Outlook Capital Management LLC Purchases Shares of 54,000 U.S. Bancorp $USB

Outlook Capital Management LLC acquired a new stake in shares of U.S. Bancorp (NYSE:USB) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 54,000 shares of the financial services provider’s stock, valued at approximately $3,262,000. U.S. Bancorp accounts for 1.1% of Outlook Capital Management LLC’s investment portfolio, making the stock its 10th largest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in USB. State Street Corp grew its stake in U.S. Bancorp by 0.8% in the fourth quarter. State Street Corp now owns 69,701,898 shares of the financial services provider’s stock valued at $3,755,083,000 after acquiring an additional 522,368 shares during the period. Mufg Bank LTD. bought a new position in shares of U.S. Bancorp in the 2nd quarter worth $2,680,199,000. Geode Capital Management LLC lifted its holdings in shares of U.S. Bancorp by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 37,679,617 shares of the financial services provider’s stock worth $2,002,518,000 after purchasing an additional 443,646 shares in the last quarter. Norges Bank acquired a new stake in U.S. Bancorp in the 4th quarter valued at $1,887,497,000. Finally, Auto Owners Insurance Co grew its position in U.S. Bancorp by 5,236.0% in the 4th quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock valued at $1,779,556,000 after purchasing an additional 32,725,000 shares during the period. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 0.3%

USB opened at $63.36 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.82. The company’s 50-day moving average is $63.07 and its 200 day moving average is $57.87. U.S. Bancorp has a fifty-two week low of $45.02 and a fifty-two week high of $66.07. The firm has a market capitalization of $98.72 billion, a P/E ratio of 12.65, a PEG ratio of 1.13 and a beta of 0.95.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.07. The business had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.58 billion. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. During the same period in the prior year, the firm posted $1.11 EPS. Research analysts expect that U.S. Bancorp will post 5.22 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 41.52%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on USB. Wells Fargo & Company upped their price objective on shares of U.S. Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. CLSA set a $67.50 price objective on shares of U.S. Bancorp in a report on Monday, July 20th. Keefe, Bruyette & Woods boosted their target price on shares of U.S. Bancorp from $63.00 to $66.00 and gave the stock a “market perform” rating in a research report on Friday, July 17th. Truist Financial upped their target price on shares of U.S. Bancorp from $66.00 to $69.00 and gave the stock a “buy” rating in a report on Friday, July 17th. Finally, DA Davidson raised their price target on shares of U.S. Bancorp from $72.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $67.06.

Insiders Place Their Bets

In other news, CEO Gunjan Kedia sold 27,267 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the completion of the sale, the chief executive officer directly owned 426,262 shares of the company’s stock, valued at $26,585,960.94. This trade represents a 6.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen L. Philipson sold 36,906 shares of U.S. Bancorp stock in a transaction on Monday, July 20th. The stock was sold at an average price of $63.08, for a total value of $2,328,030.48. Following the sale, the insider owned 74,969 shares in the company, valued at $4,729,044.52. The trade was a 32.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by corporate insiders.

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.