U.S. Bancorp $USB Stake Lifted by Solitude Financial Services

Solitude Financial Services lifted its stake in shares of U.S. Bancorp (NYSE:USB) by 286.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,158 shares of the financial services provider’s stock after acquiring an additional 15,677 shares during the quarter. U.S. Bancorp comprises about 0.4% of Solitude Financial Services’ investment portfolio, making the stock its 23rd biggest holding. Solitude Financial Services’ holdings in U.S. Bancorp were worth $1,193,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Citigroup Inc. boosted its position in shares of U.S. Bancorp by 2.4% during the 3rd quarter. Citigroup Inc. now owns 1,749,812 shares of the financial services provider’s stock valued at $84,568,000 after purchasing an additional 41,803 shares in the last quarter. Danske Bank A S bought a new stake in shares of U.S. Bancorp in the 3rd quarter worth approximately $37,162,000. Nordea Investment Management AB lifted its stake in U.S. Bancorp by 15.3% during the fourth quarter. Nordea Investment Management AB now owns 2,690,174 shares of the financial services provider’s stock valued at $144,462,000 after purchasing an additional 357,300 shares during the last quarter. Goodman Advisory Group LLC lifted its stake in U.S. Bancorp by 30.5% during the third quarter. Goodman Advisory Group LLC now owns 194,035 shares of the financial services provider’s stock valued at $9,378,000 after purchasing an additional 45,365 shares during the last quarter. Finally, Lighthouse Investment Partners LLC grew its position in U.S. Bancorp by 92.9% in the third quarter. Lighthouse Investment Partners LLC now owns 252,335 shares of the financial services provider’s stock worth $12,195,000 after buying an additional 121,529 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jodi L. Richard sold 40,000 shares of U.S. Bancorp stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the transaction, the insider owned 207,251 shares in the company, valued at approximately $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the transaction, the executive vice president directly owned 51,292 shares in the company, valued at $2,847,731.84. The trade was a 40.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. cut their price objective on U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating for the company in a research report on Thursday, April 30th. Truist Financial cut their target price on U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, April 17th. Barclays upped their target price on U.S. Bancorp from $65.00 to $67.00 and gave the company an “overweight” rating in a report on Friday, April 17th. Wall Street Zen upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, DA Davidson reissued a “buy” rating and issued a $65.00 price target on shares of U.S. Bancorp in a research note on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.29.

U.S. Bancorp Stock Down 0.1%

Shares of NYSE:USB opened at $58.07 on Friday. The firm has a 50 day simple moving average of $55.69 and a 200 day simple moving average of $54.86. U.S. Bancorp has a 52 week low of $42.93 and a 52 week high of $61.19. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $90.07 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 1.01 and a beta of 0.97.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The firm had revenue of $7.32 billion for the quarter, compared to analysts’ expectations of $7.27 billion. During the same period in the previous year, the company posted $1.03 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, research analysts expect that U.S. Bancorp will post 5.08 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio (DPR) is 43.61%.

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.