U.S. Bancorp $USB Position Boosted by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in U.S. Bancorp (NYSE:USB) by 1.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 37,679,617 shares of the financial services provider’s stock after purchasing an additional 443,646 shares during the quarter. Geode Capital Management LLC’s holdings in U.S. Bancorp were worth $2,002,518,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Clayton Financial Group LLC acquired a new stake in U.S. Bancorp in the fourth quarter worth approximately $25,000. Guerra Advisors Inc acquired a new stake in U.S. Bancorp in the third quarter worth approximately $25,000. Financial Life Planners acquired a new stake in U.S. Bancorp in the third quarter worth approximately $25,000. JPL Wealth Management LLC acquired a new stake in U.S. Bancorp in the third quarter worth approximately $28,000. Finally, Westfuller Advisors LLC lifted its position in U.S. Bancorp by 54.7% in the fourth quarter. Westfuller Advisors LLC now owns 608 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 215 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

USB has been the subject of a number of research analyst reports. UBS Group restated a “neutral” rating and issued a $60.00 target price on shares of U.S. Bancorp in a research report on Wednesday, February 4th. Truist Financial cut their target price on U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, April 17th. Jefferies Financial Group restated a “hold” rating and issued a $60.00 target price on shares of U.S. Bancorp in a research report on Thursday, April 16th. Evercore upped their target price on U.S. Bancorp from $60.00 to $65.00 and gave the stock an “in-line” rating in a research report on Thursday, February 5th. Finally, JPMorgan Chase & Co. cut their target price on U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating for the company in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.20.

Insiders Place Their Bets

In other news, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the sale, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the sale, the insider owned 207,251 shares of the company’s stock, valued at $11,813,307. This trade represents a 16.18% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by corporate insiders.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $54.45 on Friday. U.S. Bancorp has a one year low of $42.55 and a one year high of $61.19. The stock has a fifty day moving average of $54.35 and a 200-day moving average of $53.91. The company has a market capitalization of $84.53 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 0.99 and a beta of 1.00. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The company had revenue of $7.32 billion during the quarter, compared to the consensus estimate of $7.27 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts anticipate that U.S. Bancorp will post 5.09 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Tuesday, March 31st. U.S. Bancorp’s dividend payout ratio is 43.61%.

U.S. Bancorp 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.