Royal Fund Management LLC Boosts Holdings in U.S. Bancorp $USB

Royal Fund Management LLC lifted its stake in shares of U.S. Bancorp (NYSE:USB) by 44.1% in the fourth quarter, Holdings Channel reports. The firm owned 86,399 shares of the financial services provider’s stock after buying an additional 26,456 shares during the period. Royal Fund Management LLC’s holdings in U.S. Bancorp were worth $4,612,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Chemung Canal Trust Co. lifted its position in shares of U.S. Bancorp by 205.5% in the third quarter. Chemung Canal Trust Co. now owns 68,327 shares of the financial services provider’s stock valued at $3,302,000 after acquiring an additional 45,963 shares in the last quarter. Citigroup Inc. increased its position in shares of U.S. Bancorp by 2.4% during the third quarter. Citigroup Inc. now owns 1,749,812 shares of the financial services provider’s stock worth $84,568,000 after purchasing an additional 41,803 shares in the last quarter. Jones Financial Companies Lllp raised its stake in U.S. Bancorp by 15.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 358,972 shares of the financial services provider’s stock valued at $17,738,000 after purchasing an additional 47,537 shares during the last quarter. Synergy Asset Management LLC raised its stake in U.S. Bancorp by 100.0% in the 3rd quarter. Synergy Asset Management LLC now owns 119,962 shares of the financial services provider’s stock valued at $5,428,000 after purchasing an additional 59,981 shares during the last quarter. Finally, SteelPeak Wealth LLC raised its stake in U.S. Bancorp by 757.8% in the 3rd quarter. SteelPeak Wealth LLC now owns 176,500 shares of the financial services provider’s stock valued at $8,622,000 after purchasing an additional 155,925 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 0.0%

USB stock opened at $50.85 on Tuesday. U.S. Bancorp has a one year low of $35.18 and a one year high of $61.19. The firm has a market cap of $78.92 billion, a PE ratio of 11.01, a PEG ratio of 0.93 and a beta of 1.04. The firm’s 50 day moving average price is $55.12 and its 200-day moving average price is $51.82. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

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

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.52 per share. The ex-dividend date is Tuesday, March 31st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.1%. U.S. Bancorp’s dividend payout ratio is currently 45.02%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on USB shares. Evercore lifted their target price on shares of U.S. Bancorp from $60.00 to $65.00 and gave the stock an “in-line” rating in a research note on Thursday, February 5th. Truist Financial upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and increased their target price for the company from $61.00 to $66.00 in a research report on Thursday, February 26th. Piper Sandler reissued a “buy” rating on shares of U.S. Bancorp in a research note on Thursday, February 26th. UBS Group restated a “neutral” rating and set a $60.00 price target on shares of U.S. Bancorp in a research report on Wednesday, February 4th. Finally, 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 report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average target price of $59.52.

Insider Activity

In related news, insider Mark G. Runkel sold 32,195 shares of the firm’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the completion of the sale, the insider directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.21% of the company’s stock.

U.S. Bancorp 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.