9,236 Shares in U.S. Bancorp $USB Purchased by NBH Bank

NBH Bank bought a new position in shares of U.S. Bancorp (NYSE:USB) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 9,236 shares of the financial services provider’s stock, valued at approximately $558,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Archer Investment Corp purchased a new stake in shares of U.S. Bancorp during the 2nd quarter valued at approximately $29,000. Parvin Asset Management LLC acquired a new position in U.S. Bancorp in the second quarter valued at approximately $30,000. Financial Life Planners purchased a new position in U.S. Bancorp in the first quarter worth approximately $27,000. Main Street Group LTD purchased a new position in U.S. Bancorp in the first quarter worth approximately $28,000. Finally, Rossby Financial LCC increased its stake in U.S. Bancorp by 57.8% during the fourth quarter. Rossby Financial LCC now owns 579 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 212 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $63.36 on Friday. The stock has a market capitalization of $98.72 billion, a price-to-earnings ratio of 12.65, a price-to-earnings-growth ratio of 1.13 and a beta of 0.95. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.82. The business has a 50-day moving average of $63.07 and a 200 day moving average of $57.87. U.S. Bancorp has a 12 month low of $45.02 and a 12 month high of $66.07.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.07. The company had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.58 billion. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. During the same period in the prior year, the firm earned $1.11 earnings per share. As a group, sell-side analysts forecast that U.S. Bancorp will post 5.22 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio is presently 41.52%.

Insider Buying and Selling

In other U.S. Bancorp news, CEO Gunjan Kedia sold 27,267 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the sale, the chief executive officer directly owned 426,262 shares in the company, valued at $26,585,960.94. This represents a 6.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen L. Philipson sold 36,906 shares of the firm’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the completion of the transaction, the insider directly owned 74,969 shares of the company’s stock, valued at $4,729,044.52. This represents a 32.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

USB has been the topic of a number of research analyst reports. Evercore upgraded U.S. Bancorp from an “in-line” rating to an “outperform” rating and set a $72.00 target price on the stock in a research report on Monday, July 20th. Jefferies Financial Group raised U.S. Bancorp from a “hold” rating to a “buy” rating and raised their price objective for the stock from $60.00 to $75.00 in a research report on Monday, July 6th. Truist Financial boosted their price objective on shares of U.S. Bancorp from $66.00 to $69.00 and gave the company a “buy” rating in a report on Friday, July 17th. DA Davidson upped their target price on shares of U.S. Bancorp from $72.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, July 17th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $68.00 target price on shares of U.S. Bancorp in a research note on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $67.06.

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.