, valued at approximately $3,259,833.64. The trade was a 25.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.23% of the company’s stock.

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.