Huntington National Bank Has $42.26 Million Holdings in U.S. Bancorp $USB

Huntington National Bank boosted its holdings in shares of U.S. Bancorp (NYSE:USB) by 6.3% in the second quarter, HoldingsChannel reports. The fund owned 933,850 shares of the financial services provider’s stock after buying an additional 55,466 shares during the quarter. Huntington National Bank’s holdings in U.S. Bancorp were worth $42,257,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Obermeyer Wealth Partners acquired a new stake in U.S. Bancorp during the 2nd quarter worth about $5,482,000. Bridgewater Advisors Inc. boosted its position in U.S. Bancorp by 11.7% during the 2nd quarter. Bridgewater Advisors Inc. now owns 20,428 shares of the financial services provider’s stock worth $942,000 after acquiring an additional 2,140 shares during the period. Machina Capital S.A.S. boosted its position in U.S. Bancorp by 7.7% during the 2nd quarter. Machina Capital S.A.S. now owns 108,827 shares of the financial services provider’s stock worth $4,924,000 after acquiring an additional 7,777 shares during the period. South Dakota Investment Council boosted its position in U.S. Bancorp by 7.1% during the 2nd quarter. South Dakota Investment Council now owns 702,553 shares of the financial services provider’s stock worth $31,791,000 after acquiring an additional 46,344 shares during the period. Finally, State of Michigan Retirement System boosted its position in U.S. Bancorp by 1.0% during the 2nd quarter. State of Michigan Retirement System now owns 449,682 shares of the financial services provider’s stock worth $20,348,000 after acquiring an additional 4,400 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $46.66 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10. The business’s 50 day moving average is $48.11 and its two-hundred day moving average is $45.65. The company has a market cap of $72.61 billion, a P/E ratio of 10.68, a P/E/G ratio of 1.25 and a beta of 1.06. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 EPS 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 the consensus estimate of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.03 EPS. On average, equities analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.52 per share. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Tuesday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 47.60%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on USB shares. The Goldman Sachs Group set a $52.00 price objective on U.S. Bancorp and gave the stock a “neutral” rating in a research report on Friday, October 17th. Evercore ISI lifted their price target on U.S. Bancorp from $49.00 to $54.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Wall Street Zen upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Truist Financial lifted their price target on U.S. Bancorp from $51.00 to $52.00 and gave the company a “hold” rating in a report on Friday, October 17th. Finally, Citigroup lifted their price target on U.S. Bancorp from $65.00 to $70.00 and gave the company a “buy” rating in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.55.

Insider Buying and Selling

In other news, Chairman Andrew Cecere sold 140,445 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the sale, the chairman directly owned 1,360,414 shares in the company, valued at approximately $63,041,584.76. The trade was a 9.36% 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. Also, EVP James L. Chosy sold 26,909 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $46.86, for a total value of $1,260,955.74. Following the sale, the executive vice president owned 226,375 shares in the company, valued at approximately $10,607,932.50. This represents a 10.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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.