Amundi Has $945.27 Million Stake in U.S. Bancorp (NYSE:USB)

Amundi raised its position in U.S. Bancorp (NYSE:USB) by 7.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 19,485,615 shares of the financial services provider’s stock after purchasing an additional 1,341,407 shares during the period. Amundi’s holdings in U.S. Bancorp were worth $945,268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of the business. Winch Advisory Services LLC raised its stake in U.S. Bancorp by 1,088.9% in the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 490 shares in the last quarter. J.Safra Asset Management Corp acquired a new position in shares of U.S. Bancorp during the fourth quarter worth $26,000. FPC Investment Advisory Inc. bought a new position in U.S. Bancorp in the fourth quarter valued at about $28,000. Frazier Financial Advisors LLC boosted its position in U.S. Bancorp by 222.7% during the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after buying an additional 441 shares during the period. Finally, Global Wealth Strategies & Associates grew its stake in shares of U.S. Bancorp by 70.8% in the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 250 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Up 0.9 %

NYSE:USB opened at $44.77 on Friday. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98. The company’s 50-day simple moving average is $47.54 and its 200 day simple moving average is $47.87. The firm has a market capitalization of $69.84 billion, a P/E ratio of 11.81, a PEG ratio of 1.73 and a beta of 1.02. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. During the same period last year, the business earned $0.99 EPS. U.S. Bancorp’s revenue was up 3.7% compared to the same quarter last year. As a group, analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.47%. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Insider Buying and Selling

In other news, EVP James L. Chosy sold 21,451 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total value of $1,022,140.15. Following the completion of the transaction, the executive vice president now owns 198,127 shares of the company’s stock, valued at $9,440,751.55. This represents a 9.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of U.S. Bancorp stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value of $3,114,246.32. Following the sale, the insider now directly owns 209,482 shares in the company, valued at $9,837,274.72. This trade represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 219,812 shares of company stock valued at $10,385,665. 0.23% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on USB. Citigroup raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $49.00 to $65.00 in a research note on Monday, November 25th. Barclays upped their price objective on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Truist Financial assumed coverage on U.S. Bancorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $54.00 price objective on the stock. 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. Finally, Raymond James raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a research report on Thursday, December 19th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, U.S. Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $54.21.

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