Intech Investment Management LLC Has $8.54 Million Stock Holdings in U.S. Bancorp $USB

Intech Investment Management LLC grew its holdings in U.S. Bancorp (NYSE:USB) by 15.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 159,974 shares of the financial services provider’s stock after buying an additional 21,325 shares during the quarter. Intech Investment Management LLC’s holdings in U.S. Bancorp were worth $8,536,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in USB. Brighton Jones LLC raised its stake in shares of U.S. Bancorp by 323.0% in the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock valued at $2,309,000 after buying an additional 36,863 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of U.S. Bancorp by 2.1% in the 1st quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock worth $1,453,000 after purchasing an additional 714 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of U.S. Bancorp in the 2nd quarter worth about $425,000. Nebula Research & Development LLC bought a new stake in shares of U.S. Bancorp in the 2nd quarter worth about $701,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of U.S. Bancorp by 0.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,902,076 shares of the financial services provider’s stock worth $86,069,000 after purchasing an additional 14,799 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analysts Set New Price Targets

USB has been the topic of several analyst reports. DA Davidson reaffirmed a “buy” rating and issued a $65.00 target price on shares of U.S. Bancorp in a report on Friday, April 17th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $60.00 target price on shares of U.S. Bancorp in a report on Thursday, April 16th. JPMorgan Chase & Co. lowered their target price on shares of U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating on the stock in a report on Thursday, April 30th. Weiss Ratings raised shares of U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Finally, Piper Sandler reaffirmed a “buy” rating on shares of U.S. Bancorp in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.20.

U.S. Bancorp Stock Up 0.8%

Shares of NYSE:USB opened at $54.87 on Friday. U.S. Bancorp has a 12 month low of $42.55 and a 12 month high of $61.19. The company’s 50-day moving average price is $54.42 and its two-hundred day moving average price is $53.92. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. The firm has a market cap of $85.17 billion, a P/E ratio of 11.50, a P/E/G ratio of 0.98 and a beta of 1.00.

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

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a dividend of $0.52 per share. The ex-dividend date of this dividend 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%.

Insider Activity

In other news, EVP Venkatachari Dilip sold 34,522 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the transaction, the executive vice president owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jodi L. Richard sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the transaction, the insider directly owned 207,251 shares in the company, valued at $11,813,307. This trade represents a 16.18% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by company insiders.

U.S. Bancorp Company 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.