U.S. Bancorp $USB Shares Bought by Nilsine Partners LLC

Nilsine Partners LLC boosted its position in shares of U.S. Bancorp (NYSE:USB) by 380.5% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 33,748 shares of the financial services provider’s stock after buying an additional 26,725 shares during the period. Nilsine Partners LLC’s holdings in U.S. Bancorp were worth $2,038,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in USB. Financial Life Planners acquired a new stake in shares of U.S. Bancorp in the first quarter worth approximately $27,000. Main Street Group LTD acquired a new position in U.S. Bancorp in the 1st quarter valued at $28,000. JPL Wealth Management LLC purchased a new position in U.S. Bancorp in the 3rd quarter valued at $28,000. Archer Investment Corp acquired a new stake in U.S. Bancorp during the 2nd quarter worth $29,000. Finally, Parvin Asset Management LLC purchased a new stake in shares of U.S. Bancorp during the second quarter worth $30,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

U.S. Bancorp stock opened at $63.36 on Monday. The firm has a 50 day simple moving average of $63.07 and a 200-day simple moving average of $57.87. U.S. Bancorp has a 1-year low of $45.02 and a 1-year high of $66.07. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.82. The stock has a market cap of $98.72 billion, a price-to-earnings ratio of 12.65, a price-to-earnings-growth ratio of 1.13 and a beta of 0.95.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, beating the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The firm had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.58 billion. During the same quarter in the previous year, the company earned $1.11 EPS. On average, analysts expect that U.S. Bancorp will post 5.22 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 3.3%. U.S. Bancorp’s payout ratio is currently 41.52%.

Insider Buying and Selling at U.S. Bancorp

In related news, CEO Gunjan Kedia sold 27,267 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $62.37, for a total value of $1,700,642.79. Following the sale, the chief executive officer directly owned 426,262 shares in the company, valued at approximately $26,585,960.94. The trade was a 6.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen L. Philipson sold 36,906 shares of the company’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the completion of the transaction, the insider directly owned 74,969 shares in the company, valued at $4,729,044.52. The trade was a 32.99% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

USB has been the subject of several research reports. Keefe, Bruyette & Woods upped their price objective on shares of U.S. Bancorp from $63.00 to $66.00 and gave the company a “market perform” rating in a research note on Friday, July 17th. Barclays boosted their target price on U.S. Bancorp from $67.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Oppenheimer upped their price target on U.S. Bancorp from $73.00 to $77.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Stephens lifted their price objective on U.S. Bancorp from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Friday, July 17th. Finally, Truist Financial boosted their price objective on U.S. Bancorp from $66.00 to $69.00 and gave the stock a “buy” rating in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $67.06.

U.S. Bancorp 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.