U.S. Bancorp $USB is Tetrad Corp’s 2nd Largest Position

Tetrad Corp cut its position in U.S. Bancorp (NYSE:USB) by 49.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 711,500 shares of the financial services provider’s stock after selling 698,500 shares during the quarter. U.S. Bancorp comprises about 3.7% of Tetrad Corp’s holdings, making the stock its 2nd largest position. Tetrad Corp’s holdings in U.S. Bancorp were worth $37,966,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in USB. Vanguard Group Inc. lifted its holdings in U.S. Bancorp by 0.9% during the third quarter. Vanguard Group Inc. now owns 144,548,379 shares of the financial services provider’s stock valued at $6,986,023,000 after purchasing an additional 1,279,104 shares during the last quarter. State Street Corp boosted its holdings in U.S. Bancorp by 0.9% in the 3rd quarter. State Street Corp now owns 69,179,530 shares of the financial services provider’s stock worth $3,378,808,000 after buying an additional 648,943 shares during the period. Norges Bank purchased a new position in U.S. Bancorp in the 2nd quarter valued at approximately $971,285,000. Davis Selected Advisers raised its holdings in U.S. Bancorp by 0.5% during the 3rd quarter. Davis Selected Advisers now owns 19,431,562 shares of the financial services provider’s stock valued at $939,127,000 after acquiring an additional 99,925 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of U.S. Bancorp by 7.2% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 17,758,947 shares of the financial services provider’s stock worth $858,290,000 after acquiring an additional 1,189,525 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

NYSE:USB opened at $51.28 on Friday. The stock has a market cap of $79.60 billion, a P/E ratio of 11.10, a PEG ratio of 0.87 and a beta of 1.04. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The business’s 50-day moving average price is $55.44 and its two-hundred day moving average price is $51.67. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $61.19.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.07. The company had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.31 billion. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. U.S. Bancorp’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.07 earnings per share. As a group, equities analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Tuesday, March 31st. U.S. Bancorp’s payout ratio is currently 45.02%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on USB. Royal Bank Of Canada lifted their price target on U.S. Bancorp from $57.00 to $59.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. HSBC restated a “buy” rating and issued a $62.00 target price on shares of U.S. Bancorp in a research note on Wednesday, January 7th. Evercore increased their price target on shares of U.S. Bancorp from $60.00 to $65.00 and gave the stock an “in-line” rating in a report on Thursday, February 5th. Oppenheimer boosted their price objective on shares of U.S. Bancorp from $75.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Finally, Truist Financial raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and upped their target price for the stock from $61.00 to $66.00 in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, U.S. Bancorp presently has an average rating of “Moderate Buy” and an average price target of $60.02.

Insider Transactions at U.S. Bancorp

In related news, insider Mark G. Runkel sold 32,195 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $60.65, for a total value of $1,952,626.75. Following the transaction, the insider owned 97,728 shares of the company’s stock, valued at $5,927,203.20. This represents a 24.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.21% of the company’s stock.

About U.S. Bancorp

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.