Summitry LLC Buys 9,008 Shares of U.S. Bancorp $USB

Summitry LLC increased its stake in shares of U.S. Bancorp (NYSE:USB) by 6.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 140,580 shares of the financial services provider’s stock after acquiring an additional 9,008 shares during the period. Summitry LLC’s holdings in U.S. Bancorp were worth $6,794,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of U.S. Bancorp by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 144,548,379 shares of the financial services provider’s stock worth $6,986,023,000 after purchasing an additional 1,279,104 shares in the last quarter. Smithfield Trust Co increased its holdings in U.S. Bancorp by 2,543.2% during the third quarter. Smithfield Trust Co now owns 1,956 shares of the financial services provider’s stock worth $95,000 after buying an additional 1,882 shares during the last quarter. State of New Jersey Common Pension Fund D raised its position in U.S. Bancorp by 3.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 523,423 shares of the financial services provider’s stock worth $25,297,000 after acquiring an additional 15,822 shares in the last quarter. HighTower Advisors LLC lifted its stake in U.S. Bancorp by 6.5% in the third quarter. HighTower Advisors LLC now owns 821,879 shares of the financial services provider’s stock valued at $39,722,000 after acquiring an additional 50,132 shares during the last quarter. Finally, Berkshire Asset Management LLC PA grew its position in shares of U.S. Bancorp by 14.2% in the 3rd quarter. Berkshire Asset Management LLC PA now owns 5,923 shares of the financial services provider’s stock valued at $286,000 after acquiring an additional 738 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $57.66 on Monday. The firm has a market cap of $89.63 billion, a P/E ratio of 12.48, a price-to-earnings-growth ratio of 1.03 and a beta of 1.06. The business’s 50 day moving average is $55.43 and its 200-day moving average is $50.37. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $61.19.

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

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is currently 45.02%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on USB shares. Argus upped their target price on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Barclays upped their price objective on U.S. Bancorp from $56.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. HSBC reaffirmed a “buy” rating and issued a $62.00 price objective on shares of U.S. Bancorp in a research report on Wednesday, January 7th. Keefe, Bruyette & Woods increased their price target on U.S. Bancorp from $58.00 to $59.00 and gave the company a “market perform” rating in a research note on Wednesday, January 21st. Finally, Truist Financial raised their price target on U.S. Bancorp from $58.00 to $61.00 and gave the company a “hold” rating in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.79.

Insider Buying and Selling

In other U.S. Bancorp news, insider Mark G. Runkel sold 32,195 shares of the business’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $60.65, for a total value of $1,952,626.75. Following the completion of the sale, the insider owned 97,728 shares of the company’s stock, valued at $5,927,203.20. The trade was a 24.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.23% of the company’s stock.

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.