Hennessy Advisors Inc. Boosts Stock Holdings in U.S. Bancorp $USB

Hennessy Advisors Inc. boosted its position in U.S. Bancorp (NYSE:USB) by 115.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,000 shares of the financial services provider’s stock after purchasing an additional 15,000 shares during the period. Hennessy Advisors Inc.’s holdings in U.S. Bancorp were worth $1,494,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in U.S. Bancorp by 0.9% in the third quarter. Vanguard Group Inc. now owns 144,548,379 shares of the financial services provider’s stock valued at $6,986,023,000 after purchasing an additional 1,279,104 shares during the last quarter. State Street Corp lifted its position in shares of U.S. Bancorp by 0.9% during the third quarter. State Street Corp now owns 69,179,530 shares of the financial services provider’s stock worth $3,378,808,000 after acquiring an additional 648,943 shares in the last quarter. Davis Selected Advisers lifted its position in shares of U.S. Bancorp by 0.5% during the third quarter. Davis Selected Advisers now owns 19,431,562 shares of the financial services provider’s stock worth $939,127,000 after acquiring an additional 99,925 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of U.S. Bancorp by 7.2% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 17,758,947 shares of the financial services provider’s stock worth $858,290,000 after acquiring an additional 1,189,525 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of U.S. Bancorp by 1.1% during the third quarter. Northern Trust Corp now owns 16,438,774 shares of the financial services provider’s stock worth $794,486,000 after acquiring an additional 172,645 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on USB shares. Keefe, Bruyette & Woods increased their target price on U.S. Bancorp from $58.00 to $59.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 21st. DA Davidson restated a “buy” rating and set a $65.00 target price on shares of U.S. Bancorp in a research report on Friday, April 17th. Wolfe Research downgraded U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 7th. JPMorgan Chase & Co. dropped their target price on U.S. Bancorp from $62.00 to $58.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 7th. Finally, Truist Financial dropped their target price on U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $61.18.

U.S. Bancorp Trading Down 0.3%

Shares of USB stock opened at $56.85 on Wednesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81. U.S. Bancorp has a 52-week low of $38.16 and a 52-week high of $61.19. The company has a market capitalization of $88.24 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 1.03 and a beta of 1.01. The business’s fifty day moving average is $54.36 and its 200 day moving average is $52.49.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. U.S. Bancorp had a return on equity of 18.26% and a net margin of 18.01%.The company had revenue of $7.29 billion for the quarter, compared to the consensus estimate of $7.27 billion. During the same quarter last year, the business posted $1.03 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts anticipate that U.S. Bancorp will post 5.07 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Tuesday, March 31st. U.S. Bancorp’s dividend payout ratio (DPR) is 43.61%.

Insider Activity

In related news, insider Mark G. Runkel sold 32,195 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $60.65, for a total value of $1,952,626.75. Following the sale, the insider owned 97,728 shares in the company, valued at approximately $5,927,203.20. This trade represents a 24.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.21% of the company’s stock.

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.