First Nebraska Trust Co Makes New Investment in U.S. Bancorp $USB

First Nebraska Trust Co acquired a new stake in U.S. Bancorp (NYSE:USB) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 117,204 shares of the financial services provider’s stock, valued at approximately $6,770,000.

Other institutional investors have also recently bought and sold shares of the company. Mufg Bank LTD. acquired a new stake in shares of U.S. Bancorp in the second quarter valued at $2,680,199,000. Bank of America Corp DE raised its holdings in shares of U.S. Bancorp by 6.9% in the first quarter. Bank of America Corp DE now owns 15,820,033 shares of the financial services provider’s stock valued at $822,800,000 after buying an additional 1,022,898 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of U.S. Bancorp by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock valued at $539,232,000 after buying an additional 93,025 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in U.S. Bancorp during the 2nd quarter worth about $536,457,000. Finally, First Trust Advisors LP lifted its position in U.S. Bancorp by 39.9% during the 1st quarter. First Trust Advisors LP now owns 8,118,845 shares of the financial services provider’s stock worth $422,261,000 after buying an additional 2,314,081 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on USB. Keefe, Bruyette & Woods increased their price objective on shares of U.S. Bancorp from $63.00 to $66.00 and gave the stock a “market perform” rating in a report on Friday, July 17th. Truist Financial dropped their target price on shares of U.S. Bancorp from $69.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday, October 1st. CLSA set a $67.50 target price on shares of U.S. Bancorp in a research report on Monday, July 20th. Wells Fargo & Company increased their price target on shares of U.S. Bancorp from $66.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Finally, Barclays increased their price target on shares of U.S. Bancorp from $67.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, U.S. Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $69.36.

Insider Buying and Selling at U.S. Bancorp

In related news, CEO Gunjan Kedia sold 27,267 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $62.37, for a total value of $1,700,642.79. Following the transaction, the chief executive officer directly owned 426,262 shares in the company, valued at $26,585,960.94. This represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by company insiders.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $59.84 on Wednesday. The business’s 50-day simple moving average is $59.80 and its 200 day simple moving average is $58.09. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.87. The stock has a market cap of $93.24 billion, a price-to-earnings ratio of 11.67, a P/E/G ratio of 1.15 and a beta of 1.02. U.S. Bancorp has a 12-month low of $45.02 and a 12-month high of $66.07.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, October 15th. The financial services provider reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.02. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. The firm had revenue of $8.04 billion during the quarter, compared to analysts’ expectations of $8 billion. During the same period in the previous year, the business posted $1.22 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, research analysts anticipate that U.S. Bancorp will post 5.30 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.54 per share. The ex-dividend date was Wednesday, September 30th. This represents a $2.16 annualized dividend and a dividend yield of 3.6%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.52. U.S. Bancorp’s dividend payout ratio is presently 42.11%.

U.S. Bancorp Profile

U.S. Bancorp (NYSE: USB) is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. U.S. Bank provides banking, lending, payment, investment and wealth-management services to individuals, businesses, institutions and government entities.

The company’s consumer and business banking operations offer deposit accounts, mortgages, home-equity and consumer loans, credit cards, small-business banking and commercial lending.