Weiss Asset Management LP Buys New Position in U.S. Bancorp $USB

Weiss Asset Management LP bought a new stake in shares of U.S. Bancorp (NYSE:USB) in the 1st quarter, HoldingsChannel reports. The firm bought 103,845 shares of the financial services provider’s stock, valued at approximately $5,401,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Cypress Capital Group purchased a new stake in shares of U.S. Bancorp during the 1st quarter valued at $6,092,000. Everest Financial Group LLC grew its position in U.S. Bancorp by 21.9% in the first quarter. Everest Financial Group LLC now owns 20,427 shares of the financial services provider’s stock worth $1,062,000 after acquiring an additional 3,668 shares in the last quarter. OMERS ADMINISTRATION Corp grew its position in U.S. Bancorp by 35.9% in the first quarter. OMERS ADMINISTRATION Corp now owns 129,263 shares of the financial services provider’s stock worth $6,723,000 after acquiring an additional 34,131 shares in the last quarter. Lombard Odier Asset Management Switzerland SA increased its stake in U.S. Bancorp by 81.2% in the first quarter. Lombard Odier Asset Management Switzerland SA now owns 155,257 shares of the financial services provider’s stock valued at $8,075,000 after acquiring an additional 69,562 shares during the last quarter. Finally, Lombard Odier Asset Management USA Corp purchased a new stake in U.S. Bancorp during the first quarter valued at about $330,000. Institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling at U.S. Bancorp

In related news, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the transaction, the executive vice president directly owned 51,292 shares of the company’s stock, valued at $2,847,731.84. The trade was a 40.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on USB. Jefferies Financial Group raised U.S. Bancorp from a “hold” rating to a “buy” rating and lifted their price target for the stock from $60.00 to $75.00 in a research note on Monday, July 6th. Truist Financial increased their price objective on U.S. Bancorp from $66.00 to $69.00 and gave the company a “buy” rating in a research report on Friday, July 17th. Raymond James Financial began coverage on U.S. Bancorp in a report on Wednesday, July 8th. They set a “strong-buy” rating and a $72.00 price objective on the stock. Weiss Ratings upgraded U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Finally, BTIG Research set a $67.50 target price on U.S. Bancorp in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

U.S. Bancorp Stock Up 0.9%

USB opened at $63.91 on Friday. U.S. Bancorp has a 12 month low of $43.46 and a 12 month high of $64.84. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96. The business’s 50-day moving average price is $58.89 and its 200-day moving average price is $56.42. The company has a market cap of $99.14 billion, a P/E ratio of 12.76, a P/E/G ratio of 1.05 and a beta of 0.96.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.The company had revenue of $7.71 billion during the quarter, compared to analysts’ expectations of $7.58 billion. During the same period in the prior year, the business posted $1.11 EPS. On average, equities analysts expect that U.S. Bancorp will post 5.22 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.52 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.08 annualized dividend and a yield of 3.3%. U.S. Bancorp’s payout ratio is presently 41.52%.

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.