Thomasville National Bank Boosts Stake in U.S. Bancorp (NYSE:USB)

Thomasville National Bank increased its position in shares of U.S. Bancorp (NYSE:USB) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 662,228 shares of the financial services provider’s stock after purchasing an additional 11,043 shares during the period. U.S. Bancorp accounts for about 2.3% of Thomasville National Bank’s holdings, making the stock its 15th biggest holding. Thomasville National Bank’s holdings in U.S. Bancorp were worth $31,674,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its position in U.S. Bancorp by 1.2% during the third quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock worth $3,110,115,000 after purchasing an additional 819,805 shares during the last quarter. FMR LLC increased its position in shares of U.S. Bancorp by 32.7% during the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after acquiring an additional 15,746,852 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of U.S. Bancorp by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock valued at $2,164,350,000 after acquiring an additional 1,796,336 shares during the last quarter. Geode Capital Management LLC increased its position in shares of U.S. Bancorp by 1.8% during the third quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock valued at $1,507,616,000 after acquiring an additional 599,852 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of U.S. Bancorp by 2.7% during the second quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider’s stock valued at $491,364,000 after acquiring an additional 325,374 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

USB has been the subject of a number of research reports. Stephens lifted their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Oppenheimer decreased their price target on shares of U.S. Bancorp from $66.00 to $62.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a research note on Thursday, October 17th. Truist Financial began coverage on shares of U.S. Bancorp in a research note on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price target for the company. Finally, Barclays boosted their price objective on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.07.

U.S. Bancorp Price Performance

NYSE USB traded up $0.26 during trading hours on Monday, reaching $47.64. The company’s stock had a trading volume of 2,361,137 shares, compared to its average volume of 6,081,087. The stock has a market cap of $74.32 billion, a PE ratio of 14.57, a PEG ratio of 3.01 and a beta of 1.05. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The company’s 50-day moving average is $50.20 and its two-hundred day moving average is $46.55. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.04. The company had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. U.S. Bancorp’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.05 EPS. Analysts forecast that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.00 annualized dividend and a yield of 4.20%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 61.16%.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the completion of the sale, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. This represents a 16.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.23% of the stock is currently owned by insiders.

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.