Federated Hermes Inc. Grows Stock Holdings in U.S. Bancorp (NYSE:USB)

Federated Hermes Inc. raised its holdings in shares of U.S. Bancorp (NYSE:USB) by 0.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,610,404 shares of the financial services provider’s stock after buying an additional 10,640 shares during the period. U.S. Bancorp comprises approximately 1.0% of Federated Hermes Inc.’s investment portfolio, making the stock its 10th biggest position. Federated Hermes Inc. owned approximately 0.62% of U.S. Bancorp worth $415,938,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wright Investors Service Inc. increased its stake in U.S. Bancorp by 74.1% in the 4th quarter. Wright Investors Service Inc. now owns 68,334 shares of the financial services provider’s stock worth $2,958,000 after purchasing an additional 29,080 shares in the last quarter. Roman Butler Fullerton & Co. purchased a new position in shares of U.S. Bancorp in the fourth quarter worth approximately $201,000. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of U.S. Bancorp by 135.4% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,608 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 1,500 shares during the period. Daiwa Securities Group Inc. lifted its position in shares of U.S. Bancorp by 6.2% in the 4th quarter. Daiwa Securities Group Inc. now owns 138,280 shares of the financial services provider’s stock valued at $5,985,000 after acquiring an additional 8,071 shares in the last quarter. Finally, KLCM Advisors Inc. boosted its stake in U.S. Bancorp by 0.7% in the 4th quarter. KLCM Advisors Inc. now owns 132,701 shares of the financial services provider’s stock worth $5,743,000 after purchasing an additional 961 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In related news, EVP James L. Chosy sold 21,582 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction of $895,005.54. Following the completion of the transaction, the executive vice president now owns 164,880 shares in the company, valued at approximately $6,837,573.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $41.47, for a total transaction of $895,005.54. Following the sale, the executive vice president now directly owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Terrance R. Dolan sold 26,583 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total value of $1,152,904.71. Following the sale, the insider now owns 144,236 shares in the company, valued at $6,255,515.32. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Stock Performance

NYSE USB traded up $0.45 during midday trading on Thursday, hitting $39.97. The company had a trading volume of 3,272,443 shares, compared to its average volume of 8,705,787. The firm has a fifty day simple moving average of $42.33 and a two-hundred day simple moving average of $39.72. U.S. Bancorp has a fifty-two week low of $27.27 and a fifty-two week high of $45.85. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. The stock has a market cap of $62.28 billion, a price-to-earnings ratio of 12.06, a P/E/G ratio of 2.12 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The business had revenue of $6.72 billion for the quarter, compared to the consensus estimate of $6.71 billion. U.S. Bancorp had a return on equity of 14.89% and a net margin of 13.36%. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period last year, the business earned $1.16 earnings per share. Equities analysts forecast that U.S. Bancorp will post 3.87 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date of this dividend was Wednesday, March 27th. U.S. Bancorp’s payout ratio is 59.76%.

Wall Street Analyst Weigh In

Several analysts have recently commented on USB shares. TheStreet raised U.S. Bancorp from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th. Piper Sandler reaffirmed a “neutral” rating on shares of U.S. Bancorp in a research note on Friday, January 26th. StockNews.com downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, February 20th. Stephens cut shares of U.S. Bancorp from an “overweight” rating to an “equal weight” rating in a report on Wednesday, December 20th. Finally, Barclays dropped their price objective on shares of U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, U.S. Bancorp presently has an average rating of “Hold” and an average target price of $46.86.

About U.S. Bancorp

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.