21,268 Shares in U.S. Bancorp (NYSE:USB) Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC purchased a new stake in U.S. Bancorp (NYSE:USB) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 21,268 shares of the financial services provider’s stock, valued at approximately $1,018,000.

A number of other hedge funds have also modified their holdings of the business. FMR LLC boosted its position in shares of 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 buying an additional 15,746,852 shares during the period. Franklin Resources Inc. lifted its stake in U.S. Bancorp by 153.0% during the 3rd quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock worth $374,573,000 after acquiring an additional 4,807,662 shares in the last quarter. Los Angeles Capital Management LLC boosted its holdings in U.S. Bancorp by 723.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider’s stock valued at $146,864,000 after acquiring an additional 2,821,642 shares during the period. Marshall Wace LLP grew its position in U.S. Bancorp by 1,438.4% in the 2nd quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider’s stock valued at $89,853,000 after acquiring an additional 2,116,175 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of U.S. Bancorp by 109.7% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,531,400 shares of the financial services provider’s stock worth $161,491,000 after purchasing an additional 1,847,000 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $49.03, for a total value of $1,225,750.00. Following the sale, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. This represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on USB. Robert W. Baird set a $54.00 target price on shares of U.S. Bancorp in a report on Thursday, October 17th. Truist Financial assumed coverage on U.S. Bancorp in a report on Tuesday. They issued a “hold” rating and a $54.00 target price for the company. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $54.00 to $57.00 in a research report on Monday, September 30th. Deutsche Bank Aktiengesellschaft cut U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective for the company. in a research note on Thursday, October 24th. Finally, Wells Fargo & Company upped their target price on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $54.07.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $48.50 on Friday. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98. The firm has a market capitalization of $75.66 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 3.01 and a beta of 1.05. The business’s 50 day simple moving average is $50.21 and its 200-day simple moving average is $46.41. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The business had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the previous year, the company posted $1.05 EPS. The business’s revenue was down 2.4% on a year-over-year basis. As a group, equities analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp declared that its board has initiated a share buyback plan on Thursday, September 12th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.12%. U.S. Bancorp’s dividend payout ratio is currently 61.16%.

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.