QRG Capital Management Inc. Acquires 25,948 Shares of U.S. Bancorp $USB

QRG Capital Management Inc. raised its holdings in shares of U.S. Bancorp (NYSE:USB) by 26.5% during the fourth quarter, HoldingsChannel reports. The firm owned 123,760 shares of the financial services provider’s stock after purchasing an additional 25,948 shares during the period. QRG Capital Management Inc.’s holdings in U.S. Bancorp were worth $6,604,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Guerra Advisors Inc bought a new position in shares of U.S. Bancorp during the third quarter valued at approximately $25,000. Financial Life Planners bought a new position in U.S. Bancorp in the third quarter worth approximately $25,000. Clayton Financial Group LLC purchased a new stake in U.S. Bancorp during the fourth quarter worth $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in U.S. Bancorp during the 3rd quarter valued at $26,000. Finally, JPL Wealth Management LLC bought a new stake in U.S. Bancorp during the 3rd quarter valued at $28,000. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of USB opened at $55.61 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. The stock has a 50-day moving average of $54.04 and a two-hundred day moving average of $53.02. The stock has a market cap of $86.33 billion, a P/E ratio of 11.66, a P/E/G ratio of 1.00 and a beta of 1.00. U.S. Bancorp has a one year low of $40.89 and a one year high of $61.19.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.27 billion. During the same period last year, the business posted $1.03 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, research analysts predict that U.S. Bancorp will post 5.09 EPS for the current year.

U.S. Bancorp Announces Dividend

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

Insider Activity at U.S. Bancorp

In related news, insider Jodi L. Richard sold 40,000 shares of the firm’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the transaction, the insider owned 207,251 shares of the company’s stock, valued at $11,813,307. This trade represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark G. Runkel sold 32,195 shares of the company’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the completion of the sale, the insider directly owned 97,728 shares in the company, valued at approximately $5,927,203.20. The trade was a 24.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Truist Financial reduced their price target on U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, April 17th. Piper Sandler reiterated a “buy” rating on shares of U.S. Bancorp in a research note on Thursday, February 26th. Weiss Ratings upgraded shares of U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday. TD Cowen raised their price target on shares of U.S. Bancorp from $65.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Finally, Wolfe Research downgraded shares of U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.20.

U.S. Bancorp 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.