Truist Financial Corp Has $49.75 Million Stake in U.S. Bancorp $USB

Truist Financial Corp decreased its position in U.S. Bancorp (NYSE:USB) by 3.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,029,340 shares of the financial services provider’s stock after selling 39,940 shares during the period. Truist Financial Corp owned approximately 0.07% of U.S. Bancorp worth $49,748,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. IMG Wealth Management Inc. acquired a new position in shares of U.S. Bancorp during the second quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in U.S. Bancorp during the 3rd quarter worth approximately $26,000. Hillsdale Investment Management Inc. acquired a new position in U.S. Bancorp during the 2nd quarter worth approximately $27,000. Pineridge Advisors LLC boosted its holdings in U.S. Bancorp by 446.2% in the second quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 522 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. acquired a new stake in U.S. Bancorp in the third quarter valued at approximately $31,000. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $56.35 on Friday. The company has a market capitalization of $87.60 billion, a PE ratio of 12.20, a PEG ratio of 1.00 and a beta of 1.07. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock’s 50 day moving average price is $53.37 and its 200-day moving average price is $49.33. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $56.70.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The business had revenue of $7.92 billion for the quarter, compared to analyst estimates of $7.31 billion. During the same period last year, the company posted $1.07 earnings per share. U.S. Bancorp’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is 45.02%.

Wall Street Analyst Weigh In

USB has been the topic of a number of recent research reports. UBS Group increased their target price on U.S. Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Barclays raised their price objective on shares of U.S. Bancorp from $56.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Argus boosted their target price on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Keefe, Bruyette & Woods raised their price target on shares of U.S. Bancorp from $58.00 to $59.00 and gave the company a “market perform” rating in a research report on Wednesday, January 21st. Finally, Truist Financial boosted their price objective on U.S. Bancorp from $58.00 to $61.00 and gave the stock a “hold” rating in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average target price of $58.19.

U.S. Bancorp Company 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.