InvesTrust Invests $6.52 Million in U.S. Bancorp (NYSE:USB)

InvesTrust acquired a new stake in shares of U.S. Bancorp (NYSE:USB) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 135,838 shares of the financial services provider’s stock, valued at approximately $6,516,000. U.S. Bancorp accounts for 1.8% of InvesTrust’s portfolio, making the stock its 23rd biggest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lantz Financial LLC lifted its holdings in shares of U.S. Bancorp by 4.7% in the second quarter. Lantz Financial LLC now owns 48,116 shares of the financial services provider’s stock valued at $1,910,000 after buying an additional 2,179 shares during the period. Private Advisor Group LLC lifted its holdings in U.S. Bancorp by 17.8% in the 2nd quarter. Private Advisor Group LLC now owns 110,806 shares of the financial services provider’s stock valued at $4,399,000 after acquiring an additional 16,745 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of U.S. Bancorp by 3,452.9% during the 2nd quarter. Acadian Asset Management LLC now owns 153,059 shares of the financial services provider’s stock valued at $6,074,000 after purchasing an additional 148,751 shares in the last quarter. Caprock Group LLC grew its stake in shares of U.S. Bancorp by 69.9% in the 2nd quarter. Caprock Group LLC now owns 44,760 shares of the financial services provider’s stock worth $1,799,000 after purchasing an additional 18,417 shares during the last quarter. Finally, PFG Investments LLC raised its holdings in shares of U.S. Bancorp by 3.7% in the 2nd quarter. PFG Investments LLC now owns 9,373 shares of the financial services provider’s stock worth $372,000 after purchasing an additional 331 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the transaction, the insider now directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Truist Financial initiated coverage on shares of U.S. Bancorp in a research report on Tuesday. They issued a “hold” rating and a $54.00 price target on the stock. Barclays boosted their target price on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday. The Goldman Sachs Group decreased their price target on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Royal Bank of Canada set a $53.00 price objective on U.S. Bancorp in a report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a report on Thursday, October 24th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $54.07.

U.S. Bancorp Stock Down 0.2 %

Shares of USB traded down $0.11 during midday trading on Wednesday, reaching $48.59. 2,478,958 shares of the stock were exchanged, compared to its average volume of 5,653,400. The company has a market cap of $75.80 billion, a price-to-earnings ratio of 14.86, a P/E/G ratio of 3.01 and a beta of 1.05. The firm has a 50 day simple moving average of $50.21 and a 200-day simple moving average of $46.38. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The firm had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same period in the previous year, the company earned $1.05 earnings per share. The company’s revenue was down 2.4% compared to the same quarter last year. Research analysts forecast that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp announced that its Board of Directors has initiated a stock buyback plan on Thursday, September 12th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.12%. The ex-dividend date is Tuesday, December 31st. U.S. Bancorp’s payout ratio is 61.16%.

U.S. Bancorp Profile

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.