Knights of Columbus Asset Advisors LLC Acquires Shares of 58,275 U.S. Bancorp $USB

Knights of Columbus Asset Advisors LLC acquired a new stake in shares of U.S. Bancorp (NYSE:USB) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 58,275 shares of the financial services provider’s stock, valued at approximately $3,110,000.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in U.S. Bancorp by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider’s stock valued at $7,810,665,000 after buying an additional 1,828,404 shares in the last quarter. State Street Corp lifted its stake in U.S. Bancorp by 0.9% during the third quarter. State Street Corp now owns 69,179,530 shares of the financial services provider’s stock valued at $3,378,808,000 after buying an additional 648,943 shares in the last quarter. Davis Selected Advisers lifted its stake in U.S. Bancorp by 13.4% during the fourth quarter. Davis Selected Advisers now owns 22,041,759 shares of the financial services provider’s stock valued at $1,176,148,000 after buying an additional 2,610,197 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its stake in 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 valued at $858,290,000 after buying an additional 1,189,525 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in U.S. Bancorp by 1.1% during the third quarter. Northern Trust Corp now owns 16,438,774 shares of the financial services provider’s stock valued at $794,486,000 after buying an additional 172,645 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the transaction, the insider owned 207,251 shares in the company, valued at approximately $11,813,307. This represents a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the transaction, the executive vice president owned 51,292 shares in the company, valued at $2,847,731.84. This represents a 40.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on USB. Oppenheimer upped their price objective on shares of U.S. Bancorp from $73.00 to $74.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. reduced their price target on shares of U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating for the company in a research report on Thursday, April 30th. Truist Financial reduced their price target on shares of U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, April 17th. Barclays increased their price target on shares of U.S. Bancorp from $65.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. Finally, DA Davidson reissued a “buy” rating and issued a $65.00 price target on shares of U.S. Bancorp in a research report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.20.

U.S. Bancorp Price Performance

NYSE USB opened at $54.63 on Thursday. The company has a 50 day simple moving average of $54.29 and a 200-day simple moving average of $53.86. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $84.81 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 1.00 and a beta of 1.00. U.S. Bancorp has a 52-week low of $42.55 and a 52-week high of $61.19.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. The business had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 earnings per share. Equities research analysts predict that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a $0.52 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $2.08 dividend on an annualized basis and a yield of 3.8%. U.S. Bancorp’s dividend payout ratio is currently 43.61%.

U.S. Bancorp Profile

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.