Federated Hermes Inc. Purchases 1,221,784 Shares of U.S. Bancorp $USB

Federated Hermes Inc. grew its position in U.S. Bancorp (NYSE:USB) by 12.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,153,092 shares of the financial services provider’s stock after acquiring an additional 1,221,784 shares during the quarter. U.S. Bancorp accounts for about 1.0% of Federated Hermes Inc.’s holdings, making the stock its 12th largest position. Federated Hermes Inc. owned 0.72% of U.S. Bancorp worth $539,029,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of U.S. Bancorp by 323.0% during the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock worth $2,309,000 after acquiring an additional 36,863 shares during the period. Empowered Funds LLC raised its position in U.S. Bancorp by 2.1% in the first quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock worth $1,453,000 after purchasing an additional 714 shares in the last quarter. Intech Investment Management LLC lifted its stake in U.S. Bancorp by 18.9% during the first quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider’s stock worth $1,658,000 after purchasing an additional 6,252 shares during the period. Sivia Capital Partners LLC acquired a new stake in U.S. Bancorp during the second quarter valued at approximately $425,000. Finally, Avior Wealth Management LLC grew its stake in shares of U.S. Bancorp by 21.7% in the 2nd quarter. Avior Wealth Management LLC now owns 8,034 shares of the financial services provider’s stock valued at $364,000 after purchasing an additional 1,435 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Trading Up 1.3%

USB stock opened at $56.55 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $56.70. The company has a market cap of $87.90 billion, a P/E ratio of 12.24, a PEG ratio of 1.00 and a beta of 1.07. The business has a fifty day moving average of $52.99 and a 200-day moving average of $49.24.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The firm had revenue of $7.92 billion during the quarter, compared to analyst estimates of $7.31 billion. During the same period last year, the company earned $1.07 earnings per share. The company’s revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.7%. The ex-dividend date was Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio is currently 45.02%.

Wall Street Analyst Weigh In

Several analysts recently commented on USB shares. Barclays boosted their price target on U.S. Bancorp from $56.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Citigroup boosted their target price on shares of U.S. Bancorp from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Morgan Stanley restated a “positive” rating on shares of U.S. Bancorp in a research report on Friday, October 17th. Deutsche Bank Aktiengesellschaft upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 target price for the company in a research note on Thursday, October 23rd. Finally, DA Davidson increased their price target on U.S. Bancorp from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, U.S. Bancorp presently has an average rating of “Moderate Buy” and an average target price of $58.19.

About U.S. Bancorp

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.