Northern Trust Corp Increases Holdings in U.S. Bancorp (NYSE:USB)

Northern Trust Corp raised its stake in shares of U.S. Bancorp (NYSE:USB) by 10.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,050,568 shares of the financial services provider’s stock after buying an additional 1,670,305 shares during the period. Northern Trust Corp owned about 1.09% of U.S. Bancorp worth $815,529,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of U.S. Bancorp by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider’s stock worth $6,640,569,000 after purchasing an additional 1,079,056 shares in the last quarter. FMR LLC increased its stake in shares of U.S. Bancorp by 5.0% in the 4th quarter. FMR LLC now owns 67,125,746 shares of the financial services provider’s stock worth $3,210,624,000 after purchasing an additional 3,211,815 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of U.S. Bancorp by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock worth $2,381,443,000 after purchasing an additional 2,460,845 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of U.S. Bancorp by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 33,937,360 shares of the financial services provider’s stock worth $1,618,948,000 after purchasing an additional 850,763 shares in the last quarter. Finally, Amundi increased its stake in shares of U.S. Bancorp by 7.4% in the 4th quarter. Amundi now owns 19,485,615 shares of the financial services provider’s stock worth $945,268,000 after purchasing an additional 1,341,407 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

USB has been the subject of several analyst reports. Citigroup reduced their price objective on U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Truist Financial dropped their target price on shares of U.S. Bancorp from $51.00 to $48.00 and set a “hold” rating for the company in a report on Thursday, April 17th. Morgan Stanley dropped their target price on shares of U.S. Bancorp from $51.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Bank of America dropped their target price on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a report on Monday, March 17th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of U.S. Bancorp from $54.00 to $49.00 and set a “market perform” rating for the company in a report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.48.

Insider Activity

In related news, EVP James L. Chosy sold 21,451 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the completion of the transaction, the executive vice president now owns 198,127 shares in the company, valued at $9,440,751.55. The trade was a 9.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Aleem Gillani bought 5,000 shares of U.S. Bancorp stock in a transaction on Monday, April 21st. The stock was acquired at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the purchase, the director now owns 15,000 shares of the company’s stock, valued at approximately $559,800. This trade represents a 50.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 219,812 shares of company stock valued at $10,385,665. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Stock Up 0.6 %

Shares of NYSE USB opened at $40.15 on Tuesday. The firm’s 50-day moving average price is $41.57 and its 200-day moving average price is $46.57. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $62.55 billion, a price-to-earnings ratio of 10.59, a P/E/G ratio of 1.73 and a beta of 0.91. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.06. The firm had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.92 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. During the same period in the prior year, the company earned $0.78 EPS. On average, equities research analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.98%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 49.50%.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.