U.S. Bancorp (NYSE:USB) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp increased its position in shares of U.S. Bancorp (NYSE:USB) by 3.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,183,593 shares of the financial services provider’s stock after acquiring an additional 331,580 shares during the quarter. Van ECK Associates Corp’s holdings in U.S. Bancorp were worth $487,081,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of USB. State Street Corp increased its stake in U.S. Bancorp by 1.2% during the third quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock worth $3,110,115,000 after acquiring an additional 819,805 shares during the last quarter. FMR LLC grew its holdings in shares of U.S. Bancorp by 32.7% during the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock worth $2,922,784,000 after purchasing an additional 15,746,852 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of U.S. Bancorp by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock worth $2,164,350,000 after purchasing an additional 1,796,336 shares during the last quarter. Geode Capital Management LLC raised its holdings in U.S. Bancorp by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock valued at $1,507,616,000 after buying an additional 599,852 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in U.S. Bancorp by 4.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,235,426 shares of the financial services provider’s stock valued at $513,796,000 after buying an additional 436,252 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Activity

In related news, insider Jodi L. Richard sold 30,000 shares of U.S. Bancorp stock in a transaction 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 sale, the insider now directly owns 99,790 shares in the company, valued at $4,749,006.10. This trade represents a 23.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Terrance R. Dolan sold 66,317 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the completion of the transaction, the insider now owns 209,482 shares of the company’s stock, valued at $9,837,274.72. This represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Stock Down 0.1 %

Shares of U.S. Bancorp stock opened at $47.52 on Thursday. 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 has a 52-week low of $37.81 and a 52-week high of $53.98. The company has a market capitalization of $74.13 billion, a P/E ratio of 12.54, a P/E/G ratio of 1.77 and a beta of 1.04. The company has a 50 day moving average of $48.88 and a 200 day moving average of $47.50.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. The business had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.99 EPS. As a group, research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.21%. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Wall Street Analyst Weigh In

USB has been the subject of a number of recent analyst reports. Oppenheimer lifted their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price for the company in a report on Monday, January 13th. Evercore ISI upped their price target on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Morgan Stanley dropped their price objective on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Wells Fargo & Company boosted their price objective on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.21.

U.S. Bancorp Company 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.