U.S. Bancorp $USB Shares Bought by Davis Selected Advisers

Davis Selected Advisers increased its position in shares of U.S. Bancorp (NYSE:USB) by 29.8% in the second quarter, Holdings Channel reports. The institutional investor owned 19,331,637 shares of the financial services provider’s stock after buying an additional 4,442,623 shares during the period. U.S. Bancorp comprises 4.7% of Davis Selected Advisers’ portfolio, making the stock its 5th biggest holding. Davis Selected Advisers’ holdings in U.S. Bancorp were worth $874,757,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Crestwood Advisors Group LLC increased its position in shares of U.S. Bancorp by 10.6% in the first quarter. Crestwood Advisors Group LLC now owns 6,784 shares of the financial services provider’s stock valued at $286,000 after acquiring an additional 649 shares during the last quarter. Ally Financial Inc. grew its stake in U.S. Bancorp by 12.3% in the first quarter. Ally Financial Inc. now owns 91,000 shares of the financial services provider’s stock valued at $3,842,000 after purchasing an additional 10,000 shares in the last quarter. Andra AP fonden increased its position in shares of U.S. Bancorp by 175.6% during the 2nd quarter. Andra AP fonden now owns 458,400 shares of the financial services provider’s stock worth $20,743,000 after purchasing an additional 292,100 shares during the last quarter. Jump Financial LLC raised its stake in shares of U.S. Bancorp by 1,952.5% during the 1st quarter. Jump Financial LLC now owns 840,308 shares of the financial services provider’s stock worth $35,478,000 after purchasing an additional 799,368 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of U.S. Bancorp in the 1st quarter valued at approximately $428,000. Institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Citigroup upped their price target on shares of U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. UBS Group boosted their price objective on shares of U.S. Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. DA Davidson raised their target price on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Bank of America lifted their price target on U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Finally, Truist Financial upped their price objective on U.S. Bancorp from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.55.

U.S. Bancorp Trading Down 1.3%

Shares of USB stock opened at $47.29 on Friday. The stock has a market cap of $73.51 billion, a P/E ratio of 10.82, a price-to-earnings-growth ratio of 1.25 and a beta of 1.10. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10. The stock has a 50 day simple moving average of $47.86 and a 200 day simple moving average of $46.01.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. The firm had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The company’s revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the company earned $1.03 EPS. On average, research analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.4%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, September 30th. U.S. Bancorp’s payout ratio is presently 47.60%.

Insider Activity

In other U.S. Bancorp news, EVP James L. Chosy sold 26,909 shares of the firm’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $46.86, for a total value of $1,260,955.74. Following the transaction, the executive vice president directly owned 226,375 shares of the company’s stock, valued at $10,607,932.50. This trade represents a 10.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Andrew Cecere sold 140,445 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the completion of the transaction, the chairman owned 1,360,414 shares of the company’s stock, valued at $63,041,584.76. The trade was a 9.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.23% of the company’s stock.

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.