Federated Hermes Inc. Acquires 58,973 Shares of U.S. Bancorp (NYSE:USB)

Federated Hermes Inc. raised its holdings in shares of U.S. Bancorp (NYSE:USB) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,458,048 shares of the financial services provider’s stock after purchasing an additional 58,973 shares during the quarter. U.S. Bancorp accounts for 1.0% of Federated Hermes Inc.’s portfolio, making the stock its 10th largest position. Federated Hermes Inc. owned 0.61% of U.S. Bancorp worth $452,378,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. International Assets Investment Management LLC acquired a new stake in shares of U.S. Bancorp during the fourth quarter worth approximately $1,018,000. Vanguard Group Inc. grew its holdings in U.S. Bancorp by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider’s stock worth $6,640,569,000 after acquiring an additional 1,079,056 shares in the last quarter. M&T Bank Corp increased its position in shares of U.S. Bancorp by 2.8% in the 3rd quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock worth $38,704,000 after purchasing an additional 22,803 shares during the last quarter. D.A. Davidson & CO. raised its stake in shares of U.S. Bancorp by 11.3% in the 4th quarter. D.A. Davidson & CO. now owns 380,767 shares of the financial services provider’s stock valued at $18,212,000 after purchasing an additional 38,802 shares in the last quarter. Finally, Keystone Financial Planning Inc. lifted its position in shares of U.S. Bancorp by 29.5% during the fourth quarter. Keystone Financial Planning Inc. now owns 72,614 shares of the financial services provider’s stock worth $3,473,000 after purchasing an additional 16,552 shares during the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Performance

Shares of USB opened at $36.78 on Friday. U.S. Bancorp has a 52-week low of $35.74 and a 52-week high of $53.98. The firm has a market capitalization of $57.30 billion, a PE ratio of 9.70, a P/E/G ratio of 1.73 and a beta of 0.91. The firm has a 50-day moving average price of $44.92 and a 200 day moving average price of $47.43. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The business had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the business earned $0.99 earnings per share. On average, 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 5.44%. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Analyst Upgrades and Downgrades

USB has been the topic of several research reports. JPMorgan Chase & Co. restated an “underweight” rating and set a $43.50 price objective (down previously from $51.00) on shares of U.S. Bancorp in a research note on Thursday. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target on the stock in a research report on Monday, January 13th. Oppenheimer lifted their price objective on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Wells Fargo & Company reduced their price target on shares of U.S. Bancorp from $62.00 to $56.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Finally, The Goldman Sachs Group decreased their price target on shares of U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Moderate Buy” and an average price target of $52.89.

Insider Buying and Selling

In related news, insider Jodi L. Richard sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the completion of the sale, the insider now directly owns 99,790 shares in the company, valued at approximately $4,749,006.10. This trade represents a 23.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP James L. Chosy sold 21,451 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total value of $1,022,140.15. Following the completion of the transaction, the executive vice president now directly owns 198,127 shares in the company, valued at $9,440,751.55. This represents a 9.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,812 shares of company stock valued at $10,385,665 over the last three months. Company insiders own 0.23% of the company’s stock.

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.