Howard Capital Management Inc. Increases Stake in U.S. Bancorp (NYSE:USB)

Howard Capital Management Inc. raised its stake in shares of U.S. Bancorp (NYSE:USB) by 72.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 15,528 shares of the financial services provider’s stock after purchasing an additional 6,548 shares during the quarter. Howard Capital Management Inc.’s holdings in U.S. Bancorp were worth $743,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. State Street Corp raised its position in shares of U.S. Bancorp by 1.2% in the 3rd quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock worth $3,110,115,000 after buying an additional 819,805 shares during the period. FMR LLC increased its stake in U.S. Bancorp by 32.7% during the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock worth $2,922,784,000 after acquiring an additional 15,746,852 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of U.S. Bancorp by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock worth $2,164,350,000 after purchasing an additional 1,796,336 shares during the period. Geode Capital Management LLC raised its holdings in U.S. Bancorp by 1.8% in the third quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock valued at $1,507,616,000 after buying an additional 599,852 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of U.S. Bancorp by 4.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,235,426 shares of the financial services provider’s stock valued at $513,796,000 after acquiring an additional 436,252 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analysts Set New Price Targets

USB has been the topic of several recent research reports. Evercore ISI boosted their price target on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a research note on Monday, January 13th. Oppenheimer upped their target price on U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Truist Financial began coverage on shares of U.S. Bancorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $54.00 price target for the company. Finally, Compass Point upped their price target on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $54.21.

U.S. Bancorp Trading Down 0.7 %

Shares of NYSE USB opened at $45.57 on Tuesday. The company has a market cap of $71.08 billion, a price-to-earnings ratio of 12.02, a price-to-earnings-growth ratio of 1.73 and a beta of 1.04. The stock’s 50 day simple moving average is $48.08 and its 200 day simple moving average is $47.76. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.01. The company had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 earnings per share. Equities research analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.39%. U.S. Bancorp’s payout ratio is currently 52.77%.

Insider Buying and Selling at U.S. Bancorp

In related news, CEO Andrew Cecere sold 102,044 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total value of $4,821,579.00. Following the sale, the chief executive officer now directly owns 1,230,316 shares in the company, valued at $58,132,431. This trade represents a 7.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total value of $3,114,246.32. Following the completion of the transaction, the insider now directly owns 209,482 shares of the company’s stock, valued at approximately $9,837,274.72. The trade was a 24.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Company 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 through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.