Victory Capital Management Inc. Acquires 3,672,742 Shares of U.S. Bancorp $USB

Victory Capital Management Inc. grew its holdings in U.S. Bancorp (NYSE:USB) by 63.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,480,254 shares of the financial services provider’s stock after acquiring an additional 3,672,742 shares during the period. Victory Capital Management Inc.’s holdings in U.S. Bancorp were worth $505,866,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Citigroup Inc. raised its position in shares of U.S. Bancorp by 2.4% during the 3rd quarter. Citigroup Inc. now owns 1,749,812 shares of the financial services provider’s stock valued at $84,568,000 after purchasing an additional 41,803 shares during the period. Danske Bank A S bought a new stake in shares of U.S. Bancorp during the 3rd quarter valued at $37,162,000. Nordea Investment Management AB raised its position in shares of U.S. Bancorp by 15.3% during the 4th quarter. Nordea Investment Management AB now owns 2,690,174 shares of the financial services provider’s stock valued at $144,462,000 after purchasing an additional 357,300 shares during the period. Goodman Advisory Group LLC raised its position in shares of U.S. Bancorp by 30.5% during the 3rd quarter. Goodman Advisory Group LLC now owns 194,035 shares of the financial services provider’s stock valued at $9,378,000 after purchasing an additional 45,365 shares during the period. Finally, Lighthouse Investment Partners LLC raised its position in shares of U.S. Bancorp by 92.9% during the 3rd quarter. Lighthouse Investment Partners LLC now owns 252,335 shares of the financial services provider’s stock valued at $12,195,000 after purchasing an additional 121,529 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Jodi L. Richard sold 40,000 shares of U.S. Bancorp stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the transaction, the insider directly owned 207,251 shares of the company’s stock, valued at $11,813,307. This trade represents a 16.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the transaction, the executive vice president directly owned 51,292 shares of the company’s stock, valued at $2,847,731.84. The trade was a 40.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

USB has been the topic of several recent analyst reports. Piper Sandler restated a “buy” rating on shares of U.S. Bancorp in a research report on Thursday, February 26th. Jefferies Financial Group reaffirmed a “hold” rating and set a $60.00 target price on shares of U.S. Bancorp in a research note on Thursday, April 16th. Wall Street Zen cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Barclays raised their target price on shares of U.S. Bancorp from $65.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. Finally, JPMorgan Chase & Co. cut their target price on shares of U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating for the company in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $61.20.

U.S. Bancorp Stock Performance

USB opened at $58.90 on Friday. U.S. Bancorp has a fifty-two week low of $42.55 and a fifty-two week high of $61.19. The stock has a market capitalization of $91.37 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 1.04 and a beta of 0.97. The company has a fifty day moving average of $55.25 and a 200 day moving average of $54.53. 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 (NYSE:USB) last issued its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The business had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.27 billion. During the same period last year, the company posted $1.03 EPS. The business’s revenue was up 4.7% on a year-over-year basis. As a group, sell-side analysts forecast that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

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.