Great West Life Assurance Co. Can lowered its stake in U.S. Bancorp (NYSE:USB – Free Report) by 4.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,170,477 shares of the financial services provider’s stock after selling 50,205 shares during the quarter. Great West Life Assurance Co. Can owned 0.08% of U.S. Bancorp worth $38,820,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of USB. Nemes Rush Group LLC bought a new stake in shares of U.S. Bancorp during the second quarter valued at approximately $25,000. Cedar Mountain Advisors LLC raised its holdings in U.S. Bancorp by 82.0% during the second quarter. Cedar Mountain Advisors LLC now owns 899 shares of the financial services provider’s stock worth $30,000 after buying an additional 405 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its stake in shares of U.S. Bancorp by 73.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 962 shares of the financial services provider’s stock valued at $32,000 after buying an additional 406 shares in the last quarter. Archer Investment Corp grew its holdings in shares of U.S. Bancorp by 63.2% during the second quarter. Archer Investment Corp now owns 979 shares of the financial services provider’s stock valued at $32,000 after buying an additional 379 shares during the last quarter. Finally, Arlington Partners LLC increased its position in shares of U.S. Bancorp by 703.9% during the second quarter. Arlington Partners LLC now owns 1,029 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 901 shares in the last quarter. Institutional investors and hedge funds own 75.40% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on USB. Morgan Stanley dropped their price target on shares of U.S. Bancorp from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 3rd. Citigroup lowered their price target on U.S. Bancorp from $40.00 to $37.00 and set a “neutral” rating for the company in a research report on Friday, September 22nd. Piper Sandler cut their price objective on shares of U.S. Bancorp from $41.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, September 15th. DA Davidson increased their target price on shares of U.S. Bancorp from $39.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, July 24th. Finally, Stephens restated an “overweight” rating and set a $47.00 price target on shares of U.S. Bancorp in a report on Monday, July 24th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $45.90.
Insider Buying and Selling at U.S. Bancorp
In related news, insider James B. Kelligrew purchased 500 shares of the business’s stock in a transaction dated Sunday, August 27th. The stock was purchased at an average cost of $54.40 per share, with a total value of $27,200.00. Following the completion of the acquisition, the insider now directly owns 940 shares of the company’s stock, valued at $51,136. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have acquired 654 shares of company stock valued at $30,148 in the last 90 days. 0.24% of the stock is currently owned by company insiders.
U.S. Bancorp Price Performance
Shares of NYSE USB opened at $37.64 on Tuesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $58.61 billion, a PE ratio of 11.20, a P/E/G ratio of 1.72 and a beta of 1.02. U.S. Bancorp has a one year low of $27.27 and a one year high of $49.95. The business’s fifty day moving average price is $33.53 and its 200-day moving average price is $34.18.
U.S. Bancorp (NYSE:USB – Get Free Report) last released its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $1.05 EPS for the quarter, beating the consensus estimate of $0.96 by $0.09. The business had revenue of $7.03 billion for the quarter, compared to the consensus estimate of $7.02 billion. U.S. Bancorp had a net margin of 14.39% and a return on equity of 15.80%. The company’s revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.18 earnings per share. On average, equities research analysts anticipate that U.S. Bancorp will post 4.32 EPS for the current year.
U.S. Bancorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were paid a $0.48 dividend. The ex-dividend date was Thursday, September 28th. This represents a $1.92 dividend on an annualized basis and a yield of 5.10%. U.S. Bancorp’s dividend payout ratio is 57.14%.
U.S. Bancorp 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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.
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