LSV Asset Management Reduces Stock Position in U.S. Bancorp $USB

LSV Asset Management lessened its holdings in U.S. Bancorp (NYSE:USB) by 2.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 408,000 shares of the financial services provider’s stock after selling 9,800 shares during the quarter. LSV Asset Management’s holdings in U.S. Bancorp were worth $19,719,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in U.S. Bancorp by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 143,269,275 shares of the financial services provider’s stock valued at $6,482,935,000 after buying an additional 2,038,996 shares in the last quarter. Geode Capital Management LLC increased its position in shares of U.S. Bancorp by 1.3% during the second quarter. Geode Capital Management LLC now owns 36,632,410 shares of the financial services provider’s stock worth $1,650,305,000 after acquiring an additional 456,890 shares during the period. Norges Bank bought a new stake in shares of U.S. Bancorp during the second quarter valued at approximately $971,285,000. Davis Selected Advisers boosted its holdings in shares of U.S. Bancorp by 29.8% in the second quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock valued at $874,757,000 after purchasing an additional 4,442,623 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC grew its stake in U.S. Bancorp by 3.7% in the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 16,569,422 shares of the financial services provider’s stock worth $749,766,000 after purchasing an additional 585,968 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on USB shares. Oppenheimer upped their target price on U.S. Bancorp from $75.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. Royal Bank Of Canada raised their target price on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. UBS Group restated a “neutral” rating and issued a $60.00 price target on shares of U.S. Bancorp in a report on Wednesday, February 4th. TD Cowen increased their price objective on shares of U.S. Bancorp from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. Finally, DA Davidson boosted their price objective on shares of U.S. Bancorp from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $59.79.

U.S. Bancorp Trading Down 0.3%

NYSE:USB opened at $57.66 on Friday. The stock has a market capitalization of $89.63 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 1.03 and a beta of 1.06. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $61.19. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The firm has a 50 day moving average of $55.43 and a 200 day moving average of $50.34.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. The business had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.31 billion. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.07 earnings per share. As a group, sell-side analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a $0.52 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $2.08 dividend on an annualized basis and a yield of 3.6%. U.S. Bancorp’s dividend payout ratio (DPR) is 45.02%.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Mark G. Runkel sold 32,195 shares of the firm’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $60.65, for a total value of $1,952,626.75. Following the completion of the transaction, the insider owned 97,728 shares of the company’s stock, valued at approximately $5,927,203.20. This trade represents a 24.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.