U.S. Bancorp $USB Shares Bought by Sterling Capital Management LLC

Sterling Capital Management LLC increased its stake in U.S. Bancorp (NYSE:USB) by 5.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 209,728 shares of the financial services provider’s stock after purchasing an additional 10,389 shares during the period. Sterling Capital Management LLC’s holdings in U.S. Bancorp were worth $12,114,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mufg Bank LTD. acquired a new stake in U.S. Bancorp during the second quarter worth about $2,680,199,000. Bank of America Corp DE raised its position in shares of U.S. Bancorp by 6.9% in the 1st quarter. Bank of America Corp DE now owns 15,820,033 shares of the financial services provider’s stock valued at $822,800,000 after buying an additional 1,022,898 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of U.S. Bancorp by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock worth $539,232,000 after acquiring an additional 93,025 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of U.S. Bancorp during the 2nd quarter worth approximately $536,457,000. Finally, First Trust Advisors LP lifted its holdings in shares of U.S. Bancorp by 39.9% during the 1st quarter. First Trust Advisors LP now owns 8,118,845 shares of the financial services provider’s stock worth $422,261,000 after acquiring an additional 2,314,081 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Gunjan Kedia sold 27,267 shares of U.S. Bancorp stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $62.37, for a total value of $1,700,642.79. Following the completion of the transaction, the chief executive officer directly owned 426,262 shares of the company’s stock, valued at approximately $26,585,960.94. This trade represents a 6.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on USB. Truist Financial decreased their price objective on shares of U.S. Bancorp from $69.00 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, October 1st. Citigroup decreased their price target on U.S. Bancorp from $72.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, October 16th. Raymond James Financial lowered their price target on U.S. Bancorp from $74.00 to $72.00 and set a “strong-buy” rating for the company in a report on Tuesday, October 6th. TD Cowen started coverage on U.S. Bancorp in a report on Thursday, October 8th. They set a “buy” rating and a $70.00 price target for the company. Finally, Oppenheimer upped their price objective on U.S. Bancorp from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Friday, October 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, U.S. Bancorp presently has an average rating of “Moderate Buy” and an average price target of $69.19.

U.S. Bancorp Trading Down 0.7%

NYSE USB traded down $0.43 on Friday, hitting $59.59. The company’s stock had a trading volume of 5,627,024 shares, compared to its average volume of 8,360,263. The company’s 50-day moving average is $60.25 and its 200 day moving average is $59.25. The firm has a market cap of $92.84 billion, a PE ratio of 11.62, a PEG ratio of 1.15 and a beta of 1.00. U.S. Bancorp has a 1-year low of $45.02 and a 1-year high of $66.07. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.87.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, October 15th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.02. The business had revenue of $8.04 billion during the quarter, compared to analyst estimates of $8 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. U.S. Bancorp’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the company earned $1.22 EPS. As a group, analysts predict that U.S. Bancorp will post 5.29 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were issued a $0.54 dividend. The ex-dividend date was Wednesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.52. This represents a $2.16 annualized dividend and a yield of 3.6%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 42.11%.

U.S. Bancorp Profile

U.S. Bancorp (NYSE: USB) is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. U.S. Bank provides banking, lending, payment, investment and wealth-management services to individuals, businesses, institutions and government entities.

The company’s consumer and business banking operations offer deposit accounts, mortgages, home-equity and consumer loans, credit cards, small-business banking and commercial lending.